Van ECK Associates Corp Reduces Stake in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Posted by on May 19th, 2023

Van ECK Associates Corp reduced its stake in Royal Caribbean Cruises Ltd. (NYSE:RCL – Get Rating) by 22.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,687 shares of the company’s stock after selling 760 shares during the quarter. Van ECK Associates Corp’s holdings in Royal Caribbean Cruises were worth $133,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Accurate Wealth Management LLC purchased a new stake in Royal Caribbean Cruises in the 4th quarter valued at $38,000. First Horizon Advisors Inc. grew its holdings in Royal Caribbean Cruises by 86.2% in the 3rd quarter. First Horizon Advisors Inc. now owns 1,056 shares of the company’s stock valued at $39,000 after buying an additional 489 shares in the last quarter. Cowa LLC purchased a new position in shares of Royal Caribbean Cruises during the 3rd quarter worth $53,000. Zions Bancorporation N.A. grew its holdings in shares of Royal Caribbean Cruises by 63.1% during the 1st quarter. Zions Bancorporation N.A. now owns 742 shares of the company’s stock worth $62,000 after purchasing an additional 287 shares during the period. Finally, Spire Wealth Management grew its holdings in shares of Royal Caribbean Cruises by 83.3% during the 4th quarter. Spire Wealth Management now owns 1,305 shares of the company’s stock worth $65,000 after purchasing an additional 593 shares during the period. 74.27% of the stock is currently owned by hedge funds and other institutional investors.

Royal Caribbean Cruises Stock Up 0.7 %

RCL opened at $80.13 on Friday. The business’s fifty day moving average is $66.11 and its two-hundred day moving average is $62.94. The company has a current ratio of 0.26, a quick ratio of 0.23 and a debt-to-equity ratio of 6.41. Royal Caribbean Cruises Ltd. has a one year low of $31.09 and a one year high of $80.23.

Royal Caribbean Cruises (NYSE:RCL – Get Rating) last posted its earnings results on Thursday, May 4th. The company reported ($0.23) EPS for the quarter, topping analysts’ consensus estimates of ($0.71) by $0.48. The company had revenue of $2.89 billion for the quarter, compared to the consensus estimate of $2.82 billion. Royal Caribbean Cruises had a negative return on equity of 25.86% and a negative net margin of 9.72%. Royal Caribbean Cruises’s quarterly revenue was up 172.4% compared to the same quarter last year. During the same period in the previous year, the business earned ($4.57) earnings per share. As a group, equities analysts forecast that Royal Caribbean Cruises Ltd. will post 4.77 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

RCL has been the subject of a number of research analyst reports. JPMorgan Chase & Co. initiated coverage on Royal Caribbean Cruises in a report on Friday, April 28th. They set an “overweight” rating and a $94.00 price target for the company. Barclays increased their price target on Royal Caribbean Cruises from $88.00 to $100.00 in a report on Friday, May 5th. Argus upgraded Royal Caribbean Cruises from a “hold” rating to a “buy” rating and set a $88.00 price target for the company in a report on Tuesday. William Blair reiterated an “outperform” rating on shares of Royal Caribbean Cruises in a report on Thursday, May 4th. Finally, Morgan Stanley increased their target price 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. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, Royal Caribbean Cruises currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.14.

Royal Caribbean Cruises Profile

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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.

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

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