Royal Caribbean Cruises’ (RCL) Outperform Rating Reaffirmed at Wedbush

Royal Caribbean Cruises Ltd. (NYSE:RCL)‘s stock had its “outperform” rating reiterated by analysts at Wedbush in a report released on Tuesday, August 8th. They presently have a $129.00 price target on the stock, up from their previous price target of $125.00. Wedbush’s price objective would suggest a potential upside of 8.58% from the stock’s current price.

Several other equities research analysts have also recently issued reports on RCL. Stifel Nicolaus raised their target price on Royal Caribbean Cruises from $115.00 to $125.00 and gave the stock a “buy” rating in a research note on Monday, May 1st. Goldman Sachs Group, Inc. (The) raised their target price on Royal Caribbean Cruises from $90.00 to $94.00 and gave the stock a “sell” rating in a research note on Monday, May 1st. Deutsche Bank AG lowered their price target on Royal Caribbean Cruises from $102.00 to $91.00 and set a “hold” rating for the company in a research report on Tuesday, May 2nd. Wells Fargo & Company restated an “outperform” rating and set a $119.50 price target (up from $117.50) on shares of Royal Caribbean Cruises in a research report on Tuesday, May 2nd. Finally, Zacks Investment Research lowered Royal Caribbean Cruises from a “buy” rating to a “hold” rating in a research report on Monday, May 29th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the company. Royal Caribbean Cruises presently has a consensus rating of “Buy” and a consensus price target of $117.23.

Royal Caribbean Cruises (NYSE RCL) traded down 0.34% during trading on Tuesday, reaching $118.81. The company had a trading volume of 1,747,300 shares. The firm has a market capitalization of $25.56 billion, a price-to-earnings ratio of 16.67 and a beta of 1.06. Royal Caribbean Cruises has a 52 week low of $65.10 and a 52 week high of $122.96. The company’s 50-day moving average is $114.61 and its 200 day moving average is $105.28.

Royal Caribbean Cruises (NYSE:RCL) last posted its earnings results on Tuesday, August 1st. The company reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.67 by $0.04. The company had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.19 billion. Royal Caribbean Cruises had a return on equity of 16.71% and a net margin of 17.73%. The firm’s quarterly revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the firm earned $1.09 earnings per share. Equities analysts anticipate that Royal Caribbean Cruises will post $7.44 EPS for the current year.

Royal Caribbean Cruises announced that its Board of Directors has initiated a share buyback program on Friday, April 28th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to purchase up to 2.2% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.

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In other Royal Caribbean Cruises news, EVP Harri U. Kulovaara sold 7,580 shares of Royal Caribbean Cruises stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $119.61, for a total transaction 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Adam M. Goldstein sold 120,000 shares of Royal Caribbean Cruises stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $118.21, for a total value of $14,185,200.00. Following the sale, the chief operating officer now directly owns 191,252 shares of the company’s stock, valued at $22,607,898.92. The disclosure for this sale can be found here. Insiders have sold a total of 460,079 shares of company stock valued at $53,714,055 over the last ninety days. 15.30% of the stock is owned by company insiders.

Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. boosted its stake in Royal Caribbean Cruises by 3,290.6% in the first quarter. BlackRock Inc. now owns 10,359,358 shares of the company’s stock worth $1,016,356,000 after buying an additional 10,053,823 shares during the period. Vanguard Group Inc. boosted its stake in Royal Caribbean Cruises by 4.1% in the second quarter. Vanguard Group Inc. now owns 17,178,558 shares of the company’s stock worth $1,876,413,000 after buying an additional 673,608 shares during the period. PNC Financial Services Group Inc. boosted its stake in 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 worth $74,756,000 after buying an additional 647,483 shares during the period. Capital Growth Management LP purchased a new stake in Royal Caribbean Cruises during the second quarter worth approximately $61,933,000. Finally, American Century Companies Inc. boosted its stake in Royal Caribbean Cruises by 9,025.9% in the second quarter. American Century Companies Inc. now owns 531,677 shares of the company’s stock worth $58,075,000 after buying an additional 525,851 shares during the period. Institutional investors and hedge funds own 72.26% of the company’s stock.

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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