Mirae Asset Global Investments Co. Ltd. Acquires 71,478 Shares of Royal Caribbean Cruises Ltd. $RCL

Mirae Asset Global Investments Co. Ltd. acquired a new position in Royal Caribbean Cruises Ltd. (NYSE:RCL) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 71,478 shares of the company’s stock, valued at approximately $19,003,000.

A number of other institutional investors have also recently made changes to their positions in the business. BlackRock Inc. purchased a new position in Royal Caribbean Cruises during the 2nd quarter worth $6,549,422,000. Primecap Management Co. CA purchased a new stake in Royal Caribbean Cruises in the second quarter valued at about $669,804,000. Jupiter Topco LLC purchased a new stake in Royal Caribbean Cruises in the second quarter valued at about $597,350,000. Legal & General Group Plc purchased a new stake in Royal Caribbean Cruises in the second quarter valued at about $413,449,000. Finally, Bank of New York Mellon Corp acquired a new stake in Royal Caribbean Cruises in the second quarter worth about $381,271,000. Institutional investors and hedge funds own 87.53% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on RCL. Weiss Ratings lowered Royal Caribbean Cruises from a “buy (b-)” rating to a “hold (c)” rating in a research note on Wednesday, October 28th. The Goldman Sachs Group restated a “buy” rating and set a $358.00 price objective on shares of Royal Caribbean Cruises in a report on Wednesday, October 28th. Wells Fargo & Company increased their price objective on shares of Royal Caribbean Cruises from $358.00 to $361.00 and gave the company an “overweight” rating in a research report on Wednesday, October 28th. TD Cowen lifted their target price on shares of Royal Caribbean Cruises from $337.00 to $340.00 and gave the stock a “buy” rating in a research note on Tuesday, October 20th. Finally, William Blair reissued an “outperform” rating on shares of Royal Caribbean Cruises in a research report on Tuesday, July 28th. Twenty-one analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $355.62.

Royal Caribbean Cruises Price Performance

NYSE RCL opened at $313.27 on Wednesday. The company has a market cap of $83.79 billion, a price-to-earnings ratio of 18.55, a PEG ratio of 1.12 and a beta of 1.88. The company has a debt-to-equity ratio of 1.69, a current ratio of 0.22 and a quick ratio of 0.19. The stock’s fifty day moving average price is $272.91 and its 200 day moving average price is $287.08. Royal Caribbean Cruises Ltd. has a 1 year low of $222.22 and a 1 year high of $356.39.

Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings results on Tuesday, October 27th. The company reported $6.57 EPS for the quarter, topping analysts’ consensus estimates of $6.38 by $0.19. The company had revenue of $5.59 billion during the quarter, compared to analysts’ expectations of $5.61 billion. Royal Caribbean Cruises had a return on equity of 43.40% and a net margin of 23.78%. The firm’s revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $5.75 EPS. As a group, equities research analysts forecast that Royal Caribbean Cruises Ltd. will post 17.94 earnings per share for the current year.

Royal Caribbean Cruises Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 8th. Stockholders of record on Thursday, September 17th were paid a $1.50 dividend. This represents a $6.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date was Thursday, September 17th. Royal Caribbean Cruises’s dividend payout ratio (DPR) is presently 35.52%.

Insider Activity

In related news, Director Maritza Montiel sold 400 shares of Royal Caribbean Cruises stock in a transaction dated Friday, October 30th. The stock was sold at an average price of $307.21, for a total transaction of $122,884.00. Following the completion of the sale, the director owned 13,202 shares of the company’s stock, valued at $4,055,786.42. The trade was a 2.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 6.44% of the stock is currently owned by insiders.

Royal Caribbean Cruises Company Profile

Royal Caribbean Cruises Ltd., doing business as Royal Caribbean Group (NYSE: RCL), is a global cruise company that operates vacation cruises and related travel experiences. Its fleet visits destinations across the Caribbean, Europe, Alaska, Asia, Australia, and other regions, with itineraries that typically include onboard entertainment, dining, accommodations, recreational activities, and shore excursions.

The company’s principal brands include Royal Caribbean International, Celebrity Cruises, and Silversea Cruises.