Research analysts at Macquarie began coverage on shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) in a research report issued on Tuesday, The Fly reports. The firm set an “outperform” rating on the stock.
RCL has been the subject of several other reports. Argus downgraded Royal Caribbean Cruises from a “buy” rating to a “hold” rating in a research note on Wednesday, September 7th. Stifel Nicolaus lowered their price objective on Royal Caribbean Cruises from $94.00 to $93.00 and set a “buy” rating for the company in a research note on Wednesday, August 3rd. Zacks Investment Research raised Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a research note on Wednesday, August 17th. Sterne Agee CRT initiated coverage on Royal Caribbean Cruises in a research note on Tuesday, June 7th. They issued a “neutral” rating and a $83.00 price objective for the company. Finally, Sanford C. Bernstein initiated coverage on Royal Caribbean Cruises in a report on Thursday, September 8th. They issued an “outperform” rating and a $90.00 target price for the company. Six analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. Royal Caribbean Cruises has a consensus rating of “Buy” and an average target price of $92.86.
Shares of Royal Caribbean Cruises (NYSE:RCL) opened at 74.57 on Tuesday. The company’s 50-day moving average price is $70.10 and its 200 day moving average price is $73.74. The firm has a market capitalization of $16.05 billion, a PE ratio of 21.28 and a beta of 1.65. Royal Caribbean Cruises has a 12-month low of $64.21 and a 12-month high of $103.40.
Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $1.09 EPS for the quarter, topping the consensus estimate of $1.02 by $0.07. The firm earned $2.11 billion during the quarter, compared to the consensus estimate of $2.17 billion. Royal Caribbean Cruises had a return on equity of 14.76% and a net margin of 9.05%. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.84 earnings per share. On average, equities analysts forecast that Royal Caribbean Cruises will post $6.07 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 13th. Investors of record on Thursday, September 29th will be given a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a dividend yield of 2.57%. The ex-dividend date of this dividend is Tuesday, September 27th. This is an increase from Royal Caribbean Cruises’s previous quarterly dividend of $0.38. Royal Caribbean Cruises’s dividend payout ratio (DPR) is 55.01%.
In other news, Director Vagn O. Sorensen purchased 1,100 shares of the stock in a transaction on Thursday, August 18th. The shares were acquired at an average price of $70.50 per share, for a total transaction of $77,550.00. Following the completion of the transaction, the director now directly owns 18,871 shares of the company’s stock, valued at approximately $1,330,405.50. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Richard D. Fain purchased 29,190 shares of the stock in a transaction on Wednesday, August 3rd. The shares were purchased at an average price of $68.52 per share, for a total transaction of $2,000,098.80. Following the transaction, the chief executive officer now directly owns 1,068,881 shares of the company’s stock, valued at $73,239,726.12. The disclosure for this purchase can be found here. 16.80% of the stock is owned by corporate insiders.
A number of large investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its stake in Royal Caribbean Cruises by 2.3% in the second quarter. Vanguard Group Inc. now owns 15,394,128 shares of the company’s stock worth $1,033,716,000 after buying an additional 344,473 shares during the last quarter. Primecap Management Co. CA increased its stake in Royal Caribbean Cruises by 31.6% in the second quarter. Primecap Management Co. CA now owns 7,721,989 shares of the company’s stock worth $518,532,000 after buying an additional 1,852,117 shares during the last quarter. State Street Corp increased its stake in Royal Caribbean Cruises by 0.8% in the first quarter. State Street Corp now owns 6,687,292 shares of the company’s stock worth $549,355,000 after buying an additional 50,919 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its stake in Royal Caribbean Cruises by 2.3% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 4,437,215 shares of the company’s stock worth $364,517,000 after buying an additional 100,616 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its stake in Royal Caribbean Cruises by 1.9% in the second quarter. Dimensional Fund Advisors LP now owns 2,324,669 shares of the company’s stock worth $156,118,000 after buying an additional 44,087 shares during the last quarter. Institutional investors and hedge funds own 75.04% of the company’s stock.
About Royal Caribbean Cruises
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.
Receive News & Ratings for Royal Caribbean Cruises Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Royal Caribbean Cruises Ltd. and related companies with MarketBeat.com's FREE daily email newsletter.