Mirae Asset Global Investments Co. Ltd. Purchases 71,478 Shares of Royal Caribbean Cruises Ltd. $RCL

Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL – Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 71,478 shares of the company’s stock, valued at approximately $19,003,000.

A number of other institutional investors have also modified their holdings of the stock. IMG Wealth Management Inc. acquired a new position in shares of Royal Caribbean Cruises in the 1st quarter valued at about $27,000. Lynch Investment Planning LLC acquired a new stake in Royal Caribbean Cruises during the third quarter worth about $27,000. Foresight Capital Management Advisors Inc. acquired a new stake in Royal Caribbean Cruises during the third quarter worth about $27,000. Main Street Group LTD acquired a new stake in Royal Caribbean Cruises during the first quarter worth about $28,000. Finally, Bell Investment Advisors Inc purchased a new position in Royal Caribbean Cruises during the second quarter valued at approximately $29,000. Hedge funds and other institutional investors own 87.53% of the company’s stock.

Royal Caribbean Cruises Price Performance

NYSE:RCL opened at $313.27 on Wednesday. Royal Caribbean Cruises Ltd. has a 52 week low of $222.22 and a 52 week high of $356.39. The company has a quick ratio of 0.19, a current ratio of 0.22 and a debt-to-equity ratio of 1.69. The stock has a market capitalization of $83.79 billion, a PE ratio of 18.55, a price-to-earnings-growth ratio of 1.12 and a beta of 1.88. The stock’s 50-day moving average price is $272.91 and its 200-day moving average price is $287.08.

Royal Caribbean Cruises (NYSE:RCL – Get Free Report) last released its quarterly earnings results on Tuesday, October 27th. The company reported $6.57 earnings per share for the quarter, topping analysts’ consensus estimates of $6.38 by $0.19. The company had revenue of $5.59 billion during the quarter, compared to analysts’ expectations of $5.61 billion. Royal Caribbean Cruises had a return on equity of 43.40% and a net margin of 23.78%. Royal Caribbean Cruises’s quarterly revenue was up 8.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.75 EPS. As a group, equities analysts expect that Royal Caribbean Cruises Ltd. will post 17.94 EPS for the current fiscal year.

Royal Caribbean Cruises Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 8th. Stockholders of record on Thursday, September 17th were given a $1.50 dividend. The ex-dividend date was Thursday, September 17th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.9%. Royal Caribbean Cruises’s payout ratio is 35.52%.

Analysts Set New Price Targets

A number of research analysts have issued reports on RCL shares. Weiss Ratings downgraded Royal Caribbean Cruises from a “buy (b-)” rating to a “hold (c)” rating in a report on Wednesday, October 28th. Barclays raised their price objective on shares of Royal Caribbean Cruises from $337.00 to $350.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 28th. Northcoast Research dropped their price objective on shares of Royal Caribbean Cruises from $368.00 to $335.00 and set a “buy” rating on the stock in a research note on Thursday, September 24th. Freedom Broker raised shares of Royal Caribbean Cruises from a “hold” rating to a “buy” rating and lifted their target price for the company from $351.00 to $379.00 in a report on Wednesday, October 28th. Finally, UBS Group reiterated a “buy” rating on shares of Royal Caribbean Cruises in a research note on Wednesday, September 23rd. Twenty-one investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, Royal Caribbean Cruises currently has a consensus rating of “Moderate Buy” and an average price target of $355.62.

View Our Latest Stock Report on RCL

Insider Activity at Royal Caribbean Cruises

In other news, Director Maritza Montiel sold 400 shares of the company’s stock in a transaction that occurred on Friday, October 30th. The stock was sold at an average price of $307.21, for a total transaction of $122,884.00. Following the completion of the transaction, the director directly owned 13,202 shares of the company’s stock, valued at $4,055,786.42. This represents a 2.94% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 6.44% of the stock is owned by company insiders.

Royal Caribbean Cruises Company Profile

(Free Report)

Royal Caribbean Cruises Ltd., doing business as Royal Caribbean Group (NYSE: RCL), is a global cruise company that operates vacation cruises and related travel experiences. Its fleet visits destinations across the Caribbean, Europe, Alaska, Asia, Australia, and other regions, with itineraries that typically include onboard entertainment, dining, accommodations, recreational activities, and shore excursions.

The company’s principal brands include Royal Caribbean International, Celebrity Cruises, and Silversea Cruises.

Further Reading

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

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