Royal Caribbean Cruises (NYSE:RCL – Get Rating) had its price objective increased by equities research analysts at Barclays from $74.00 to $88.00 in a research report issued to clients and investors on Wednesday, The Fly reports. The firm presently has an “overweight” rating on the stock. Barclays‘s target price suggests a potential upside of 19.68% from the company’s previous close.
A number of other equities research analysts also recently commented on the company. Morgan Stanley upgraded Royal Caribbean Cruises from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $40.00 to $50.00 in a research report on Tuesday, January 10th. UBS Group boosted their price objective on Royal Caribbean Cruises from $76.00 to $82.00 and gave the company a “buy” rating in a report on Monday, January 9th. Bank of America upgraded Royal Caribbean Cruises from an “underperform” rating to a “neutral” rating and boosted their price objective for the company from $40.00 to $78.00 in a report on Wednesday. StockNews.com upgraded Royal Caribbean Cruises to a “sell” rating in a report on Thursday, December 15th. Finally, Wells Fargo & Company boosted their price objective on Royal Caribbean Cruises from $63.00 to $67.00 and gave the company an “overweight” rating in a report on Monday, November 21st. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $76.93.
Royal Caribbean Cruises Price Performance
NYSE:RCL opened at $73.53 on Wednesday. Royal Caribbean Cruises has a 52 week low of $31.09 and a 52 week high of $90.55. The company has a quick ratio of 0.27, a current ratio of 0.37 and a debt-to-equity ratio of 7.43. The company has a market capitalization of $18.76 billion, a P/E ratio of -8.69 and a beta of 2.48. The stock’s fifty day moving average is $58.80 and its two-hundred day moving average is $51.01.
Royal Caribbean Cruises (NYSE:RCL – Get Rating) last posted its earnings results on Tuesday, February 7th. The company reported ($1.12) EPS for the quarter, beating analysts’ consensus estimates of ($1.37) by $0.25. Royal Caribbean Cruises had a negative return on equity of 56.86% and a negative net margin of 24.39%. The company had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.61 billion. During the same quarter in the previous year, the business earned ($4.78) earnings per share. The company’s revenue for the quarter was up 165.0% on a year-over-year basis. Equities analysts expect that Royal Caribbean Cruises will post 3.18 EPS for the current year.
Insider Transactions at Royal Caribbean Cruises
In other news, Director Arne Alexander Wilhelmsen sold 396,990 shares of the company’s stock in a transaction dated Monday, December 5th. The stock was sold at an average price of $60.24, for a total transaction of $23,914,677.60. Following the completion of the transaction, the director now directly owns 21,166,921 shares of the company’s stock, valued at approximately $1,275,095,321.04. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last ninety days, insiders sold 1,007,968 shares of company stock valued at $60,959,468. 9.28% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently made changes to their positions in the business. Sentry Investment Management LLC boosted its position in shares of Royal Caribbean Cruises by 10.5% in the 4th quarter. Sentry Investment Management LLC now owns 1,484 shares of the company’s stock valued at $73,000 after purchasing an additional 141 shares during the period. Texas Permanent School Fund boosted its position in shares of Royal Caribbean Cruises by 0.5% in the 4th quarter. Texas Permanent School Fund now owns 31,078 shares of the company’s stock valued at $1,536,000 after purchasing an additional 158 shares during the period. Kentucky Retirement Systems Insurance Trust Fund boosted its position in shares of Royal Caribbean Cruises by 2.6% in the 3rd quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 7,861 shares of the company’s stock valued at $298,000 after purchasing an additional 196 shares during the period. Loomis Sayles & Co. L P boosted its position in shares of Royal Caribbean Cruises by 4.0% in the 1st quarter. Loomis Sayles & Co. L P now owns 5,077 shares of the company’s stock valued at $425,000 after purchasing an additional 196 shares during the period. Finally, Utah Retirement Systems boosted its position in shares of Royal Caribbean Cruises by 0.5% in the 3rd quarter. Utah Retirement Systems now owns 39,219 shares of the company’s stock valued at $1,486,000 after purchasing an additional 200 shares during the period. 74.27% of the stock is owned by institutional investors and hedge funds.
About Royal Caribbean Cruises
Royal Caribbean Group operates a fleet of cruise ships. It also operates as a global cruise company, which controls and operates the following global cruise brands: Royal Caribbean International, Celebrity Cruises, Silversea Cruises, and Hapag-Lloyd Cruises. The firm also holds interest in TUI Cruises, Pullmantur, and SkySea Cruises brands.
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