Investors bought shares of Royal Caribbean Cruises Ltd (NYSE:RCL) on weakness during trading hours on Monday. $120.36 million flowed into the stock on the tick-up and $65.61 million flowed out of the stock on the tick-down, for a money net flow of $54.75 million into the stock. Of all equities tracked, Royal Caribbean Cruises had the 26th highest net in-flow for the day. Royal Caribbean Cruises traded down ($6.16) for the day and closed at $105.39
A number of equities analysts recently weighed in on RCL shares. Zacks Investment Research lowered shares of Royal Caribbean Cruises from a “buy” rating to a “hold” rating and set a $129.00 price target on the stock. in a research report on Wednesday, April 11th. Morgan Stanley lowered their price target on shares of Royal Caribbean Cruises from $130.00 to $110.00 and set an “equal weight” rating on the stock in a research report on Tuesday, June 5th. JPMorgan Chase & Co. boosted their price target on shares of Royal Caribbean Cruises from $150.00 to $151.00 and gave the stock an “overweight” rating in a research report on Friday, June 15th. ValuEngine lowered shares of Royal Caribbean Cruises from a “hold” rating to a “sell” rating in a research report on Monday, May 7th. Finally, Stifel Nicolaus boosted their price target on shares of Royal Caribbean Cruises from $152.00 to $153.00 and gave the stock a “buy” rating in a research report on Friday, April 27th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $135.88.
The company has a current ratio of 0.20, a quick ratio of 0.18 and a debt-to-equity ratio of 0.72. The firm has a market cap of $22.32 billion, a price-to-earnings ratio of 14.12, a PEG ratio of 0.75 and a beta of 1.23.
Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings data on Thursday, April 26th. The company reported $1.09 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.97 by $0.12. Royal Caribbean Cruises had a net margin of 18.52% and a return on equity of 15.85%. The business had revenue of $2.03 billion during the quarter, compared to the consensus estimate of $2.04 billion. During the same period in the previous year, the firm posted $0.99 earnings per share. The business’s revenue for the quarter was up 1.0% compared to the same quarter last year. research analysts expect that Royal Caribbean Cruises Ltd will post 8.83 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 3rd. Stockholders of record on Monday, June 4th will be paid a dividend of $0.60 per share. The ex-dividend date is Friday, June 1st. This represents a $2.40 annualized dividend and a dividend yield of 2.26%. Royal Caribbean Cruises’s payout ratio is currently 31.87%.
Royal Caribbean Cruises announced that its board has approved a stock buyback program on Wednesday, May 9th that authorizes the company to buyback $1.00 billion in shares. This buyback authorization authorizes the company to purchase up to 4.5% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s management believes its stock is undervalued.
In other news, CEO Richard D. Fain sold 20,000 shares of Royal Caribbean Cruises stock in a transaction on Wednesday, June 13th. The shares were sold at an average price of $108.22, for a total transaction of $2,164,400.00. Following the completion of the sale, the chief executive officer now directly owns 859,337 shares in the company, valued at $92,997,450.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 15.26% of the company’s stock.
Institutional investors have recently modified their holdings of the stock. Envestnet Asset Management Inc. raised its holdings in shares of Royal Caribbean Cruises by 28.5% during the fourth quarter. Envestnet Asset Management Inc. now owns 25,532 shares of the company’s stock worth $3,047,000 after purchasing an additional 5,660 shares during the last quarter. Jefferies Group LLC raised its holdings in shares of Royal Caribbean Cruises by 104.3% during the fourth quarter. Jefferies Group LLC now owns 105,287 shares of the company’s stock worth $12,559,000 after purchasing an additional 53,763 shares during the last quarter. Schroder Investment Management Group raised its holdings in shares of Royal Caribbean Cruises by 39.5% during the fourth quarter. Schroder Investment Management Group now owns 84,602 shares of the company’s stock worth $10,091,000 after purchasing an additional 23,956 shares during the last quarter. Brandywine Global Investment Management LLC raised its holdings in shares of Royal Caribbean Cruises by 3.1% during the fourth quarter. Brandywine Global Investment Management LLC now owns 193,937 shares of the company’s stock worth $23,133,000 after purchasing an additional 5,759 shares during the last quarter. Finally, Kemnay Advisory Services Inc. purchased a new position in shares of Royal Caribbean Cruises during the fourth quarter worth $1,226,000. 71.17% of the stock is owned by hedge funds and other institutional investors.
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.
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