Royal Caribbean Group [NYSE: RCL] surged by $2.37 during the normal trading session on while it closed the day at $132.11. The company report on March 7, 2024 at 4:30 PM that Royal Caribbean Group announces completion of $1.25 billion offering of senior unsecured notes to refinance its senior notes due 2027.
Royal Caribbean Cruises Ltd. (NYSE: RCL) (the “Company”) today announced that it has completed its private offering of $1.25 billion aggregate principal amount of 6.250% Senior Notes due 2032 (the “Notes”). The Notes will mature on March 15, 2032, unless earlier redeemed or repurchased.
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The Company intends to use the proceeds from the sale of the Notes, together with cash on hand and/or borrowings under its revolving credit facilities, to redeem all of the outstanding 11.625% Senior Notes due 2027 (including to pay fees and expenses in connection with such redemption) on March 8, 2024.
Royal Caribbean Group stock has also gained 4.02% of its value over the past 7 days. However, RCL stock has inclined by 9.72% in the 3 months of the year. Over the past six months meanwhile, it has gained 33.44% and gained 2.02% year-on date.
The market cap for RCL stock reached $33.91 billion, with 256.42 million shares outstanding and 235.62 million shares in the current float. Compared to the average trading volume of 2.69M shares, RCL reached a trading volume of 3595093 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Royal Caribbean Group [RCL]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for RCL shares is $146.93 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 1.61. 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.
Goldman have made an estimate for Royal Caribbean Group shares, keeping their opinion on the stock as Buy, with their previous recommendation back on Mar-14-24. While these analysts kept the previous recommendation, Citigroup raised their target price to Buy. The new note on the price target was released on November 21, 2023, representing the official price target for Royal Caribbean Group stock. Previously, the target price had yet another raise to $115, while HSBC Securities analysts kept a Buy rating on RCL stock. On September 19, 2023, analysts increased their price target for RCL shares from 115 to 137.
The Average True Range (ATR) for Royal Caribbean Group is set at 3.55, with the Price to Sales ratio for RCL stock in the period of the last 12 months amounting to 2.44. The Price to Book ratio for the last quarter was 7.17, with the Price to Cash per share for the same quarter was set at 1.94. Price to Free Cash Flow for RCL in the course of the last twelve months was 58.46 with Quick ratio for the last quarter at 0.16.
RCL stock trade performance evaluation
Royal Caribbean Group [RCL] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 4.02. With this latest performance, RCL shares gained by 12.90% in over the last four-week period, additionally plugging by 33.44% over the last 6 months – not to mention a rise of 105.75% 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 67.77, with the RSI for the last a single of trading hit 74.20, and the three-weeks RSI is set at 63.91 for Royal Caribbean Group [RCL]. The present Moving Average for the last 50 days of trading for this stock 122.86, while it was recorded at 128.29 for the last single week of trading, and 105.54 for the last 200 days.
Royal Caribbean Group [RCL]: An insightful look at the core fundamentals
Royal Caribbean Group’s liquidity data is similarly interesting compelling, with a Quick Ratio of 0.16 and a Current Ratio set at 0.19.
Earnings per share (EPS) analysis for Royal Caribbean Group [RCL] stock
With the latest financial reports released by the company, Royal Caribbean Group posted -0.23/share EPS, while the average EPS was predicted by analysts to be reported at -0.7/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 67.10%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for RCL. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Royal Caribbean Group go to 27.50%.
Royal Caribbean Group [RCL]: Institutional Ownership
The top three institutional holders of RCL stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in RCL stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in RCL stock with ownership which is approximately 5.8325%.
