Royal Caribbean Cruises Ltd. (RCL) to Issue Quarterly Dividend of $0.48
Royal Caribbean Cruises Ltd. (NYSE:RCL) declared a quarterly dividend on Monday, September 19th. Investors of record on Thursday, September 29th will be paid a dividend of 0.48 per share on Thursday, October 13th. This represents a $1.92 dividend on an annualized basis and a yield of 2.93%. This is an increase from Royal Caribbean Cruises’s previous quarterly dividend of $0.38.
RCL has been the subject of several research analyst reports. Argus downgraded shares of Royal Caribbean Cruises from a “buy” rating to a “hold” rating in a research note on Wednesday, September 7th. Credit Suisse Group AG reaffirmed a “buy” rating on shares of Royal Caribbean Cruises in a research note on Tuesday, May 24th. Stifel Nicolaus decreased their price target on shares of Royal Caribbean Cruises from $94.00 to $93.00 and set a “buy” rating for the company in a research note on Wednesday, August 3rd. Zacks Investment Research raised shares of Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a research note on Wednesday, August 17th. Finally, Sterne Agee CRT initiated coverage on shares of Royal Caribbean Cruises in a research note on Tuesday, June 7th. They issued a “neutral” rating and a $83.00 price target for the company. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eighteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $94.13.
In other Royal Caribbean Cruises news, CEO Lisa Lutoff-Perlo sold 6,790 shares of the firm’s stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $74.46, for a total transaction of $505,583.40. Following the completion of the sale, the chief executive officer now directly owns 34,450 shares in the company, valued at approximately $2,565,147. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Richard D. Fain acquired 29,190 shares of Royal Caribbean Cruises stock in a transaction on Wednesday, August 3rd. The shares were purchased at an average price of $68.52 per share, with a total value of $2,000,098.80. Following the completion of the purchase, the chief executive officer now owns 1,068,881 shares in the company, valued at approximately $73,239,726.12. The disclosure for this purchase can be found here. 16.80% of the stock is currently owned by corporate insiders.
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A number of hedge funds have recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC purchased a new stake in Royal Caribbean Cruises during the second quarter worth $261,000. Pacer Advisors Inc. raised its stake in Royal Caribbean Cruises by 7.5% in the second quarter. Pacer Advisors Inc. now owns 3,077 shares of the company’s stock worth $207,000 after buying an additional 216 shares in the last quarter. Ameritas Investment Partners Inc. raised its stake in Royal Caribbean Cruises by 6.1% in the second quarter. Ameritas Investment Partners Inc. now owns 3,319 shares of the company’s stock worth $223,000 after buying an additional 190 shares in the last quarter. Bank of Nova Scotia raised its stake in Royal Caribbean Cruises by 6.2% in the second quarter. Bank of Nova Scotia now owns 3,406 shares of the company’s stock worth $229,000 after buying an additional 200 shares in the last quarter. Finally, Veritable L.P. purchased a new stake in Royal Caribbean Cruises during the second quarter worth $237,000. Institutional investors and hedge funds own 75.28% of the company’s stock.
Royal Caribbean Cruises (NYSE:RCL) traded down 1.27% during mid-day trading on Monday, hitting $65.48. 2,292,828 shares of the stock traded hands. The stock has a market cap of $14.10 billion, a price-to-earnings ratio of 18.69 and a beta of 1.73. The company’s 50 day moving average price is $70.45 and its 200-day moving average price is $74.02. Royal Caribbean Cruises has a 1-year low of $64.21 and a 1-year high of $103.40.
Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $1.09 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.07. The company earned $2.11 billion during the quarter, compared to analyst estimates of $2.17 billion. Royal Caribbean Cruises had a net margin of 9.05% and a return on equity of 14.76%. Royal Caribbean Cruises’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same period last year, the business earned $0.84 EPS. Analysts predict that Royal Caribbean Cruises will post $6.08 earnings per share for the current year.
Royal Caribbean Cruises Company Profile
Royal Caribbean Cruises Ltd. is a cruise company. The Company owns various brands, such as Royal Caribbean International, Celebrity Cruises, Pullmantur, Azamara Club Cruises, CDF Croisieres de France and joint venture interest in TUI Cruises. It operates approximately 23 ships with an aggregate capacity of approximately 68,600 berths under its Royal Caribbean International brand, offering cruise itineraries that range from 2 to 24 nights.
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