Royal Caribbean Cruises (RCL) Given New $153.00 Price Target at Nomura

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Royal Caribbean Cruises (NYSE:RCL) had its price target reduced by Nomura from $156.00 to $153.00 in a report published on Thursday. They currently have a buy rating on the stock.

RCL has been the topic of several other reports. Stifel Nicolaus dropped their price target on Royal Caribbean Cruises from $153.00 to $150.00 and set a buy rating on the stock in a research report on Tuesday, July 24th. Bank of America lifted their price target on Royal Caribbean Cruises from $138.00 to $150.00 and gave the company a neutral rating in a research report on Wednesday, September 26th. Barclays started coverage on Royal Caribbean Cruises in a research report on Friday, August 3rd. They set an overweight rating on the stock. Deutsche Bank upgraded Royal Caribbean Cruises from a hold rating to a buy rating and lifted their price target for the company from $135.00 to $146.00 in a research report on Wednesday, August 29th. Finally, Morgan Stanley lifted their price target on Royal Caribbean Cruises from $110.00 to $120.00 and gave the company a hold rating in a research report on Thursday, September 6th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock has a consensus rating of Buy and a consensus price target of $142.07.

Shares of NYSE RCL traded down $1.14 during mid-day trading on Thursday, hitting $115.49. 155,278 shares of the stock traded hands, compared to its average volume of 1,656,088. The company has a quick ratio of 0.18, a current ratio of 0.20 and a debt-to-equity ratio of 0.68. Royal Caribbean Cruises has a 52 week low of $101.20 and a 52 week high of $135.65. The firm has a market capitalization of $25.20 billion, a PE ratio of 15.61, a P/E/G ratio of 0.85 and a beta of 1.17.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings results on Thursday, August 2nd. The company reported $2.27 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.97 by $0.30. Royal Caribbean Cruises had a return on equity of 16.50% and a net margin of 19.31%. The company had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.34 billion. During the same period in the previous year, the company posted $1.71 earnings per share. The firm’s revenue was up 6.5% on a year-over-year basis. On average, research analysts anticipate that Royal Caribbean Cruises will post 8.91 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, October 11th. Shareholders of record on Friday, September 21st were issued a $0.70 dividend. This represents a $2.80 annualized dividend and a yield of 2.42%. This is an increase from Royal Caribbean Cruises’s previous quarterly dividend of $0.60. The ex-dividend date was Thursday, September 20th. Royal Caribbean Cruises’s payout ratio is 37.18%.

In other Royal Caribbean Cruises news, EVP Harri U. Kulovaara sold 6,600 shares of the business’s stock in a transaction on Thursday, September 13th. The stock was sold at an average price of $125.55, for a total value of $828,630.00. Following the sale, the executive vice president now directly owns 26,165 shares of the company’s stock, valued at $3,285,015.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 15.26% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in RCL. Swiss National Bank raised its stake in shares of Royal Caribbean Cruises by 2.8% in the second quarter. Swiss National Bank now owns 565,238 shares of the company’s stock worth $58,559,000 after purchasing an additional 15,600 shares during the last quarter. Hexavest Inc. raised its stake in shares of Royal Caribbean Cruises by 44.9% in the third quarter. Hexavest Inc. now owns 542,895 shares of the company’s stock worth $70,544,000 after purchasing an additional 168,242 shares during the last quarter. Davy Asset Management Ltd purchased a new position in shares of Royal Caribbean Cruises in the second quarter worth $1,314,000. Legacy Capital Partners Inc. raised its stake in shares of Royal Caribbean Cruises by 7.2% in the third quarter. Legacy Capital Partners Inc. now owns 6,552 shares of the company’s stock worth $851,000 after purchasing an additional 441 shares during the last quarter. Finally, Putnam Investments LLC raised its stake in shares of Royal Caribbean Cruises by 3.9% in the second quarter. Putnam Investments LLC now owns 216,639 shares of the company’s stock worth $22,444,000 after purchasing an additional 8,190 shares during the last quarter. 71.27% of the stock is currently owned by institutional investors and hedge funds.

About Royal Caribbean Cruises

Royal Caribbean Cruises Ltd. operates as a cruise company. The company operates cruises under the Royal Caribbean International, Celebrity Cruises, and Azamara Club Cruises brands. The Royal Caribbean International brand provides itineraries to destinations worldwide, including Alaska, Asia, Australia, Bahamas, Bermuda, Canada, the Caribbean, Europe, the Panama Canal, and New Zealand with cruise lengths that range from 2 to 23 nights.

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Analyst Recommendations for Royal Caribbean Cruises (NYSE:RCL)

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