Equities research group Barclays Capital is lowering their target price for Royal Caribbean from $55.00 to $53.00 ahead of Royal Caribbean's quarterly financial report that is due on Thursday. Barclay analysts currently have an “overweight” rating on the stock.
Another group, Credit Suisse, upgraded Royal Caribbean shares from "neutral" to "outperform" in a note to investors back on April 6th. They now have a $55.00 price target on the stock, up previously from $44.70
UBS AG analysts had already cut their price target on Royal Caribbean shares from $45 to 42 on March 23rd.
None of these opinions mattered to investors yesterday as Royal Caribbean stock traded up 1.56% during mid-day trading on Tuesday. Royal Caribbean last announced its quarterly results on January 27th when it reported a $0.20 earnings per share (EPS) for the previous quarter, beating the Thomson Reuters consensus estimate of $0.13 EPS by $0.07. During the same quarter in the prior year, the company posted $0.02 earnings per share. The company’s quarterly revenue was up 10.5% on a year-over-year basis. On average, analysts predict that Royal Caribbean will post $0.57 EPS next quarter.
