Capital Research & Management Co has recently announced that it has increased stake in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 3.63%. After grabbing 29.67 million shares, the institutional investor is now in possession of 1.04 million shares of the Consumer Cyclical Company. The new investment brought the stake of investor firm to 11.58% having worth around $3.24 billion. Moreover, The Vanguard Group, Inc. increased its share by 0.25 million to have a control over 23.5 million shares. And BlackRock Fund Advisors raised its holdings to 0.36 million shares by acquiring 10.53 million shares or 4.11% of the stake.
Royal Caribbean Cruises Ltd. (RCL) concluded trading on 09/13/23 at a closing price of $97.35, with 3.31 million shares of worth about $322.2 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 50.77% during that period and on Wednesday the price saw a loss of about -1.67%. Currently the company’s common shares owned by public are about 255.81M shares, out of which, 222.46M shares are available for trading.
A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 19 analysts are covering the RCL stock and their offered price forecasts bring an average price target of $119.67. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $139.00 and could fall to a lowest price of $83.00. The stock’s current price level is 19.37% above of average price target set by the analysts, while a rise to estimated low would result in loss of -17.29% for the stock. However, touching the estimated high of $139.00 would mean a gain of 29.96% for the stock.
According to filings with the U.S. Securities and Exchange Commission (SEC), insiders took part in trade of the company’s stock for 82 times over the past 12 months. They bought 265,963 shares in 31 of the transactions. In 51 selling transactions, insiders dumped 2,536,707 shares.
American Funds Growth Fund of Ame, American Funds Investment Company, and Vanguard Total Stock Market ETF are the top 3 mutual funds which are holding stakes in Royal Caribbean Cruises Ltd. American Funds Growth Fund of Ame is currently holding 20.44 million shares of worth totaling $2.23 billion. The company recently came buying 0.47 million shares which brought its stake up to 7.98% of the company’s outstanding shares. American Funds Investment Company bought 0.43 million shares, after which its hold over company’s outstanding shares expand to 6.56%, leaving 16.82 million shares with the mutual fund that have a worth of about $1.83 billion. Vanguard Total Stock Market ETF, after selling 6.76 million shares, have now control over 2.64% of the stake in the company. It holds 7522.0 shares of worth $737.61 million.
Royal Caribbean Cruises Ltd. (NYSE: RCL) started trading at $97.77, below -$1.23 from concluding price of the previous day. However, the stock later moved at a day high price of 98.66, or with a loss of -1.67%. Stock saw a price change of -1.53% in past 5 days and over the past one month there was a price change of -6.17%. Year-to-date (YTD), RCL shares are showing a performance of 96.95% which increased to 102.64% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $36.92 but also hit the highest price of $112.95 during that period. The average intraday trading volume for Royal Caribbean Cruises Ltd. shares is 3.16 million. The stock is currently trading -2.00% below its 20-day simple moving average (SMA20), while that difference is down -4.19% for SMA50 and it goes to 25.92% higher than SMA200.
Capital Research & Management Co acquired 29.67 million shares of Royal Caribbean Cruises Ltd. having value of about $3.24 billion. Data submitted at the U.S SEC by Capital Research & Management Co revealed that the firm now holds 1.04 million shares in the company valued at close to $101262496.5, or have control over 3.63% stake in the company. Royal Caribbean Cruises Ltd. (NYSE: RCL) currently have 255.81M outstanding shares and institutions hold larger chunk of about 73.90% of that. Holding of mutual funds in the company is about 24.18% while other institutional holders and individual stake holders have control over 53.35% and 23.92% of the stake respectively.
The stock has a current market capitalization of $24.90B and its 3Y-monthly beta is at 2.48. It has posted earnings per share of -$0.39 in the same period. It has Quick Ratio of 0.20 while making debt-to-equity ratio of 6.06. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for RCL, volatility over the week remained 2.85% while standing at 2.91% over the month.
Analysts are in expectations that Royal Caribbean Cruises Ltd. (RCL) stock would likely to be making an EPS of $3.5 in the current quarter, while forecast for next quarter EPS is $1.13 and it is $8.48 for next year. For the current quarter EPS, analysts have given the company a lowest target $3.39 which is $3.82 at the higher side of the target for the same. When we compare those targets with actual EPS, we find that company posted an EPS of $0.26 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 59.50% while it is estimated to increase by 36.70% in next year.
Analysts at 19 brokerage firms have issued recommendations for the Royal Caribbean Cruises Ltd. (RCL)’s stock and average of those rates the stock at a “Moderate Buy” and assign it a score of 2.00. Out of those 19 Wall Street analysts, 10 recommended a “Buy” rating, while 7 were in favor recommending the stock as a “Hold” and 0 analyst recommended the stock as “Sell”.
Digging deeper we find that several firms have released their research notes about the support levels of the stock. Most recent of them is a note released by Argus on May 16, 2023 offering a Buy rating for the stock and assigned a target price of $88 to it.