Market News

Royal Caribbean Extends Sailing Suspension Until November

Royal Caribbean Cruises has extended the suspension of cruise sailings until Nov. 30, excluding sailings from Hong Kong. The cruise operator has taken the decision due to the COVID-19 crisis, which has dented the demand for voyages.

Royal Caribbean (RCL) said that its cruise brand Celebrity Cruises will suspend the full 2020/21 winter program in Australia and Asia. Its Azamara cruises will also cancel their 2020/21 winter sailings throughout Australia & New Zealand, South Africa and South America.

On Aug. 10, the company reported 2Q loss of $6.13 per share, which was larger than analysts’ loss expectations of $4.82. The 2Q revenues of $175.6 million, however, surpassed the Street consensus of $43.5 million. (See RCL stock analysis on TipRanks)

On Sept. 25, Barclays analyst Felicia Hendrix upgraded the stock to Buy from Hold, saying that risk/rewards in the cruise space are very attractive in the U.S. leisure sector. She maintained a price target of $68 (2.8% upside potential).

Currently, the Street has a cautiously optimistic outlook on the stock. The Moderate Buy analyst consensus is based on 7 Buys, 5 Holds and 2 Sells. The average price target of $58.08 implies downside potential of about 12.2% to current levels. Shares have declined by about 50.4% year-to-date.

Related News:
Carnival To Sell Two Princess Cruises Ships; Street Stays Firmly Sidelined
Boeing Drops 7% On Trimmed Aircraft Demand Outlook
Accenture To Buy Myrtle To Improve Supply Chain Capabilities

Tired of arriving late to the Big Returns Party?​
Most investors don’t have major gainers like TSLA or NVDA on their radar from the start.
The profusion of opinions on social media and financial blogs makes it impossible to distinguish between real growth potential and pure hype.
​​For the past decade, we have developed and perfected technology designed to help private investors, just like you, find the best opportunities, with the greatest upside potential, in any financial climate.​
Learn More

Latest News Feed