Royal Caribbean Cruises (RCL) Given New $150.00 Price Target at Bank of America

Royal Caribbean Cruises (NYSE:RCL) had its price target boosted by research analysts at Bank of America from $138.00 to $150.00 in a research note issued to investors on Wednesday. The brokerage presently has a “neutral” rating on the stock. Bank of America’s price objective points to a potential upside of 14.96% from the stock’s current price.

Other equities research analysts also recently issued reports about the company. Zacks Investment Research upgraded Royal Caribbean Cruises from a “hold” rating to a “buy” rating and set a $125.00 price objective for the company in a report on Wednesday, August 8th. ValuEngine upgraded Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a report on Thursday, July 19th. Susquehanna Bancshares lifted their price objective on Royal Caribbean Cruises from $142.00 to $146.00 and gave the stock a “positive” rating in a report on Friday, June 15th. Morgan Stanley reduced their price objective on Royal Caribbean Cruises from $130.00 to $110.00 and set an “equal weight” rating for the company in a report on Tuesday, June 5th. Finally, Citigroup reduced their price objective on Royal Caribbean Cruises from $138.00 to $136.00 and set a “buy” rating for the company in a report on Friday, August 17th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $141.53.

Shares of NYSE:RCL traded up $1.06 on Wednesday, hitting $130.48. 69,405 shares of the company traded hands, compared to its average volume of 1,537,395. Royal Caribbean Cruises has a 52 week low of $101.20 and a 52 week high of $135.65. The company has a market capitalization of $27.17 billion, a PE ratio of 17.34, a PEG ratio of 0.92 and a beta of 1.18. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.20 and a quick ratio of 0.18.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings data on Thursday, August 2nd. The company reported $2.27 EPS for the quarter, topping the consensus estimate of $1.97 by $0.30. Royal Caribbean Cruises had a return on equity of 16.50% and a net margin of 19.31%. The company had revenue of $2.34 billion during the quarter, compared to the consensus estimate of $2.34 billion. During the same period last year, the company earned $1.71 EPS. Royal Caribbean Cruises’s revenue for the quarter was up 6.5% on a year-over-year basis. sell-side analysts anticipate that Royal Caribbean Cruises will post 8.9 earnings per share for the current fiscal year.

In other Royal Caribbean Cruises news, EVP Harri U. Kulovaara sold 6,600 shares of the firm’s stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $125.55, for a total value of $828,630.00. Following the transaction, the executive vice president now directly owns 26,165 shares of the company’s stock, valued at $3,285,015.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 15.26% of the company’s stock.

A number of large investors have recently made changes to their positions in the business. Royal London Asset Management Ltd. purchased a new position in Royal Caribbean Cruises in the second quarter worth about $7,578,000. Schroder Investment Management Group boosted its position in Royal Caribbean Cruises by 103.9% in the second quarter. Schroder Investment Management Group now owns 123,967 shares of the company’s stock worth $12,929,000 after purchasing an additional 63,183 shares during the last quarter. Massmutual Trust Co. FSB ADV boosted its position in Royal Caribbean Cruises by 1,992.7% in the second quarter. Massmutual Trust Co. FSB ADV now owns 5,985 shares of the company’s stock worth $620,000 after purchasing an additional 5,699 shares during the last quarter. Delphi Management Inc. MA boosted its position in Royal Caribbean Cruises by 10.1% in the second quarter. Delphi Management Inc. MA now owns 21,063 shares of the company’s stock worth $2,375,000 after purchasing an additional 1,925 shares during the last quarter. Finally, Global X Management Co LLC boosted its position in Royal Caribbean Cruises by 33.8% in the second quarter. Global X Management Co LLC now owns 6,703 shares of the company’s stock worth $694,000 after purchasing an additional 1,693 shares during the last quarter. 70.99% of the stock is currently owned by institutional investors and hedge funds.

About Royal Caribbean Cruises

Royal Caribbean Cruises Ltd. operates as a cruise company. The company operates cruises under the Royal Caribbean International, Celebrity Cruises, and Azamara Club 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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