Texas Permanent School Fund Grows Position in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Posted by Defense World Staff on May 13th, 2023

Texas Permanent School Fund lifted its stake in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL – Get Rating) by 0.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 31,078 shares of the company’s stock after acquiring an additional 158 shares during the period. Texas Permanent School Fund’s holdings in Royal Caribbean Cruises were worth $1,536,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Pitti Group Wealth Management LLC acquired a new stake in shares of Royal Caribbean Cruises during the fourth quarter valued at $285,000. USS Investment Management Ltd boosted its position in Royal Caribbean Cruises by 26.5% during the third quarter. USS Investment Management Ltd now owns 94,553 shares of the company’s stock worth $3,584,000 after acquiring an additional 19,803 shares during the last quarter. Moors & Cabot Inc. boosted its position in Royal Caribbean Cruises by 5.5% during the third quarter. Moors & Cabot Inc. now owns 9,867 shares of the company’s stock worth $374,000 after acquiring an additional 515 shares during the last quarter. MML Investors Services LLC boosted its position in Royal Caribbean Cruises by 4.5% during the third quarter. MML Investors Services LLC now owns 25,831 shares of the company’s stock worth $979,000 after acquiring an additional 1,106 shares during the last quarter. Finally, New York State Common Retirement Fund boosted its position in Royal Caribbean Cruises by 14.0% during the fourth quarter. New York State Common Retirement Fund now owns 406,956 shares of the company’s stock worth $20,116,000 after acquiring an additional 50,055 shares during the last quarter. Institutional investors and hedge funds own 74.27% of the company’s stock.

Wall Street Analyst Weigh In

RCL has been the topic of a number of analyst reports. Barclays raised their price target on Royal Caribbean Cruises from $88.00 to $100.00 in a research note on Friday, May 5th. Morgan Stanley raised their price target on Royal Caribbean Cruises from $50.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Friday, February 10th. Stifel Nicolaus lifted their price target on shares of Royal Caribbean Cruises from $86.00 to $90.00 in a report on Wednesday, February 8th. Susquehanna lifted their price target on shares of Royal Caribbean Cruises from $80.00 to $85.00 in a report on Friday, May 5th. Finally, UBS Group lifted their price target on shares of Royal Caribbean Cruises from $82.00 to $91.00 and gave the company a “buy” rating in a report on Thursday, February 23rd. Five analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Royal Caribbean Cruises currently has a consensus rating of “Moderate Buy” and an average target price of $82.77.

Royal Caribbean Cruises Stock Performance

Shares of RCL stock opened at $75.11 on Friday. Royal Caribbean Cruises Ltd. has a 12 month low of $31.09 and a 12 month high of $78.38. The company has a debt-to-equity ratio of 6.41, a current ratio of 0.26 and a quick ratio of 0.23. The firm has a market capitalization of $19.21 billion, a P/E ratio of -18.45 and a beta of 2.43. The company’s fifty day moving average price is $65.62 and its two-hundred day moving average price is $62.20.

Royal Caribbean Cruises (NYSE:RCL – Get Rating) last announced its earnings results on Thursday, May 4th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.71) by $0.48. Royal Caribbean Cruises had a negative return on equity of 25.86% and a negative net margin of 9.72%. The company had revenue of $2.89 billion for the quarter, compared to analyst estimates of $2.82 billion. During the same period in the prior year, the company posted ($4.57) EPS. Royal Caribbean Cruises’s quarterly revenue was up 172.4% on a year-over-year basis. On average, research analysts anticipate that Royal Caribbean Cruises Ltd. will post 4.76 earnings per share for the current fiscal year.

About Royal Caribbean Cruises

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Royal Caribbean Group is a cruise company, which engages in the ownership and operation of the following global cruise brands: Royal Caribbean International, Celebrity Cruises, and Silversea Cruises. The firm also holds interest in TUI Cruises GmbH, which operates the German brands TUI Cruises and Hapag-Lloyd Cruises.