Pinnacle Associates Ltd. Lowers Holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Pinnacle Associates Ltd. lessened its stake in Royal Caribbean Cruises Ltd. (NYSE:RCLGet Rating) by 3.6% in the 1st quarter, Holdings Channel.com reports. The firm owned 514,652 shares of the company’s stock after selling 19,372 shares during the quarter. Royal Caribbean Cruises makes up 0.8% of Pinnacle Associates Ltd.’s holdings, making the stock its 27th largest holding. Pinnacle Associates Ltd.’s holdings in Royal Caribbean Cruises were worth $43,118,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of RCL. Massmutual Trust Co. FSB ADV raised its position in shares of Royal Caribbean Cruises by 303.5% in the 4th quarter. Massmutual Trust Co. FSB ADV now owns 347 shares of the company’s stock worth $27,000 after purchasing an additional 261 shares during the last quarter. Capital Advisory Group Advisory Services LLC purchased a new position in Royal Caribbean Cruises in the 1st quarter worth about $29,000. Cassady Schiller Wealth Management LLC purchased a new position in Royal Caribbean Cruises in the 4th quarter worth about $37,000. Allegheny Financial Group LTD purchased a new position in Royal Caribbean Cruises in the 4th quarter worth about $40,000. Finally, Landmark Wealth Management LLC purchased a new position in Royal Caribbean Cruises in the 1st quarter worth about $50,000. Hedge funds and other institutional investors own 73.74% of the company’s stock.

Wall Street Analyst Weigh In

RCL has been the subject of several research reports. StockNews.com raised shares of Royal Caribbean Cruises to a “sell” rating in a research report on Monday. Morgan Stanley cut their price objective on Royal Caribbean Cruises from $59.00 to $54.00 and set an “underweight” rating for the company in a research note on Wednesday, June 8th. Truist Financial dropped their price target on Royal Caribbean Cruises from $70.00 to $65.00 and set a “hold” rating for the company in a research note on Thursday, May 19th. Susquehanna started coverage on Royal Caribbean Cruises in a report on Thursday, June 9th. They set a “positive” rating and a $70.00 price objective on the stock. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on Royal Caribbean Cruises from $76.00 to $50.00 and set a “hold” rating on the stock in a report on Tuesday, June 21st. Two analysts have rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, Royal Caribbean Cruises presently has an average rating of “Hold” and an average target price of $76.10.

Royal Caribbean Cruises Stock Performance

Shares of NYSE:RCL opened at $34.91 on Thursday. The business’s 50 day moving average price is $42.40 and its 200-day moving average price is $65.37. The firm has a market capitalization of $8.90 billion, a PE ratio of -1.68 and a beta of 2.52. The company has a debt-to-equity ratio of 5.00, a current ratio of 0.40 and a quick ratio of 0.37. Royal Caribbean Cruises Ltd. has a 1 year low of $31.09 and a 1 year high of $98.27.

Royal Caribbean Cruises (NYSE:RCLGet Rating) last posted its earnings results on Thursday, May 5th. The company reported ($4.57) EPS for the quarter, beating analysts’ consensus estimates of ($4.68) by $0.11. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.15 billion. Royal Caribbean Cruises had a negative return on equity of 83.99% and a negative net margin of 207.74%. The company’s revenue for the quarter was up 2421.1% on a year-over-year basis. During the same quarter in the previous year, the business earned ($4.44) earnings per share. As a group, equities research analysts expect that Royal Caribbean Cruises Ltd. will post -6.3 earnings per share for the current fiscal year.

Royal Caribbean Cruises Profile

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

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