Royal Caribbean Cruises (NYSE:RCL) had its price objective raised by investment analysts at JPMorgan Chase & Co. from $150.00 to $151.00 in a note issued to investors on Friday. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.’s price target suggests a potential upside of 31.87% from the stock’s current price.
Several other research firms also recently commented on RCL. Zacks Investment Research raised Royal Caribbean Cruises from a “hold” rating to a “buy” rating and set a $131.00 price objective for the company in a report on Thursday, April 5th. Stifel Nicolaus restated a “buy” rating on shares of Royal Caribbean Cruises in a research note on Thursday, April 19th. ValuEngine cut Royal Caribbean Cruises from a “buy” rating to a “hold” rating in a research note on Saturday, April 7th. Susquehanna Bancshares increased their price target on Royal Caribbean Cruises from $142.00 to $146.00 and gave the company a “positive” rating in a research note on Friday. Finally, Morgan Stanley dropped their price target on Royal Caribbean Cruises from $130.00 to $110.00 and set an “equal weight” rating on the stock in a research note on Tuesday, June 5th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. Royal Caribbean Cruises has a consensus rating of “Buy” and a consensus target price of $135.88.
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Royal Caribbean Cruises opened at $114.51 on Friday, according to Marketbeat. The company has a market capitalization of $24.03 billion, a PE ratio of 15.21, a P/E/G ratio of 0.81 and a beta of 1.23. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.20 and a quick ratio of 0.18. Royal Caribbean Cruises has a 12 month low of $101.20 and a 12 month high of $135.65.
Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings data on Thursday, April 26th. The company reported $1.09 EPS for the quarter, beating the consensus estimate of $0.97 by $0.12. The company had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.04 billion. Royal Caribbean Cruises had a return on equity of 15.85% and a net margin of 18.52%. The firm’s revenue for the quarter was up 1.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.99 EPS. sell-side analysts forecast that Royal Caribbean Cruises will post 8.83 earnings per share for the current year.
Royal Caribbean Cruises declared that its board has authorized a stock repurchase program on Wednesday, May 9th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 4.5% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
In other Royal Caribbean Cruises news, CEO Richard D. Fain sold 20,000 shares of the stock in a transaction on Wednesday, June 13th. The stock was sold at an average price of $108.22, for a total transaction of $2,164,400.00. Following the transaction, the chief executive officer now owns 859,337 shares in the company, valued at approximately $92,997,450.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 15.26% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of the business. Dynamic Technology Lab Private Ltd increased its position in Royal Caribbean Cruises by 64.4% during the 1st quarter. Dynamic Technology Lab Private Ltd now owns 11,504 shares of the company’s stock worth $1,355,000 after buying an additional 4,506 shares during the period. Suntrust Banks Inc. increased its position in Royal Caribbean Cruises by 27.4% during the 1st quarter. Suntrust Banks Inc. now owns 9,953 shares of the company’s stock worth $1,170,000 after buying an additional 2,139 shares during the period. Summit Trail Advisors LLC increased its position in Royal Caribbean Cruises by 32.0% during the 1st quarter. Summit Trail Advisors LLC now owns 3,715 shares of the company’s stock worth $271,000 after buying an additional 901 shares during the period. Principal Financial Group Inc. increased its position in Royal Caribbean Cruises by 2.7% during the 1st quarter. Principal Financial Group Inc. now owns 484,214 shares of the company’s stock worth $57,011,000 after buying an additional 12,603 shares during the period. Finally, Cypress Capital Group bought a new position in Royal Caribbean Cruises during the 1st quarter worth $701,000. Hedge funds and other institutional investors own 71.86% of the company’s stock.
About Royal Caribbean Cruises
Royal Caribbean Cruises Ltd. operates as a cruise company. The company operates cruises under the Royal Caribbean International, Celebrity Cruises, and Azamara Club Cruises brands. The Royal Caribbean International brand provides itineraries to destinations worldwide, including Alaska, Asia, Australia, Bahamas, Bermuda, Canada, the Caribbean, Europe, the Panama Canal, and New Zealand with cruise lengths that range from 2 to 23 nights.