Royal Caribbean Cruises Ltd (NYSE:RCL) – Wedbush dropped their FY2019 EPS estimates for Royal Caribbean Cruises in a report released on Monday, June 24th, according to Zacks Investment Research. Wedbush analyst J. Hardiman now anticipates that the company will post earnings per share of $9.54 for the year, down from their prior forecast of $9.89. Wedbush currently has a “Underweight” rating and a $145.00 price target on the stock.
Several other research firms have also weighed in on RCL. Buckingham Research raised their price objective on Royal Caribbean Cruises from $148.00 to $158.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Citigroup raised their price objective on SolarWinds from $20.00 to $23.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. Nomura decreased their target price on Signet Jewelers from $28.00 to $21.00 and set a “neutral” rating for the company in a research report on Friday, June 7th. Deutsche Bank cut Hilton Hotels from a “buy” rating to a “hold” rating and set a $92.60 target price for the company. in a research report on Wednesday, May 1st. They noted that the move was a valuation call. Finally, Zacks Investment Research raised GreenTree Hospitality Group from a “sell” rating to a “hold” rating in a research report on Monday, April 15th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $143.75.
Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings results on Wednesday, May 1st. The company reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.20. The firm had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.38 billion. Royal Caribbean Cruises had a return on equity of 17.23% and a net margin of 18.60%. The firm’s quarterly revenue was up 20.3% on a year-over-year basis. During the same period last year, the company posted $1.09 EPS.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 3rd. Shareholders of record on Tuesday, June 4th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.52%. The ex-dividend date was Monday, June 3rd. Royal Caribbean Cruises’s payout ratio is 31.60%.
In other Royal Caribbean Cruises news, Director Maritza Gomez Montiel sold 2,700 shares of the business’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $126.49, for a total transaction of $341,523.00. Following the sale, the director now directly owns 3,081 shares of the company’s stock, valued at approximately $389,715.69. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Henry L. Pujol sold 4,134 shares of the business’s stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $128.20, for a total transaction of $529,978.80. Following the sale, the senior vice president now directly owns 45,342 shares in the company, valued at $5,812,844.40. The disclosure for this sale can be found here. Insiders have sold a total of 26,834 shares of company stock valued at $3,075,902 in the last quarter. Corporate insiders own 13.07% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Rational Advisors LLC lifted its holdings in Royal Caribbean Cruises by 1,060.0% during the 1st quarter. Rational Advisors LLC now owns 232 shares of the company’s stock worth $27,000 after buying an additional 212 shares during the last quarter. Front Row Advisors LLC lifted its holdings in Royal Caribbean Cruises by 475.0% during the 1st quarter. Front Row Advisors LLC now owns 230 shares of the company’s stock worth $27,000 after buying an additional 190 shares during the last quarter. JOYN Advisors Inc. raised its position in shares of Royal Caribbean Cruises by 118.2% during the 4th quarter. JOYN Advisors Inc. now owns 312 shares of the company’s stock worth $31,000 after purchasing an additional 169 shares during the period. Central Bank & Trust Co. acquired a new stake in shares of Royal Caribbean Cruises during the 2nd quarter worth approximately $37,000. Finally, First Manhattan Co. acquired a new stake in shares of Royal Caribbean Cruises during the 1st quarter worth approximately $40,000. Institutional investors and hedge funds own 72.82% of the company’s stock.
Royal Caribbean Cruises Company Profile
Royal Caribbean Cruises Ltd. operates as a cruise company. The company operates cruises under the Royal Caribbean International, Celebrity Cruises, Azamara Club Cruises, and Silversea 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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