Royal Caribbean Cruises (NYSE:RCL) had its price objective reduced by Citigroup from $138.00 to $136.00 in a research note issued to investors on Friday. Citigroup currently has a buy rating on the stock.
Other research analysts have also issued research reports about the stock. Zacks Investment Research upgraded shares of Royal Caribbean Cruises from a hold rating to a buy rating and set a $125.00 price target for the company in a report on Wednesday, August 8th. ValuEngine upgraded shares of Royal Caribbean Cruises from a sell rating to a hold rating in a report on Thursday, July 19th. Morgan Stanley lowered their price target on shares of Royal Caribbean Cruises from $130.00 to $110.00 and set an equal weight rating for the company in a report on Tuesday, June 5th. Susquehanna Bancshares raised their price target on shares of Royal Caribbean Cruises from $142.00 to $146.00 and gave the stock a positive rating in a report on Friday, June 15th. Finally, Stifel Nicolaus restated a buy rating on shares of Royal Caribbean Cruises in a report on Thursday, April 19th. Six analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Royal Caribbean Cruises currently has an average rating of Buy and an average price target of $137.20.
NYSE:RCL opened at $116.82 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.18 and a current ratio of 0.20. Royal Caribbean Cruises has a one year low of $101.20 and a one year high of $135.65. The company has a market cap of $23.75 billion, a P/E ratio of 15.40, a price-to-earnings-growth ratio of 0.80 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 (EPS) for the quarter, topping the consensus estimate of $1.97 by $0.30. Royal Caribbean Cruises had a net margin of 19.31% and a return on equity of 16.50%. The firm had revenue of $2.34 billion during the quarter, compared to analyst estimates of $2.34 billion. During the same quarter last year, the business earned $1.71 EPS. The company’s revenue was up 6.5% compared to the same quarter last year. analysts expect that Royal Caribbean Cruises will post 8.9 earnings per share for the current fiscal year.
Royal Caribbean Cruises announced that its board has authorized a stock repurchase plan on Wednesday, May 9th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to buy up to 4.5% of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.
In other news, CEO Richard D. Fain sold 20,000 shares of Royal Caribbean Cruises stock in a transaction on Wednesday, June 13th. The shares were sold at an average price of $108.22, for a total value of $2,164,400.00. Following the completion of the sale, the chief executive officer now owns 859,337 shares in the company, valued at approximately $92,997,450.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 15.26% of the company’s stock.
Large investors have recently added to or reduced their stakes in the company. Advisors Preferred LLC bought a new stake in shares of Royal Caribbean Cruises in the 1st quarter valued at $110,000. First Mercantile Trust Co. acquired a new stake in Royal Caribbean Cruises in the 2nd quarter valued at $145,000. Squar Milner Financial Services LLC acquired a new stake in Royal Caribbean Cruises in the 2nd quarter valued at $164,000. Bronfman E.L. Rothschild L.P. grew its position in Royal Caribbean Cruises by 488.2% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,788 shares of the company’s stock valued at $185,000 after purchasing an additional 1,484 shares during the period. Finally, NEXT Financial Group Inc acquired a new stake in Royal Caribbean Cruises in the 1st quarter valued at $214,000. Institutional investors own 70.20% of the company’s stock.
Royal Caribbean Cruises Company Profile
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.
Read More: Price to Earnings Ratio (PE)
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