Shares of Royal Caribbean Cruises (NYSE:RCL) have been assigned an average rating of “Buy” from the seventeen ratings firms that are covering the stock, MarketBeat.com reports. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $139.50.
Several analysts recently weighed in on the company. Zacks Investment Research upgraded Royal Caribbean Cruises from a “hold” rating to a “buy” rating and set a $132.00 price target on the stock in a report on Wednesday, March 28th. ValuEngine upgraded Royal Caribbean Cruises from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. SunTrust Banks increased their price target on Royal Caribbean Cruises to $149.00 and gave the company a “buy” rating in a report on Wednesday, January 17th. Finally, Stifel Nicolaus increased their price target on Royal Caribbean Cruises from $150.00 to $152.00 and gave the company a “buy” rating in a report on Thursday, January 25th.
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In other Royal Caribbean Cruises news, CEO Richard D. Fain sold 20,000 shares of the stock in a transaction on Friday, April 13th. The stock was sold at an average price of $114.84, for a total value of $2,296,800.00. Following the sale, the chief executive officer now owns 885,037 shares in the company, valued at $101,637,649.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CFO Jason T. Liberty sold 10,844 shares of the stock in a transaction on Wednesday, February 21st. The stock was sold at an average price of $132.04, for a total value of $1,431,841.76. Following the completion of the sale, the chief financial officer now owns 44,089 shares in the company, valued at approximately $5,821,511.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 69,904 shares of company stock worth $8,759,535. Insiders own 15.26% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in RCL. Buckingham Capital Management Inc. increased its stake in Royal Caribbean Cruises by 9.8% in the third quarter. Buckingham Capital Management Inc. now owns 19,599 shares of the company’s stock worth $2,323,000 after purchasing an additional 1,747 shares during the period. Nisa Investment Advisors LLC increased its stake in Royal Caribbean Cruises by 2.9% in the fourth quarter. Nisa Investment Advisors LLC now owns 71,340 shares of the company’s stock worth $8,509,000 after purchasing an additional 2,000 shares during the period. First United Bank Trust increased its stake in Royal Caribbean Cruises by 19.2% in the fourth quarter. First United Bank Trust now owns 12,877 shares of the company’s stock worth $1,536,000 after purchasing an additional 2,077 shares during the period. Convergence Investment Partners LLC increased its stake in Royal Caribbean Cruises by 5.7% in the fourth quarter. Convergence Investment Partners LLC now owns 16,709 shares of the company’s stock worth $1,993,000 after purchasing an additional 895 shares during the period. Finally, Bank of Montreal Can increased its stake in Royal Caribbean Cruises by 71.1% in the fourth quarter. Bank of Montreal Can now owns 1,241,654 shares of the company’s stock worth $148,103,000 after purchasing an additional 515,962 shares during the period. Institutional investors and hedge funds own 75.53% of the company’s stock.
NYSE RCL opened at $107.99 on Monday. The company has a quick ratio of 0.18, a current ratio of 0.20 and a debt-to-equity ratio of 0.72. The company has a market cap of $22.58 billion, a PE ratio of 13.97, a PEG ratio of 0.76 and a beta of 1.23. Royal Caribbean Cruises has a one year low of $106.62 and a one year high of $108.50.
Royal Caribbean Cruises (NYSE:RCL) last posted its earnings results on Thursday, April 26th. The company reported $1.09 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.12. The firm 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 company’s quarterly revenue was up 1.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.99 EPS. sell-side analysts expect that Royal Caribbean Cruises will post 8.86 EPS for the current year.
Royal Caribbean Cruises announced that its board has authorized a share repurchase program on Wednesday, May 9th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to buy up to 4.5% of its stock through open market purchases. Stock repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 3rd. Shareholders of record on Monday, June 4th will be paid a $0.60 dividend. The ex-dividend date is Friday, June 1st. This represents a $2.40 dividend on an annualized basis and a yield of 2.22%. Royal Caribbean Cruises’s payout ratio is 31.87%.
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.