Wells Fargo & Co Boosts Royal Caribbean Cruises (NYSE:RCL) Price Target to $158.00

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Royal Caribbean Cruises (NYSE:RCL) had its price objective boosted by investment analysts at Wells Fargo & Co from $155.00 to $158.00 in a note issued to investors on Friday, BenzingaRatingsTable reports. The firm presently has an “outperform” rating on the stock. Wells Fargo & Co‘s price target suggests a potential upside of 45.74% from the stock’s current price.

Several other research firms have also recently weighed in on RCL. ValuEngine cut shares of Royal Caribbean Cruises from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Deutsche Bank dropped their price target on shares of Royal Caribbean Cruises from $145.00 to $139.00 and set a “buy” rating for the company in a research note on Friday, July 19th. Argus cut shares of Royal Caribbean Cruises from a “buy” rating to a “hold” rating in a research note on Tuesday, August 13th. Stifel Nicolaus increased their price target on shares of Royal Caribbean Cruises from $150.00 to $151.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, Nomura dropped their price target on shares of Royal Caribbean Cruises from $152.00 to $150.00 and set a “buy” rating for the company in a research note on Friday, June 7th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and eight have assigned a buy rating to the stock. Royal Caribbean Cruises currently has a consensus rating of “Hold” and an average price target of $142.75.

Shares of Royal Caribbean Cruises stock traded up $1.47 during mid-day trading on Friday, hitting $108.41. The stock had a trading volume of 1,511,129 shares, compared to its average volume of 1,304,239. The firm has a 50-day moving average of $108.33 and a two-hundred day moving average of $116.78. Royal Caribbean Cruises has a 12-month low of $89.48 and a 12-month high of $133.60. The company has a quick ratio of 0.15, a current ratio of 0.17 and a debt-to-equity ratio of 0.83. The firm has a market cap of $22.45 billion, a P/E ratio of 12.24, a price-to-earnings-growth ratio of 1.02 and a beta of 1.37.

Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings results on Thursday, July 25th. The company reported $2.54 earnings per share for the quarter, beating 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 business 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 company posted $2.27 EPS. The business’s revenue for the quarter was up 20.1% on a year-over-year basis. Sell-side analysts expect 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 company’s 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 transaction, the chief executive officer now directly owns 905,651 shares in the company, valued at approximately $98,226,907.46. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Lawrence R. Pimentel sold 10,518 shares of the company’s stock in a transaction that occurred on Wednesday, August 21st. The stock was sold at an average price of $108.25, for a total transaction of $1,138,573.50. Following the completion of the transaction, the chief executive officer now owns 55,909 shares in the company, valued at $6,052,149.25. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 50,518 shares of company stock worth $5,512,174. Company insiders own 13.07% of the company’s stock.

Several hedge funds have recently modified their holdings of RCL. Cornerstone Advisors Inc. lifted its holdings in Royal Caribbean Cruises by 3.8% during the 1st quarter. Cornerstone Advisors Inc. now owns 2,294 shares of the company’s stock worth $263,000 after buying an additional 84 shares in the last quarter. Intrust Bank NA lifted its holdings in Royal Caribbean Cruises by 3.4% during the 1st quarter. Intrust Bank NA now owns 2,754 shares of the company’s stock worth $315,000 after buying an additional 91 shares in the last quarter. BancorpSouth Bank lifted its holdings in Royal Caribbean Cruises by 2.6% during the 2nd quarter. BancorpSouth Bank now owns 3,860 shares of the company’s stock worth $468,000 after buying an additional 96 shares in the last quarter. Commonwealth Bank of Australia lifted its holdings in Royal Caribbean Cruises by 0.5% during the 1st quarter. Commonwealth Bank of Australia now owns 21,279 shares of the company’s stock worth $2,434,000 after buying an additional 100 shares in the last quarter. Finally, Sequoia Financial Advisors LLC lifted its holdings in Royal Caribbean Cruises by 3.8% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 2,729 shares of the company’s stock worth $331,000 after buying an additional 100 shares in the last quarter. Hedge funds and other institutional investors own 72.85% 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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