Royal Caribbean Cruises Ltd. (NYSE:RCL) – Equities researchers at Wedbush decreased their Q4 2017 earnings estimates for Royal Caribbean Cruises in a research report issued to clients and investors on Wednesday. Wedbush analyst J. Hardiman now forecasts that the company will post earnings of $1.21 per share for the quarter, down from their prior forecast of $1.25. Wedbush currently has a “Outperform” rating and a $139.00 target price on the stock. Wedbush also issued estimates for Royal Caribbean Cruises’ FY2018 earnings at $8.68 EPS.
A number of other research analysts have also weighed in on RCL. Nomura raised their price objective on Royal Caribbean Cruises from $131.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, August 2nd. Buckingham Research raised their price objective on Royal Caribbean Cruises to $149.00 and gave the company a “buy” rating in a report on Wednesday, August 2nd. Goldman Sachs Group, Inc. (The) upgraded Royal Caribbean Cruises from a “sell” rating to a “neutral” rating and raised their price objective for the company from $99.00 to $115.00 in a report on Wednesday, August 2nd. J P Morgan Chase & Co upgraded Royal Caribbean Cruises from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $111.00 to $130.00 in a report on Thursday, July 20th. Finally, Zacks Investment Research downgraded Royal Caribbean Cruises from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. Two analysts have rated the stock with a sell rating, three have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $125.75.
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Royal Caribbean Cruises (NYSE:RCL) opened at $124.22 on Thursday. Royal Caribbean Cruises has a 52-week low of $78.77 and a 52-week high of $133.75. The stock has a market capitalization of $27,118.64, a P/E ratio of 17.07, a PEG ratio of 0.76 and a beta of 1.07. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.12 and a current ratio of 0.16.
Royal Caribbean Cruises (NYSE:RCL) last announced its earnings results on Tuesday, November 7th. The company reported $3.49 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.43 by $0.06. Royal Caribbean Cruises had a return on equity of 16.64% and a net margin of 18.41%. The firm had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.57 billion. During the same quarter last year, the firm posted $3.20 EPS. The business’s revenue was up .2% on a year-over-year basis.
In related news, CEO Richard D. Fain sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, August 14th. The stock was sold at an average price of $118.95, for a total value of $2,379,000.00. Following the sale, the chief executive officer now directly owns 947,741 shares in the company, valued at approximately $112,733,791.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Harri U. Kulovaara sold 7,580 shares of Royal Caribbean Cruises stock in a transaction on Monday, August 14th. The shares were sold at an average price of $119.61, for a total value of $906,643.80. Following the transaction, the executive vice president now owns 23,493 shares in the company, valued at $2,809,997.73. The disclosure for this sale can be found here. Insiders have sold 67,580 shares of company stock valued at $8,225,444 over the last 90 days. 15.30% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of RCL. Ameriprise Financial Inc. increased its position in shares of Royal Caribbean Cruises by 105.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,378,863 shares of the company’s stock valued at $400,541,000 after buying an additional 1,732,995 shares in the last quarter. American Century Companies Inc. lifted its holdings in shares of Royal Caribbean Cruises by 158.3% during the third quarter. American Century Companies Inc. now owns 1,373,175 shares of the company’s stock worth $162,776,000 after purchasing an additional 841,498 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Royal Caribbean Cruises by 4.1% during the second quarter. Vanguard Group Inc. now owns 17,178,558 shares of the company’s stock worth $1,876,413,000 after purchasing an additional 673,608 shares during the period. PNC Financial Services Group Inc. lifted its holdings in shares of Royal Caribbean Cruises by 1,754.5% during the second quarter. PNC Financial Services Group Inc. now owns 684,387 shares of the company’s stock worth $74,756,000 after purchasing an additional 647,483 shares during the period. Finally, Capital Growth Management LP acquired a new position in Royal Caribbean Cruises in the second quarter valued at $61,933,000. Hedge funds and other institutional investors own 71.12% 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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