Royal Caribbean Group (NYSE:RCL) Price Target Raised to $60.00

Royal Caribbean Group (NYSE:RCL) had its price objective raised by Berenberg Bank from $45.00 to $60.00 in a research report sent to investors on Thursday, The Fly reports. They currently have a hold rating on the stock.

Several other equities research analysts also recently commented on RCL. Stifel Nicolaus decreased their price objective on Royal Caribbean Group from $85.00 to $72.00 and set a buy rating for the company in a report on Tuesday, August 11th. SunTrust Banks downgraded Royal Caribbean Group from a buy rating to a hold rating and set a $48.00 price objective for the company. in a report on Tuesday, July 14th. Deutsche Bank Aktiengesellschaft boosted their price objective on Royal Caribbean Group from $36.00 to $40.00 and gave the company a hold rating in a report on Tuesday, June 23rd. JPMorgan Chase & Co. lifted their target price on Royal Caribbean Group from $67.00 to $79.00 in a research report on Thursday, October 8th. Finally, ValuEngine raised Royal Caribbean Group from a buy rating to a strong-buy rating in a research report on Monday, August 3rd. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of Hold and an average target price of $73.28.

Shares of RCL stock opened at $58.83 on Thursday. The company has a market cap of $12.63 billion, a P/E ratio of -6.37 and a beta of 2.66. The stock has a 50 day simple moving average of $67.20 and a two-hundred day simple moving average of $52.89. The company has a debt-to-equity ratio of 1.98, a quick ratio of 0.96 and a current ratio of 0.99. Royal Caribbean Group has a fifty-two week low of $19.25 and a fifty-two week high of $135.32.

Royal Caribbean Group (NYSE:RCL) last released its quarterly earnings data on Monday, August 10th. The company reported ($6.13) EPS for the quarter, missing the Thomson Reuters’ 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 Group had a negative net margin of 24.36% and a negative return on equity of 3.68%. The company’s revenue was down 93.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.54 EPS. On average, research analysts predict that Royal Caribbean Group will post -17 earnings per share for the current year.

In other Royal Caribbean Group news, Director Arne Alexander Wilhelmsen sold 1,400,000 shares of the business’s stock in a transaction on Monday, August 24th. The stock was sold at an average price of $63.36, for a total value of $88,704,000.00. Following the sale, the director now directly owns 12,151 shares in the company, valued at $769,887.36. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder Wilhelmsen A. S. A sold 600,000 shares of the business’s stock in a transaction on Tuesday, August 25th. The shares were sold at an average price of $63.67, for a total value of $38,202,000.00. Following the completion of the sale, the insider now owns 19,887,361 shares in the company, valued at $1,266,228,274.87. The disclosure for this sale can be found here. 13.09% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of the business. Capital Research Global Investors bought a new stake in shares of Royal Caribbean Group in the first quarter valued at $454,688,000. State Street Corp raised its stake in shares of Royal Caribbean Group by 1.7% in the first quarter. State Street Corp now owns 7,732,484 shares of the company’s stock valued at $254,455,000 after buying an additional 130,747 shares during the period. Eminence Capital LP raised its stake in shares of Royal Caribbean Group by 220.8% in the first quarter. Eminence Capital LP now owns 6,183,058 shares of the company’s stock valued at $198,909,000 after buying an additional 4,255,837 shares during the period. Geode Capital Management LLC raised its stake in shares of Royal Caribbean Group by 3.6% in the first quarter. Geode Capital Management LLC now owns 2,737,020 shares of the company’s stock valued at $87,879,000 after buying an additional 96,277 shares during the period. Finally, Capital World Investors raised its stake in shares of Royal Caribbean Group by 2,349.2% in the first quarter. Capital World Investors now owns 2,277,711 shares of the company’s stock valued at $73,274,000 after buying an additional 2,184,711 shares during the period. Hedge funds and other institutional investors own 60.43% of the company’s stock.

About Royal Caribbean Group

Royal Caribbean Group 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 19 nights.

Further Reading: Example of operating income, EBIT and EBITDA

The Fly

Analyst Recommendations for Royal Caribbean Group (NYSE:RCL)

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