First Hawaiian Bank Has $659,000 Stake in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Posted by on Mar 24th, 2023

First Hawaiian Bank boosted its stake in Royal Caribbean Cruises Ltd. (NYSE:RCL – Get Rating) by 26.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,342 shares of the company’s stock after purchasing an additional 2,817 shares during the period. First Hawaiian Bank’s holdings in Royal Caribbean Cruises were worth $659,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of RCL. Panagora Asset Management Inc. increased its holdings in Royal Caribbean Cruises by 21.8% in the first quarter. Panagora Asset Management Inc. now owns 11,553 shares of the company’s stock valued at $968,000 after purchasing an additional 2,068 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in Royal Caribbean Cruises by 6.6% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 30,004 shares of the company’s stock valued at $2,514,000 after purchasing an additional 1,861 shares during the period. Yousif Capital Management LLC increased its holdings in Royal Caribbean Cruises by 2.3% in the first quarter. Yousif Capital Management LLC now owns 35,806 shares of the company’s stock valued at $3,000,000 after purchasing an additional 818 shares during the period. Aviva PLC increased its holdings in Royal Caribbean Cruises by 65.5% in the first quarter. Aviva PLC now owns 54,096 shares of the company’s stock valued at $4,532,000 after purchasing an additional 21,415 shares during the period. Finally, Prudential PLC bought a new stake in Royal Caribbean Cruises during the first quarter valued at $300,000. 74.27% of the stock is currently owned by institutional investors and hedge funds.

Royal Caribbean Cruises Price Performance

Shares of NYSE RCL opened at $61.75 on Friday. Royal Caribbean Cruises Ltd. has a fifty-two week low of $31.09 and a fifty-two week high of $87.68. The stock has a market cap of $15.77 billion, a price-to-earnings ratio of -7.30 and a beta of 2.46. The company has a debt-to-equity ratio of 7.43, a quick ratio of 0.35 and a current ratio of 0.37. The firm’s 50-day simple moving average is $68.04 and its 200 day simple moving average is $57.16.

Royal Caribbean Cruises (NYSE:RCL – Get Rating) last announced its quarterly earnings results on Tuesday, February 7th. The company reported ($1.12) earnings per share for the quarter, beating the consensus estimate of ($1.37) by $0.25. Royal Caribbean Cruises had a negative net margin of 24.39% and a negative return on equity of 56.86%. The business had revenue of $2.60 billion for the quarter, compared to analysts’ expectations of $2.61 billion. During the same quarter last year, the firm earned ($4.78) EPS. The firm’s revenue for the quarter was up 165.0% compared to the same quarter last year. As a group, research analysts anticipate that Royal Caribbean Cruises Ltd. will post 3.3 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have commented on RCL. Deutsche Bank Aktiengesellschaft upped their price target on shares of Royal Caribbean Cruises from $62.00 to $65.00 and gave the company a “hold” rating in a research report on Wednesday, February 8th. Susquehanna upped their price target on shares of Royal Caribbean Cruises from $62.00 to $85.00 and gave the company a “positive” rating in a research report on Wednesday, February 8th. Morgan Stanley upped their price target on shares of Royal Caribbean Cruises from $50.00 to $60.00 and gave the company an “equal weight” rating in a research report on Friday, February 10th. JPMorgan Chase & Co. cut shares of Royal Caribbean Cruises from an “overweight” rating to an “underweight” rating and cut their price target for the company from $106.00 to $47.00 in a research report on Tuesday, December 6th. Finally, UBS Group upped their price target on shares of Royal Caribbean Cruises from $82.00 to $91.00 and gave the company a “buy” rating in a research report on Thursday, February 23rd. Two research analysts have rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Royal Caribbean Cruises currently has an average rating of “Hold” and a consensus target price of $77.00.

About Royal Caribbean Cruises

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Royal Caribbean Group operates a fleet of cruise ships. It also operates as a global cruise company, which controls and operates the following global cruise brands: Royal Caribbean International, Celebrity Cruises, Silversea Cruises, and Hapag-Lloyd Cruises. The firm also holds interest in TUI Cruises, Pullmantur, and SkySea Cruises brands.

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Institutional Ownership by Quarter for Royal Caribbean Cruises (NYSE:RCL)

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