Royal Caribbean Cruises (NYSE:RCL) Trading Up 8.4%

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Shares of Royal Caribbean Cruises Ltd (NYSE:RCL) were up 8.4% during trading on Monday . The stock traded as high as $50.49 and last traded at $50.30, approximately 17,359,960 shares changed hands during trading. An increase of 2% from the average daily volume of 16,977,688 shares. The stock had previously closed at $46.41.

Several equities analysts recently commented on RCL shares. Deutsche Bank upped their price target on shares of Royal Caribbean Cruises from $36.00 to $40.00 and gave the stock a “hold” rating in a research report on Tuesday, June 23rd. Credit Suisse Group began coverage on shares of Royal Caribbean Cruises in a research note on Thursday, May 21st. They set an “outperform” rating and a $67.00 price objective for the company. Wells Fargo & Co reiterated an “overweight” rating on shares of Royal Caribbean Cruises in a research note on Tuesday, May 5th. Redburn Partners reiterated a “neutral” rating on shares of Royal Caribbean Cruises in a research note on Monday, June 22nd. Finally, Goldman Sachs Group decreased their price objective on shares of Royal Caribbean Cruises from $130.00 to $79.00 in a research note on Tuesday, March 10th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $84.84.

The stock has a market capitalization of $10.53 billion, a price-to-earnings ratio of 59.88 and a beta of 2.48. The firm’s fifty day moving average is $51.83 and its 200-day moving average is $75.86. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.51 and a quick ratio of 0.49.

Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings results on Wednesday, May 20th. The company reported ($1.48) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.63) by ($0.85). The company had revenue of $2.03 billion during the quarter, compared to analyst estimates of $2 billion. Royal Caribbean Cruises had a net margin of 1.75% and a return on equity of 12.34%. The company’s revenue was down 16.7% on a year-over-year basis. During the same period in the prior year, the company earned $1.31 earnings per share. On average, sell-side analysts expect that Royal Caribbean Cruises Ltd will post -13.64 EPS for the current year.

In other Royal Caribbean Cruises news, Director Donald Thompson bought 20,000 shares of the company’s stock in a transaction on Tuesday, May 26th. The shares were bought at an average cost of $53.24 per share, with a total value of $1,064,800.00. Corporate insiders own 13.09% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Capital Research Global Investors bought a new position in shares of Royal Caribbean Cruises during the 1st quarter valued at about $454,688,000. Capital International Investors boosted its holdings in shares of Royal Caribbean Cruises by 158.9% in the fourth quarter. Capital International Investors now owns 8,565,820 shares of the company’s stock worth $1,143,623,000 after buying an additional 5,256,795 shares during the period. Eminence Capital LP boosted its holdings in shares of Royal Caribbean Cruises by 220.8% in the first quarter. Eminence Capital LP now owns 6,183,058 shares of the company’s stock worth $198,909,000 after buying an additional 4,255,837 shares during the period. Capital World Investors boosted its holdings in shares of Royal Caribbean Cruises by 2,349.2% in the first quarter. Capital World Investors now owns 2,277,711 shares of the company’s stock worth $73,274,000 after buying an additional 2,184,711 shares during the period. Finally, Norges Bank acquired a new position in shares of Royal Caribbean Cruises in the fourth quarter worth about $243,487,000. Hedge funds and other institutional investors own 66.95% of the company’s stock.

Royal Caribbean Cruises Company Profile (NYSE:RCL)

Royal Caribbean Cruises Ltd. operates as a cruise company. The company operates cruises under the Royal Caribbean International, Celebrity Cruises, Azamara Club Cruises, and Silversea 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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