Northern Trust Corp lessened its stake in shares of Royal Caribbean Cruises Ltd (NYSE:RCL) by 4.4% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,869,552 shares of the company’s stock after selling 85,243 shares during the period. Northern Trust Corp owned 0.89% of Royal Caribbean Cruises worth $193,685,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. First Mercantile Trust Co. purchased a new stake in Royal Caribbean Cruises in the 2nd quarter valued at about $145,000. Squar Milner Financial Services LLC purchased a new stake in Royal Caribbean Cruises in the 2nd quarter valued at about $164,000. Bronfman E.L. Rothschild L.P. raised its holdings in Royal Caribbean Cruises by 488.2% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,788 shares of the company’s stock valued at $185,000 after buying an additional 1,484 shares during the period. Wright Investors Service Inc. purchased a new stake in Royal Caribbean Cruises in the 2nd quarter valued at about $204,000. Finally, AdvisorNet Financial Inc purchased a new stake in Royal Caribbean Cruises in the 2nd quarter valued at about $207,000. Institutional investors and hedge funds own 70.99% of the company’s stock.
Shares of NYSE:RCL opened at $129.30 on Thursday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.18 and a current ratio of 0.20. The stock has a market cap of $27.04 billion, a price-to-earnings ratio of 15.80, a price-to-earnings-growth ratio of 0.92 and a beta of 1.18. Royal Caribbean Cruises Ltd has a 1 year low of $101.20 and a 1 year high of $135.65.
Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings results on Thursday, August 2nd. The company reported $2.27 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.97 by $0.30. The company had revenue of $2.34 billion for the quarter, compared to analyst estimates of $2.34 billion. Royal Caribbean Cruises had a net margin of 19.31% and a return on equity of 16.50%. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.71 earnings per share. analysts anticipate that Royal Caribbean Cruises Ltd will post 8.9 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 11th. Shareholders of record on Friday, September 21st will be paid a dividend of $0.70 per share. The ex-dividend date of this dividend is Thursday, September 20th. This is a positive change from Royal Caribbean Cruises’s previous quarterly dividend of $0.60. This represents a $2.80 dividend on an annualized basis and a yield of 2.17%. Royal Caribbean Cruises’s dividend payout ratio is 37.18%.
Several brokerages recently issued reports on RCL. Stifel Nicolaus boosted their price objective on shares of Royal Caribbean Cruises from $147.00 to $165.00 and gave the company a “buy” rating in a report on Monday. JPMorgan Chase & Co. boosted their price objective on shares of Royal Caribbean Cruises from $150.00 to $151.00 and gave the company an “overweight” rating in a report on Friday, June 15th. Susquehanna Bancshares boosted their price objective on shares of Royal Caribbean Cruises from $142.00 to $146.00 and gave the company a “positive” rating in a report on Friday, June 15th. Zacks Investment Research lowered shares of Royal Caribbean Cruises from a “buy” rating to a “hold” rating in a report on Tuesday, August 14th. Finally, ValuEngine upgraded shares of Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a report on Friday, August 24th. Five equities research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $141.53.
In other Royal Caribbean Cruises news, EVP Harri U. Kulovaara sold 6,600 shares of the business’s stock in a transaction dated Thursday, September 13th. The shares were sold at an average price of $125.55, for a total transaction of $828,630.00. Following the sale, the executive vice president now directly owns 26,165 shares in the company, valued at $3,285,015.75. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 15.26% of the stock is owned by corporate insiders.
Royal Caribbean Cruises Profile
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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