Royal Caribbean Cruises (NYSE:RCL) Downgraded by Argus to Hold

Argus cut shares of Royal Caribbean Cruises (NYSE:RCL) from a buy rating to a hold rating in a research note issued to investors on Tuesday, BenzingaRatingsTable reports.

Several other research firms have also recently commented on RCL. Wedbush restated an underweight rating and issued a $145.00 target price (up previously from $140.00) on shares of Royal Caribbean Cruises in a research report on Thursday, May 2nd. They noted that the move was a valuation call. Nomura decreased their target price on shares of Royal Caribbean Cruises from $152.00 to $150.00 and set a buy rating for the company in a research report on Friday, June 7th. ValuEngine cut shares of Royal Caribbean Cruises from a hold rating to a sell rating in a research report on Thursday, August 1st. Zacks Investment Research cut shares of Royal Caribbean Cruises from a buy rating to a hold rating in a research report on Monday, April 15th. Finally, Stifel Nicolaus upped their target price on shares of Royal Caribbean Cruises from $150.00 to $151.00 and gave the stock a buy rating in a research report on Friday, July 26th. Two analysts have rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company’s stock. Royal Caribbean Cruises currently has an average rating of Hold and an average target price of $142.50.

NYSE RCL opened at $109.03 on Tuesday. Royal Caribbean Cruises has a 52 week low of $89.48 and a 52 week high of $133.60. The company has a current ratio of 0.17, a quick ratio of 0.15 and a debt-to-equity ratio of 0.83. The company has a market cap of $22.89 billion, a PE ratio of 12.31, a price-to-earnings-growth ratio of 1.06 and a beta of 1.34. The stock has a 50-day moving average price of $113.10.

Royal Caribbean Cruises (NYSE:RCL) last posted its earnings results on Thursday, July 25th. The company reported $2.54 EPS for the quarter, topping the consensus estimate of $2.45 by $0.09. Royal Caribbean Cruises had a net margin of 17.82% and a return on equity of 17.39%. The firm had revenue of $2.81 billion during the quarter, compared to analysts’ expectations of $2.79 billion. During the same quarter in the prior year, the firm earned $2.27 EPS. Royal Caribbean Cruises’s quarterly revenue was up 20.1% on a year-over-year basis. As a group, equities research analysts anticipate that Royal Caribbean Cruises will post 9.67 earnings per share for the current year.

In other news, CEO Richard D. Fain sold 20,000 shares of the stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $108.46, for a total value of $2,169,200.00. Following the completion of the transaction, the chief executive officer now directly owns 905,651 shares in the company, valued at $98,226,907.46. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 13.07% of the company’s stock.

Several institutional investors have recently bought and sold shares of RCL. Cornerstone Advisors Inc. lifted its stake in Royal Caribbean Cruises by 3.8% during the first quarter. Cornerstone Advisors Inc. now owns 2,294 shares of the company’s stock valued at $263,000 after purchasing an additional 84 shares during the last quarter. Intrust Bank NA lifted its stake in Royal Caribbean Cruises by 3.4% during the first quarter. Intrust Bank NA now owns 2,754 shares of the company’s stock valued at $315,000 after purchasing an additional 91 shares during the last quarter. BancorpSouth Bank lifted its stake in Royal Caribbean Cruises by 2.6% during the second quarter. BancorpSouth Bank now owns 3,860 shares of the company’s stock valued at $468,000 after purchasing an additional 96 shares during the last quarter. Louisiana State Employees Retirement System lifted its stake in Royal Caribbean Cruises by 1.1% during the first quarter. Louisiana State Employees Retirement System now owns 9,100 shares of the company’s stock valued at $1,043,000 after purchasing an additional 100 shares during the last quarter. Finally, Commonwealth Bank of Australia lifted its stake in Royal Caribbean Cruises by 0.5% during the first quarter. Commonwealth Bank of Australia now owns 21,279 shares of the company’s stock valued at $2,434,000 after purchasing an additional 100 shares during the last quarter. Institutional investors and hedge funds own 72.72% of the company’s stock.

About Royal Caribbean Cruises

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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