Royal Caribbean Cruises Ltd. (NYSE:RCL)‘s stock had its “buy” rating reiterated by stock analysts at UBS AG in a note issued to investors on Tuesday, August 8th, www.flashratings.com reports. They currently have a $131.00 price target on the stock, up from their previous price target of $112.00. UBS AG’s target price would indicate a potential upside of 10.26% from the company’s current price.
Several other brokerages also recently weighed in on RCL. Zacks Investment Research downgraded Royal Caribbean Cruises from a “buy” rating to a “hold” rating in a report on Tuesday, July 4th. Deutsche Bank AG dropped their price objective on Royal Caribbean Cruises from $102.00 to $91.00 and set a “hold” rating on the stock in a report on Tuesday, May 2nd. Wedbush increased their price objective on Royal Caribbean Cruises from $106.00 to $117.00 and gave the company an “outperform” rating in a report on Tuesday, April 25th. Goldman Sachs Group, Inc. (The) upped their target price on Royal Caribbean Cruises from $90.00 to $94.00 and gave the company a “sell” rating in a research report on Monday, May 1st. Finally, Wells Fargo & Company reaffirmed an “outperform” rating and set a $119.50 price objective (up from $117.50) on shares of Royal Caribbean Cruises in a research report on Tuesday, May 2nd. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. Royal Caribbean Cruises presently has an average rating of “Buy” and an average target price of $117.23.
Royal Caribbean Cruises (RCL) opened at 118.81 on Tuesday. Royal Caribbean Cruises has a 52-week low of $65.10 and a 52-week high of $122.96. The firm has a market capitalization of $25.56 billion, a PE ratio of 16.67 and a beta of 1.06. The company’s 50-day moving average is $114.61 and its 200-day moving average is $105.28.
Royal Caribbean Cruises (NYSE:RCL) last posted its earnings results on Tuesday, August 1st. The company reported $1.71 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.67 by $0.04. Royal Caribbean Cruises had a return on equity of 16.71% and a net margin of 17.73%. The firm had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.19 billion. During the same quarter in the prior year, the company earned $1.09 EPS. Royal Caribbean Cruises’s revenue was up 4.3% on a year-over-year basis. Analysts forecast that Royal Caribbean Cruises will post $7.44 EPS for the current fiscal year.
Royal Caribbean Cruises declared that its board has approved a stock buyback plan on Friday, April 28th that authorizes the company to buyback $500.00 million in shares. This buyback authorization authorizes the company to purchase up to 2.2% of its shares through open market purchases. Shares buyback plans are usually a sign that the company’s management believes its shares are undervalued.
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In other Royal Caribbean Cruises news, CEO Richard D. Fain sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, July 13th. The stock was sold at an average price of $109.62, for a total value of $2,192,400.00. Following the completion of the sale, the chief executive officer now directly owns 967,741 shares in the company, valued at $106,083,768.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Lawrence R. Pimentel sold 17,000 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $120.50, for a total value of $2,048,500.00. Following the completion of the sale, the chief executive officer now owns 20,045 shares of the company’s stock, valued at $2,415,422.50. The disclosure for this sale can be found here. Insiders have sold 460,079 shares of company stock valued at $53,714,055 over the last ninety days. Corporate insiders own 15.30% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Advisors Preferred LLC bought a new stake in shares of Royal Caribbean Cruises during the first quarter worth approximately $103,000. TLP Group LLC purchased a new stake in shares of Royal Caribbean Cruises during the second quarter valued at about $105,000. NEXT Financial Group Inc increased its stake in shares of Royal Caribbean Cruises by 25.0% in the first quarter. NEXT Financial Group Inc now owns 1,000 shares of the company’s stock valued at $107,000 after buying an additional 200 shares during the period. Acrospire Investment Management LLC increased its stake in shares of Royal Caribbean Cruises by 25.0% in the second quarter. Acrospire Investment Management LLC now owns 1,000 shares of the company’s stock valued at $109,000 after buying an additional 200 shares during the period. Finally, Oppenheimer Asset Management Inc. purchased a new stake in shares of Royal Caribbean Cruises during the first quarter valued at about $119,000. Institutional investors own 72.26% of the company’s stock.
About Royal Caribbean Cruises
Royal Caribbean Cruises Ltd. is a cruise company. The Company owns and operates three global cruise brands: Royal Caribbean International, Celebrity Cruises and Azamara Club Cruises (Global Brands). The Company also own joint venture interest in the German brand TUI Cruises, interest in the Spanish brand Pullmantur and interest in the Chinese brand SkySea Cruises (collectively, Partner Brands).
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