Royal Caribbean Cruises (NYSE:RCL) Stock Price Down 5.5% Following Analyst Downgrade

Royal Caribbean Cruises Ltd. (NYSE:RCLGet Rating)’s stock price traded down 5.5% during trading on Wednesday after Truist Financial lowered their price target on the stock from $65.00 to $58.00. Truist Financial currently has a hold rating on the stock. Royal Caribbean Cruises traded as low as $45.92 and last traded at $46.75. 112,614 shares changed hands during trading, a decline of 98% from the average session volume of 6,072,325 shares. The stock had previously closed at $49.49.

Several other research analysts have also issued reports on the stock. Susquehanna Bancshares decreased their price target on shares of Royal Caribbean Cruises from $70.00 to $50.00 in a research report on Friday, July 29th. Wells Fargo & Company decreased their price target on shares of Royal Caribbean Cruises from $81.00 to $58.00 in a research report on Friday, July 29th. Susquehanna decreased their price target on shares of Royal Caribbean Cruises from $70.00 to $50.00 in a research report on Friday, July 29th. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Royal Caribbean Cruises from $50.00 to $48.00 in a research report on Friday, July 29th. Finally, Stifel Nicolaus lifted their price target on shares of Royal Caribbean Cruises from $60.00 to $70.00 and gave the stock a “buy” rating in a research report on Monday. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $62.00.

Hedge Funds Weigh In On Royal Caribbean Cruises

Several institutional investors and hedge funds have recently modified their holdings of the stock. Second Half Financial Partners LLC purchased a new position in shares of Royal Caribbean Cruises during the 2nd quarter valued at $240,000. WCG Wealth Advisors LLC purchased a new position in shares of Royal Caribbean Cruises during the 2nd quarter valued at $260,000. Captrust Financial Advisors grew its holdings in shares of Royal Caribbean Cruises by 4.1% during the 2nd quarter. Captrust Financial Advisors now owns 7,753 shares of the company’s stock valued at $271,000 after acquiring an additional 308 shares in the last quarter. Kingsview Wealth Management LLC acquired a new stake in shares of Royal Caribbean Cruises in the 2nd quarter valued at $238,000. Finally, Thrivent Financial for Lutherans lifted its stake in shares of Royal Caribbean Cruises by 96.6% in the 2nd quarter. Thrivent Financial for Lutherans now owns 19,382 shares of the company’s stock valued at $677,000 after purchasing an additional 9,522 shares during the last quarter. 67.41% of the stock is currently owned by hedge funds and other institutional investors.

Royal Caribbean Cruises Stock Performance

The stock’s 50-day simple moving average is $40.72 and its two-hundred day simple moving average is $54.74. The company has a debt-to-equity ratio of 5.22, a quick ratio of 0.28 and a current ratio of 0.30. The stock has a market cap of $11.93 billion, a price-to-earnings ratio of -2.69 and a beta of 2.41.

Royal Caribbean Cruises (NYSE:RCLGet Rating) last posted its earnings results on Thursday, July 28th. The company reported ($2.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.23) by $0.15. The business had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.10 billion. Royal Caribbean Cruises had a negative net margin of 95.46% and a negative return on equity of 87.89%. The firm’s revenue for the quarter was up 4190.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($5.06) earnings per share. Analysts forecast that Royal Caribbean Cruises Ltd. will post -6.91 earnings per share for the current year.

Royal Caribbean Cruises Company Profile

(Get Rating)

Royal Caribbean Cruises Ltd. operates as a cruise company worldwide. The company operates cruises under the Royal Caribbean International, Celebrity Cruises, Azamara, and Silversea Cruises brands, which comprise a range of itineraries that call on approximately 1,000 destinations. As of February 25, 2022, it operated 61 ships.

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