Comerica Bank grew its holdings in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL – GetRating) by 3.7% in the 1st quarter, HoldingsChannel.com reports. The firm owned 27,623 shares of the company’s stock after purchasing an additional 978 shares during the quarter. Comerica Bank’s holdings in Royal Caribbean Cruises were worth $2,330,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Massmutual Trust Co. FSB ADV lifted its holdings in shares of Royal Caribbean Cruises by 303.5% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 347 shares of the company’s stock valued at $27,000 after purchasing an additional 261 shares during the last quarter. Cassady Schiller Wealth Management LLC purchased a new stake in shares of Royal Caribbean Cruises during the 4th quarter valued at $37,000. Landmark Wealth Management LLC purchased a new stake in shares of Royal Caribbean Cruises during the 1st quarter valued at $50,000. Allegheny Financial Group LTD acquired a new position in shares of Royal Caribbean Cruises in the 4th quarter valued at $40,000. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Royal Caribbean Cruises in the 4th quarter valued at $42,000. Hedge funds and other institutional investors own 73.74% of the company’s stock.
Royal Caribbean Cruises Price Performance
Shares of RCL opened at $34.87 on Friday. The business’s 50-day moving average is $44.05 and its two-hundred day moving average is $66.23. The company has a market capitalization of $8.89 billion, a P/E ratio of -1.68 and a beta of 2.52. The company has a debt-to-equity ratio of 5.00, a quick ratio of 0.37 and a current ratio of 0.40. Royal Caribbean Cruises Ltd. has a fifty-two week low of $31.09 and a fifty-two week high of $98.27.
Royal Caribbean Cruises (NYSE:RCL – GetRating) last posted its earnings results on Thursday, May 5th. The company reported ($4.57) EPS for the quarter, beating analysts’ consensus estimates of ($4.68) by $0.11. Royal Caribbean Cruises had a negative return on equity of 83.99% and a negative net margin of 207.74%. The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same period last year, the firm earned ($4.44) EPS. The company’s quarterly revenue was up 2421.1% on a year-over-year basis. Research analysts predict that Royal Caribbean Cruises Ltd. will post -6.3 earnings per share for the current year.
Analyst Upgrades and Downgrades
Several research firms recently issued reports on RCL. Susquehanna Bancshares began coverage on Royal Caribbean Cruises in a research report on Thursday, June 9th. They issued a “positive” rating and a $70.00 target price on the stock. Truist Financial cut their target price on Royal Caribbean Cruises from $70.00 to $65.00 and set a “hold” rating on the stock in a research report on Thursday, May 19th. Morgan Stanley cut their target price on Royal Caribbean Cruises from $59.00 to $54.00 and set an “underweight” rating on the stock in a research report on Wednesday, June 8th. Susquehanna began coverage on Royal Caribbean Cruises in a research report on Thursday, June 9th. They issued a “positive” rating and a $70.00 target price on the stock. Finally, Deutsche Bank Aktiengesellschaft cut their target price on Royal Caribbean Cruises from $76.00 to $50.00 and set a “hold” rating on the stock in a research report on Tuesday, June 21st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $76.10.
Royal Caribbean Cruises Company Profile
Royal Caribbean Cruises Ltd. operates as a cruise company worldwide. The company operates cruises under the Royal Caribbean International, Celebrity Cruises, Azamara, and Silversea Cruises brands, which comprise a range of itineraries that call on approximately 1,000 destinations. As of February 25, 2022, it operated 61 ships.
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