Royal Caribbean Cruises (NYSE:RCL) PT Raised to $35.00 at Morgan Stanley

Royal Caribbean Cruises (NYSE:RCL) had its target price raised by equities researchers at Morgan Stanley from $33.00 to $35.00 in a report issued on Wednesday, BenzingaRatingsTable reports. The firm currently has an “underweight” rating on the stock. Morgan Stanley’s price objective would suggest a potential downside of 41.96% from the stock’s current price.

Several other brokerages have also commented on RCL. ValuEngine upgraded Royal Caribbean Cruises from a “buy” rating to a “strong-buy” rating in a research report on Monday, August 3rd. Credit Suisse Group started coverage on Royal Caribbean Cruises in a research report on Thursday, May 21st. They set an “outperform” rating and a $67.00 price target on the stock. JPMorgan Chase & Co. reduced their price target on Royal Caribbean Cruises from $72.00 to $67.00 and set an “overweight” rating on the stock in a research report on Tuesday. TheStreet lowered Royal Caribbean Cruises from a “c” rating to a “d+” rating in a research report on Wednesday, May 13th. Finally, UBS Group cut their price objective on Royal Caribbean Cruises from $110.00 to $46.00 and set a “buy” rating on the stock in a research report on Monday, April 20th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Royal Caribbean Cruises currently has an average rating of “Hold” and a consensus price target of $79.68.

Shares of Royal Caribbean Cruises stock traded up $1.80 during trading on Wednesday, hitting $60.30. 184,775 shares of the stock traded hands, compared to its average volume of 15,947,665. The company has a quick ratio of 0.49, a current ratio of 0.51 and a debt-to-equity ratio of 1.26. The stock has a market cap of $12.68 billion, a price-to-earnings ratio of 68.08 and a beta of 2.42. The firm’s fifty day moving average is $50.75 and its 200-day moving average is $58.19. Royal Caribbean Cruises has a 52 week low of $19.25 and a 52 week high of $135.32.

Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings data on Monday, August 10th. The company reported ($6.13) EPS for the quarter, missing the consensus estimate of ($4.82) by ($1.31). The firm had revenue of $175.80 million for the quarter, compared to the consensus estimate of $157.88 million. Royal Caribbean Cruises had a net margin of 1.75% and a return on equity of 12.34%. Royal Caribbean Cruises’s revenue for the quarter was down 93.7% compared to the same quarter last year. During the same quarter last year, the company posted $2.54 earnings per share. On average, analysts forecast that Royal Caribbean Cruises will post -14.6 earnings per share for the current fiscal year.

In related news, Director Donald Thompson acquired 20,000 shares of the stock in a transaction on Tuesday, May 26th. The stock was acquired at an average price of $53.24 per share, for a total transaction of $1,064,800.00. 13.09% of the stock is currently owned by insiders.

Hedge funds have recently bought and sold shares of the company. Berman Capital Advisors LLC raised its stake in shares of Royal Caribbean Cruises by 74.5% in the second quarter. Berman Capital Advisors LLC now owns 555 shares of the company’s stock worth $27,000 after purchasing an additional 237 shares during the last quarter. First Command Bank raised its stake in shares of Royal Caribbean Cruises by 211.0% in the second quarter. First Command Bank now owns 622 shares of the company’s stock worth $32,000 after purchasing an additional 422 shares during the last quarter. Valeo Financial Advisors LLC raised its stake in shares of Royal Caribbean Cruises by 67.1% in the first quarter. Valeo Financial Advisors LLC now owns 747 shares of the company’s stock worth $30,000 after purchasing an additional 300 shares during the last quarter. Golden State Wealth Management LLC bought a new stake in shares of Royal Caribbean Cruises in the first quarter worth $28,000. Finally, Sugarloaf Wealth Management LLC grew its holdings in shares of Royal Caribbean Cruises by 28.9% in the second quarter. Sugarloaf Wealth Management LLC now owns 891 shares of the company’s stock worth $45,000 after acquiring an additional 200 shares during the period. Hedge funds and other institutional investors own 66.86% 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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Analyst Recommendations for Royal Caribbean Cruises (NYSE:RCL)

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