Royal Caribbean Cruises Ltd. [NYSE: RCL] stock went on a downward path that fall over -3.02% on Wednesday, amounting to a one-week price increase of more than 5.58%. The company report on January 12, 2023 that Royal Caribbean Group announces amendment and extension of revolving credit facilities.
Royal Caribbean Group (NYSE: RCL) (the “Company”) today announced that it has successfully amended and extended the majority of its two unsecured revolving credit facilities. The amendment has extended the maturities of $2.3 billion of the $3.0 billion aggregate revolving capacity by one year to April 2025, with the remainder maturing in April 2024.
“The successful extension of our credit facilities is a testament to our strong relationship with key lenders and their confidence in the Royal Caribbean Group,” said Naftali Holtz, chief financial officer. “Our liquidity position remains strong and strengthening driven by our strong booked position, and delivering positive EBITDA cash flow generation,” added Holtz. “This extension, coupled with the repayment of $0.6 billion of debt in the fourth quarter of 2022, is a continuation of our proactive and methodic improvement of the balance sheet as we seek to return to an investment grade profile balance sheet.”.
Over the last 12 months, RCL stock dropped by -26.06%. The one-year Royal Caribbean Cruises Ltd. stock forecast points to a potential upside of 6.05. The average equity rating for RCL stock is currently 2.40, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $15.62 billion, with 255.07 million shares outstanding and 219.97 million shares in the current float. Compared to the average trading volume of 4.63M shares, RCL stock reached a trading volume of 4050161 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Guru’s Opinion on Royal Caribbean Cruises Ltd. [RCL]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for RCL shares is $66.23 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on RCL stock is a recommendation set at 2.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Morgan Stanley have made an estimate for Royal Caribbean Cruises Ltd. shares, keeping their opinion on the stock as Equal-Weight, with their previous recommendation back on January 10, 2023. While these analysts kept the previous recommendation, JP Morgan raised their target price from $106 to $47. The new note on the price target was released on December 06, 2022, representing the official price target for Royal Caribbean Cruises Ltd. stock. Previously, the target price had yet another raise to $56, while Barclays analysts kept a Overweight rating on RCL stock.
The Average True Range (ATR) for Royal Caribbean Cruises Ltd. is set at 2.42, with the Price to Sales ratio for RCL stock in the period of the last 12 months amounting to 2.16. The Price to Book ratio for the last quarter was 4.95, with the Price to Cash per share for the same quarter was set at 6.24.
RCL Stock Performance Analysis:
Royal Caribbean Cruises Ltd. [RCL] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 5.58. With this latest performance, RCL shares gained by 13.83% in over the last four-week period, additionally plugging by 71.12% over the last 6 months – not to mention a drop of -26.06% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for RCL stock in for the last two-week period is set at 66.32, with the RSI for the last a single of trading hit 70.39, and the three-weeks RSI is set at 62.99 for Royal Caribbean Cruises Ltd. [RCL]. The present Moving Average for the last 50 days of trading for this stock 56.22, while it was recorded at 62.30 for the last single week of trading, and 51.95 for the last 200 days.
Insight into Royal Caribbean Cruises Ltd. Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and Royal Caribbean Cruises Ltd. [RCL] shares currently have an operating margin of -248.82 and a Gross Margin at -159.51. Royal Caribbean Cruises Ltd.’s Net Margin is presently recorded at -343.34.
Return on Equity for this stock declined to -75.98, with Return on Assets sitting at -16.26.
Royal Caribbean Cruises Ltd.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.30 and a Current Ratio set at 0.30.
Royal Caribbean Cruises Ltd. [RCL] Insider Position Details
There are presently around $11,469 million, or 73.90% of RCL stock, in the hands of institutional investors. The top three institutional holders of RCL stocks are: CAPITAL INTERNATIONAL INVESTORS with ownership of 29,752,966, which is approximately 0.009% of the company’s market cap and around 0.20% of the total institutional ownership; VANGUARD GROUP INC, holding 23,631,679 shares of the stock with an approximate value of $1.47 billion in RCL stocks shares; and CAPITAL RESEARCH GLOBAL INVESTORS, currently with $1.43 billion in RCL stock with ownership of nearly 45.193% of the company’s market capitalization.
Positions in Royal Caribbean Cruises Ltd. stocks held by institutional investors increased at the end of January and at the time of the January reporting period, where 281 institutional holders increased their position in Royal Caribbean Cruises Ltd. [NYSE:RCL] by around 19,794,870 shares. Additionally, 258 investors decreased positions by around 15,749,721 shares, while 105 investors held positions by with 148,779,685 shares. The mentioned changes placed institutional holdings at 184,324,276 shares, according to the latest SEC report filing. RCL stock had 84 new institutional investments in for a total of 2,869,793 shares, while 69 institutional investors sold positions of 1,642,585 shares during the same period.