Royal Caribbean Group (NYSE:RCL) – Investment analysts at Wedbush lifted their FY2023 earnings per share estimates for shares of Royal Caribbean Group in a report issued on Friday, April 30th. Wedbush analyst J. Hardiman now forecasts that the company will post earnings of $8.34 per share for the year, up from their prior estimate of $8.23.
Several other brokerages also recently weighed in on RCL. The Goldman Sachs Group increased their price target on Royal Caribbean Group from $76.00 to $95.00 and gave the stock a “neutral” rating in a report on Tuesday, April 27th. Deutsche Bank Aktiengesellschaft raised their price objective on Royal Caribbean Group from $62.00 to $79.00 and gave the stock a “hold” rating in a report on Tuesday, February 23rd. Credit Suisse Group raised their price objective on Royal Caribbean Group from $76.00 to $117.00 and gave the stock an “outperform” rating in a report on Wednesday, February 24th. JPMorgan Chase & Co. raised their price objective on Royal Caribbean Group from $100.00 to $110.00 and gave the stock an “overweight” rating in a report on Monday, March 22nd. Finally, Morgan Stanley increased their target price on Royal Caribbean Group from $50.00 to $61.00 and gave the company an “underweight” rating in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $77.13.
Shares of RCL stock opened at $86.95 on Monday. Royal Caribbean Group has a 1 year low of $31.41 and a 1 year high of $99.24. The company has a debt-to-equity ratio of 2.12, a current ratio of 0.76 and a quick ratio of 0.73. The stock’s 50 day simple moving average is $87.12 and its two-hundred day simple moving average is $76.42. The company has a market cap of $22.13 billion, a PE ratio of -4.41 and a beta of 2.86. Royal Caribbean Group (NYSE:RCL) last released its quarterly earnings data on Thursday, April 29th. The company reported ($4.44) earnings per share for the quarter, topping analysts’ consensus estimates of ($4.54) by $0.10. Royal Caribbean Group had a negative return on equity of 25.20% and a negative net margin of 24.36%.
What companies will benefit the most from full legalization? You might be surprised! And this full report reveals everything you need to know…
In other news, CFO Jason T. Liberty sold 34,778 shares of the stock in a transaction dated Monday, April 5th. The shares were sold at an average price of $90.17, for a total transaction of $3,135,932.26. Following the completion of the sale, the chief financial officer now owns 115,251 shares in the company, valued at $10,392,182.67. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Lisa Lutoff-Perlo sold 23,702 shares of the stock in a transaction dated Monday, April 5th. The stock was sold at an average price of $90.00, for a total transaction of $2,133,180.00. Following the sale, the chief executive officer now owns 73,391 shares of the company’s stock, valued at approximately $6,605,190. The disclosure for this sale can be found here. Insiders have sold 76,688 shares of company stock worth $6,980,182 in the last ninety days. Corporate insiders own 13.09% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of RCL. Dimensional Fund Advisors LP grew its position in shares of Royal Caribbean Group by 3.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,343,402 shares of the company’s stock valued at $175,018,000 after purchasing an additional 69,757 shares during the last quarter. Norges Bank acquired a new stake in Royal Caribbean Group during the fourth quarter worth approximately $153,899,000. Northern Trust Corp boosted its position in Royal Caribbean Group by 0.5% during the fourth quarter. Northern Trust Corp now owns 2,040,372 shares of the company’s stock worth $152,394,000 after acquiring an additional 10,994 shares during the last quarter. Nuveen Asset Management LLC boosted its position in Royal Caribbean Group by 3.2% during the fourth quarter. Nuveen Asset Management LLC now owns 1,357,475 shares of the company’s stock worth $101,390,000 after acquiring an additional 42,671 shares during the last quarter. Finally, Morgan Stanley boosted its position in Royal Caribbean Group by 176.2% during the fourth quarter. Morgan Stanley now owns 1,199,606 shares of the company’s stock worth $89,597,000 after acquiring an additional 765,284 shares during the last quarter. 59.07% of the stock is owned by hedge funds and other institutional investors.
About Royal Caribbean Group
Royal Caribbean Group operates as a cruise company worldwide. The company operates cruises under the Royal Caribbean International, Celebrity Cruises, Azamara, and Silversea Cruises brands, which comprise a range of itineraries that call on approximately 1,000 destinations. As of December 31, 2020, it operated 61 ships with an aggregate capacity of approximately 137,930 berths.
Read More: Cash Flow Analysis in Stock Selection
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Featured Article: What is Depreciation?
7 Stocks That Still Have Upside For Investors to Buy
It can be fun to invest in some speculative stocks. But it should go without saying that those stocks shouldn’t make up the bulk of your portfolio. In fact, it’s important to find a few good stocks that make up the base of your portfolio. These are momentum stocks that are in a strong uptrend.
One way to find such stocks is to look at the most active stocks (or volume leaders). Shares of these companies are among the most traded or have the highest dollar volume of shares traded in a given trading day.
Any stock may crack this list from time to time (for example, when there’s new news about the company). However, stocks tend to find their way on this list consistently that bear watching. That’s because this list indicates that there is pressure among investors to buy or sell the stock. And that makes an investor’s decision very simple.
And that’s the reason we created this special presentation. The stocks on this list are among the most actively traded stocks on the market today. They also share a similar quality. They are coming off strong years in 2020 and seem to be showing some consolidation for another leg up.
View the “7 Stocks That Still Have Upside For Investors to Buy”.