Royal Caribbean Cruises Ltd. (NYSE:RCL) – Wedbush boosted their FY2017 earnings per share (EPS) estimates for Royal Caribbean Cruises in a report released on Wednesday. Wedbush analyst J. Hardiman now anticipates that the company will earn $7.41 per share for the year, up from their previous forecast of $7.30. Wedbush currently has a “Outperform” rating and a $139.00 price objective on the stock.
Several other brokerages have also issued reports on RCL. Stifel Nicolaus lifted their price target on Royal Caribbean Cruises from $134.00 to $150.00 and gave the company a “buy” rating in a research note on Wednesday. Buckingham Research lifted their price target on Royal Caribbean Cruises from $149.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday. Deutsche Bank AG lifted their price target on Royal Caribbean Cruises from $114.00 to $118.00 and gave the company a “hold” rating in a research note on Wednesday. SunTrust Banks, Inc. restated a “buy” rating and set a $126.00 price objective on shares of Royal Caribbean Cruises in a research report on Sunday, October 15th. Finally, Argus boosted their price objective on Royal Caribbean Cruises from $135.00 to $145.00 and gave the stock a “buy” rating in a research report on Wednesday, October 11th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating, fifteen have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $126.33.
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Royal Caribbean Cruises (RCL) opened at $124.22 on Friday. Royal Caribbean Cruises has a 52 week low of $78.77 and a 52 week high of $133.75. The company has a quick ratio of 0.12, a current ratio of 0.16 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $27,118.64, a price-to-earnings ratio of 17.07, a PEG ratio of 0.76 and a beta of 1.07.
Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings data on Tuesday, November 7th. The company reported $3.49 EPS for the quarter, topping the Zacks’ consensus estimate 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 company earned $3.20 EPS. The company’s revenue was up .2% on a year-over-year basis.
In related news, EVP Harri U. Kulovaara sold 7,580 shares of the business’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $119.61, for a total value of $906,643.80. Following the completion of the sale, the executive vice president now directly owns 23,493 shares of the company’s stock, valued at approximately $2,809,997.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Richard D. Fain sold 20,000 shares of the business’s stock in a transaction that occurred on Friday, October 13th. The stock was sold at an average price of $125.70, for a total value of $2,514,000.00. The disclosure for this sale can be found here. Insiders sold a total of 67,580 shares of company stock valued at $8,225,444 over the last ninety days. 15.30% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of RCL. Ameriprise Financial Inc. increased its holdings in Royal Caribbean Cruises by 105.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 3,378,863 shares of the company’s stock worth $400,541,000 after purchasing an additional 1,732,995 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of Royal Caribbean Cruises by 158.3% in the third quarter. American Century Companies Inc. now owns 1,373,175 shares of the company’s stock valued at $162,776,000 after acquiring an additional 841,498 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Royal Caribbean Cruises by 4.1% in the second quarter. Vanguard Group Inc. now owns 17,178,558 shares of the company’s stock valued at $1,876,413,000 after acquiring an additional 673,608 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Royal Caribbean Cruises by 1,754.5% in the second quarter. PNC Financial Services Group Inc. now owns 684,387 shares of the company’s stock valued at $74,756,000 after acquiring an additional 647,483 shares in the last quarter. Finally, Capital Growth Management LP bought a new position in shares of Royal Caribbean Cruises in the second quarter valued at approximately $61,933,000. 71.12% of the stock is owned by hedge funds and other institutional investors.
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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