Capital Research & Management Co has recently announced that it has increased stake in Royal Caribbean Group (NYSE:RCL) by 4.48%. After grabbing 29.53 million shares, the institutional investor is now in possession of 1.27 million shares of the Consumer Cyclical Company. The new investment brought the stake of investor firm to 11.53% having worth around $2.5 billion. Moreover, The Vanguard Group, Inc. increased its share by 0.44 million to have a control over 23.94 million shares. And BlackRock Fund Advisors raised its holdings to 0.62 million shares by acquiring 11.16 million shares or 4.36% of the stake.
Royal Caribbean Group (RCL) concluded trading on 12/06/23 at a closing price of $118.17, with 3.99 million shares of worth about $471.13 million changed hands on the day. Half year performance of the stock remained positive as price took a surge of 29.84% during that period and on Wednesday the price saw a gain of about 3.39%. Currently the company’s common shares owned by public are about 255.24M shares, out of which, 234.49M shares are available for trading.
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A deeper look into what the analysts at Wall Street are thinking about the price target of this stock provides us with the following: 22 analysts are covering the RCL stock and their offered price forecasts bring an average price target of $118.73. Over the next 12 months, analysts forecasted that the stock’s price could jump as high as $140.00 and could fall to a lowest price of $79.20. The stock’s current price level is 0.47% above of average price target set by the analysts, while a rise to estimated low would result in loss of -49.2% for the stock. However, touching the estimated high of $140.00 would mean a gain of 15.59% 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 80 times over the past 12 months. They bought 266,963 shares in 32 of the transactions. In 48 selling transactions, insiders dumped 1,231,234 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 Group American Funds Growth Fund of Ame is currently holding 20.39 million shares of worth totaling $1.73 billion. The company recently came selling 46787.0 shares which brought its stake up to 7.96% of the company’s outstanding shares. American Funds Investment Company bought 0.71 million shares, after which its hold over company’s outstanding shares expand to 6.84%, leaving 17.53 million shares with the mutual fund that have a worth of about $1.49 billion. Vanguard Total Stock Market ETF, after buying 6.82 million shares, have now control over 2.66% of the stake in the company. It holds 40760.0 shares of worth $577.65 million.
Royal Caribbean Group (NYSE: RCL) started trading at $115.00, above $0.71 from concluding price of the previous day. However, the stock later moved at a day high price of 119.05, or with a gain of 3.39%. Stock saw a price change of 11.58% in past 5 days and over the past one month there was a price change of 30.66%. Year-to-date (YTD), RCL shares are showing a performance of 139.07% which increased to 98.87% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $47.91 but also hit the highest price of $114.43 during that period. The average intraday trading volume for Royal Caribbean Group shares is 3.19 million. The stock is currently trading 14.03% above its 20-day simple moving average (SMA20), while that difference is up 26.05% for SMA50 and it goes to 35.57% higher than SMA200.
Capital Research & Management Co acquired 29.53 million shares of Royal Caribbean Group having value of about $2.5 billion. Data submitted at the U.S SEC by Capital Research & Management Co revealed that the firm now holds 1.27 million shares in the company valued at close to $149487649.74, or have control over 4.48% stake in the company. Royal Caribbean Group (NYSE: RCL) currently have 255.24M outstanding shares and institutions hold larger chunk of about 78.77% of that. Holding of mutual funds in the company is about 24.36% while other institutional holders and individual stake holders have control over 54.90% and 23.90% of the stake respectively.
The stock has a current market capitalization of $30.28B and its 3Y-monthly beta is at 2.54. PE ratio of stock for trailing 12 months is 36.85, while it has posted earnings per share of $3.21 in the same period. It has Quick Ratio of 0.17 while making debt-to-equity ratio of 4.65. 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 2.71% while standing at 2.83% over the month.
Analysts are in expectations that Royal Caribbean Group (RCL) stock would likely to be making an EPS of $1.09 in the current quarter, while forecast for next quarter EPS is $0.85 and it is $9.07 for next year. For the current quarter EPS, analysts have given the company a lowest target $1.02 which is $1.16 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 -$1.12 in the same quarter a year ago. Stock’s fiscal year EPS is expected to rise by 187.67% while it is estimated to increase by 37.37% in next year.
Analysts at 22 brokerage firms have issued recommendations for the Royal Caribbean Group (RCL)’s stock and average of those rates the stock at a “Strong Buy” and assign it a score of 1.64. Out of those 22 Wall Street analysts, 14 recommended a “Buy” rating, while 4 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 Citigroup on November 21, 2023 offering a Buy rating for the stock and assigned a target price of $127 to it.
