Posted on Jul 4th, 2022
AE Wealth Management LLC boosted its stake in Royal Caribbean Cruises Ltd. (NYSE:RCL – Get Rating) by 35.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 32,947 shares of the company’s stock after acquiring an additional 8,610 shares during the period. AE Wealth Management LLC’s holdings in Royal Caribbean Cruises were worth $2,760,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in RCL. Absolute Investment Advisers LLC bought a new position in shares of Royal Caribbean Cruises during the fourth quarter worth about $1,272,000. Capital International Investors lifted its holdings in Royal Caribbean Cruises by 2.8% in the 4th quarter. Capital International Investors now owns 27,362,504 shares of the company’s stock valued at $2,104,262,000 after acquiring an additional 734,952 shares during the last quarter. Atalanta Sosnoff Capital LLC acquired a new stake in Royal Caribbean Cruises in the 4th quarter valued at about $22,908,000. Scout Investments Inc. lifted its holdings in Royal Caribbean Cruises by 29.7% in the 4th quarter. Scout Investments Inc. now owns 792,879 shares of the company’s stock valued at $60,972,000 after acquiring an additional 181,645 shares during the last quarter. Finally, Mane Global Capital Management LP acquired a new stake in Royal Caribbean Cruises in the 4th quarter valued at about $12,250,000. Hedge funds and other institutional investors own 73.74% of the company’s stock.
Shares of NYSE RCL opened at $35.29 on Monday. Royal Caribbean Cruises Ltd. has a 1-year low of $33.00 and a 1-year high of $98.27. The company has a market cap of $9.00 billion, a PE ratio of -1.70 and a beta of 2.52. The company has a current ratio of 0.40, a quick ratio of 0.37 and a debt-to-equity ratio of 5.00. The company has a 50-day moving average of $55.25 and a two-hundred day moving average of $70.74.
Royal Caribbean Cruises (NYSE:RCL – Get Rating) last announced its earnings results on Thursday, May 5th. The company reported ($4.57) earnings per share for the quarter, topping analysts’ consensus estimates of ($4.68) by $0.11. Royal Caribbean Cruises had a negative net margin of 207.74% and a negative return on equity of 83.99%. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the previous year, the firm posted ($4.44) earnings per share. The company’s revenue was up 2421.1% on a year-over-year basis. As a group, equities research analysts forecast that Royal Caribbean Cruises Ltd. will post -6.3 earnings per share for the current year.
A number of analysts have commented on RCL shares. Wells Fargo & Company initiated coverage on shares of Royal Caribbean Cruises in a research note on Tuesday, March 29th. They set an “overweight” rating and a $93.00 price objective for the company. Truist Financial reduced their price target on shares of Royal Caribbean Cruises from $70.00 to $65.00 and set a “hold” rating for the company in a research report on Thursday, May 19th. Susquehanna began coverage on shares of Royal Caribbean Cruises in a research note on Thursday, June 9th. They set a “positive” rating and a $70.00 price target on the stock. Susquehanna Bancshares began coverage on shares of Royal Caribbean Cruises in a research note on Thursday, June 9th. They set a “positive” rating and a $70.00 price target on the stock. Finally, Morgan Stanley dropped their price target on shares of Royal Caribbean Cruises from $59.00 to $54.00 and set an “underweight” rating on the stock in a research note on Wednesday, June 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $76.10.