Eaton Vance Management continued to hold its position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 42,647 shares of the company’s stock at the end of the second quarter. Eaton Vance Management’s holdings in Royal Caribbean Cruises were worth $2,864,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in RCL. Norges Bank bought a new stake in Royal Caribbean Cruises during the fourth quarter worth $144,680,000. Emerald Acquisition Ltd. bought a new stake in Royal Caribbean Cruises during the second quarter worth $80,476,000. Suvretta Capital Management LLC bought a new stake in Royal Caribbean Cruises during the first quarter worth $78,724,000. Primecap Management Co. CA boosted its stake in Royal Caribbean Cruises by 15.6% in the first quarter. Primecap Management Co. CA now owns 5,869,872 shares of the company’s stock worth $482,210,000 after buying an additional 792,071 shares during the last quarter. Finally, Prudential PLC boosted its stake in Royal Caribbean Cruises by 39.7% in the first quarter. Prudential PLC now owns 1,389,000 shares of the company’s stock worth $114,106,000 after buying an additional 394,700 shares during the last quarter. 75.03% of the stock is currently owned by institutional investors and hedge funds.
Royal Caribbean Cruises Ltd. (NYSE:RCL) traded up 3.70% during midday trading on Thursday, hitting $70.37. 1,946,854 shares of the stock traded hands. Royal Caribbean Cruises Ltd. has a 52 week low of $64.21 and a 52 week high of $103.40. The stock has a market capitalization of $15.15 billion, a P/E ratio of 20.08 and a beta of 1.73. The stock’s 50-day moving average price is $69.65 and its 200-day moving average price is $73.68.
Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings results on Tuesday, August 2nd. The company reported $1.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.02 by $0.07. The business had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.17 billion. Royal Caribbean Cruises had a net margin of 9.05% and a return on equity of 14.76%. The company’s revenue was up 2.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.84 EPS. Equities research analysts expect that Royal Caribbean Cruises Ltd. will post $6.08 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 13th. Shareholders of record on Thursday, September 29th will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date of this dividend is Tuesday, September 27th. This is a positive change from Royal Caribbean Cruises’s previous quarterly dividend of $0.38. Royal Caribbean Cruises’s dividend payout ratio (DPR) is 42.98%.
A number of analysts have weighed in on RCL shares. Morgan Stanley decreased their target price on shares of Royal Caribbean Cruises from $99.00 to $80.00 and set an “equal weight” rating on the stock in a research note on Thursday, May 26th. Zacks Investment Research cut shares of Royal Caribbean Cruises from a “buy” rating to a “hold” rating in a research note on Friday, May 27th. Tigress Financial raised shares of Royal Caribbean Cruises to a “buy” rating in a research note on Tuesday, May 31st. Sterne Agee CRT started coverage on shares of Royal Caribbean Cruises in a research note on Tuesday, June 7th. They set a “neutral” rating and a $83.00 target price on the stock. Finally, Nomura reaffirmed a “buy” rating on shares of Royal Caribbean Cruises in a research note on Wednesday, June 15th. Five research analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $93.52.
In other news, Director Vagn O. Sorensen purchased 1,100 shares of the business’s stock in a transaction on Thursday, August 18th. The shares were acquired at an average price of $70.50 per share, with a total value of $77,550.00. Following the acquisition, the director now directly owns 18,871 shares in the company, valued at $1,330,405.50. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Lisa Lutoff-Perlo sold 6,790 shares of the firm’s stock in a transaction on Friday, August 5th. The stock was sold at an average price of $74.46, for a total transaction of $505,583.40. Following the completion of the sale, the chief executive officer now directly owns 34,450 shares in the company, valued at approximately $2,565,147. The disclosure for this sale can be found here. 16.80% of the stock is currently owned by company insiders.
Royal Caribbean Cruises Company Profile
Royal Caribbean Cruises Ltd. is a cruise company. The Company owns various brands, such as Royal Caribbean International, Celebrity Cruises, Pullmantur, Azamara Club Cruises, CDF Croisieres de France and joint venture interest in TUI Cruises. It operates approximately 23 ships with an aggregate capacity of approximately 68,600 berths under its Royal Caribbean International brand, offering cruise itineraries that range from 2 to 24 nights.
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