A number of other brokerages also recently weighed in on RCL. Citigroup reduced their price target on shares of Royal Caribbean Cruises from $138.00 to $136.00 and set a buy rating for the company in a report on Friday, August 17th. Barclays started coverage on shares of Royal Caribbean Cruises in a report on Friday, August 3rd. They issued an overweight rating for the company. Morgan Stanley increased their price target on shares of Royal Caribbean Cruises from $110.00 to $120.00 and gave the company a hold rating in a report on Thursday, September 6th. ValuEngine raised shares of Royal Caribbean Cruises from a sell rating to a hold rating in a report on Thursday, July 19th. Finally, Deutsche Bank raised shares of Royal Caribbean Cruises from a hold rating to a buy rating and increased their price target for the company from $135.00 to $146.00 in a report on Wednesday, August 29th. Five equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock has an average rating of Buy and a consensus price target of $142.07.
Royal Caribbean Cruises stock traded down $1.45 during mid-day trading on Thursday, reaching $115.18. The company had a trading volume of 2,438,680 shares, compared to its average volume of 1,656,236. 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 has a 52 week low of $101.20 and a 52 week high of $135.65. The company has a market cap of $24.07 billion, a PE ratio of 15.30, a price-to-earnings-growth ratio of 0.82 and a beta of 1.17.
The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 11th. Stockholders of record on Friday, September 21st were paid a $0.70 dividend. This is a boost from Royal Caribbean Cruises’s previous quarterly dividend of $0.60. The ex-dividend date was Thursday, September 20th. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.43%. Royal Caribbean Cruises’s dividend payout ratio is currently 37.18%.
In other news, EVP Harri U. Kulovaara sold 6,600 shares of the stock in a transaction on Thursday, September 13th. The shares were sold at an average price of $125.55, for a total value of $828,630.00. Following the completion of the transaction, the executive vice president now owns 26,165 shares in the company, valued at approximately $3,285,015.75. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 15.26% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Swiss National Bank increased its position in shares of Royal Caribbean Cruises by 2.8% during the 2nd quarter. Swiss National Bank now owns 565,238 shares of the company’s stock worth $58,559,000 after purchasing an additional 15,600 shares in the last quarter. Hexavest Inc. increased its position in shares of Royal Caribbean Cruises by 44.9% during the 3rd quarter. Hexavest Inc. now owns 542,895 shares of the company’s stock worth $70,544,000 after purchasing an additional 168,242 shares in the last quarter. Davy Asset Management Ltd acquired a new stake in shares of Royal Caribbean Cruises during the 2nd quarter worth about $1,314,000. Legacy Capital Partners Inc. increased its position in shares of Royal Caribbean Cruises by 7.2% during the 3rd quarter. Legacy Capital Partners Inc. now owns 6,552 shares of the company’s stock worth $851,000 after purchasing an additional 441 shares in the last quarter. Finally, Putnam Investments LLC increased its position in shares of Royal Caribbean Cruises by 3.9% during the 2nd quarter. Putnam Investments LLC now owns 216,639 shares of the company’s stock worth $22,444,000 after purchasing an additional 8,190 shares in the last quarter. Institutional investors own 71.27% 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, 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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