Royal Caribbean Cruises (NYSE:RCL – GetRating) had its price target cut by investment analysts at Morgan Stanley from $59.00 to $54.00 in a report released on Wednesday, the fly reports. Morgan Stanley’s price target would indicate a potential downside of 4.83% from the stock’s previous close.
Other equities research analysts have also recently issued reports about the company. Wells Fargo & Company started coverage on Royal Caribbean Cruises in a report on Tuesday, March 29th. They issued an “overweight” rating and a $93.00 target price for the company. Deutsche Bank Aktiengesellschaft lowered their target price on Royal Caribbean Cruises from $81.00 to $76.00 in a report on Friday, May 6th. Truist Financial lowered their target price on Royal Caribbean Cruises from $70.00 to $65.00 and set a “hold” rating for the company in a report on Thursday, May 19th. Citigroup started coverage on Royal Caribbean Cruises in a research note on Thursday, February 10th. They set a “buy” rating and a $105.00 price objective for the company. Finally, Stifel Nicolaus decreased their price objective on Royal Caribbean Cruises from $125.00 to $118.00 and set a “buy” rating for the company in a research note on Monday, March 14th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, Royal Caribbean Cruises currently has a consensus rating of “Hold” and an average target price of $89.78.
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RCL opened at $56.74 on Wednesday. Royal Caribbean Cruises has a 52-week low of $48.90 and a 52-week high of $98.27. The stock has a market cap of $14.47 billion, a P/E ratio of -2.73 and a beta of 2.40. The business has a fifty day moving average of $70.36 and a 200 day moving average of $74.85. The company has a quick ratio of 0.37, a current ratio of 0.40 and a debt-to-equity ratio of 5.00.
Royal Caribbean Cruises (NYSE:RCL – GetRating) last issued its earnings results on Thursday, May 5th. The company reported ($4.57) earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.15 billion. During the same period in the prior year, the business earned ($4.44) EPS. The business’s revenue for the quarter was up 2421.1% compared to the same quarter last year. Equities analysts anticipate that Royal Caribbean Cruises will post -6.07 EPS for the current fiscal year.
In related news, CEO Michael W. Bayley sold 3,637 shares of the company’s stock in a transaction dated Tuesday, March 29th. The stock was sold at an average price of $80.00, for a total transaction of $290,960.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Michael W. Bayley sold 3,859 shares of the company’s stock in a transaction dated Friday, March 25th. The shares were sold at an average price of $77.02, for a total value of $297,220.18. The disclosure for this sale can be found here. Corporate insiders own 9.56% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Capital International Investors increased its holdings in shares of Royal Caribbean Cruises by 5.6% in the first quarter. Capital International Investors now owns 28,886,916 shares of the company’s stock valued at $2,419,663,000 after purchasing an additional 1,524,412 shares during the period. Vanguard Group Inc. increased its holdings in shares of Royal Caribbean Cruises by 1.4% in the first quarter. Vanguard Group Inc. now owns 23,355,449 shares of the company’s stock valued at $1,956,721,000 after purchasing an additional 314,385 shares during the period. Canada Pension Plan Investment Board increased its holdings in shares of Royal Caribbean Cruises by 3.0% in the fourth quarter. Canada Pension Plan Investment Board now owns 4,792,014 shares of the company’s stock valued at $368,506,000 after purchasing an additional 139,141 shares during the period. Geode Capital Management LLC increased its holdings in shares of Royal Caribbean Cruises by 3.3% in the fourth quarter. Geode Capital Management LLC now owns 4,061,697 shares of the company’s stock valued at $311,524,000 after purchasing an additional 131,171 shares during the period. Finally, Neuberger Berman Group LLC increased its holdings in shares of Royal Caribbean Cruises by 31.8% in the first quarter. Neuberger Berman Group LLC now owns 3,232,746 shares of the company’s stock valued at $270,748,000 after purchasing an additional 779,704 shares during the period. 73.74% of the stock is currently owned by institutional investors and hedge funds.
Royal Caribbean Cruises Company Profile (GetRating)
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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