Wedbush Reaffirms Outperform Rating for Rockcliff Metal (RCL)
Wedbush reaffirmed their outperform rating on shares of Rockcliff Metal (NYSE:RCL) in a research note published on Wednesday, The Fly reports. They currently have a $139.00 target price on the stock, up from their previous target price of $129.00. Wedbush also issued estimates for Rockcliff Metal’s Q4 2017 earnings at $1.21 EPS, FY2017 earnings at $7.41 EPS and FY2018 earnings at $8.68 EPS.
Several other analysts also recently weighed in on RCL. J P Morgan Chase & Co raised shares of Rockcliff Metal from a neutral rating to an overweight rating and boosted their target price for the stock from $111.00 to $130.00 in a research report on Thursday, July 20th. Bank of America Corporation started coverage on shares of Rockcliff Metal in a report on Monday, July 24th. They issued a neutral rating and a $123.00 price objective on the stock. Goldman Sachs Group, Inc. (The) started coverage on shares of Rockcliff Metal in a report on Monday, July 24th. They issued a neutral rating on the stock. Zacks Investment Research raised shares of Rockcliff Metal from a hold rating to a buy rating and set a $128.00 price objective on the stock in a report on Thursday, July 27th. Finally, BidaskClub downgraded shares of Rockcliff Metal from a strong-buy rating to a buy rating in a report on Monday, July 31st. Two research analysts have rated the stock with a sell rating, three have given a hold rating, fifteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of C$126.33.
Rockcliff Metal (RCL) traded down C$2.45 during midday trading on Wednesday, hitting C$124.22. 2,430,000 shares of the company traded hands, compared to its average volume of 1,710,000. Rockcliff Metal has a 1 year low of C$78.77 and a 1 year high of C$133.75.
Rockcliff Metal (NYSE:RCL) last released its earnings results on Tuesday, November 7th. The company reported C$3.49 earnings per share for the quarter, topping the consensus estimate of C$3.43 by C$0.06. The company had revenue of C$2.57 billion for the quarter, compared to the consensus estimate of C$2.57 billion. Rockcliff Metal had a net margin of 16.83% and a return on equity of 15.64%. Rockcliff Metal’s revenue was up .2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.20 EPS.
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In other Rockcliff Metal news, CEO Richard D. Fain sold 20,000 shares of the stock in a transaction dated Wednesday, September 13th. The shares were sold at an average price of C$121.29, for a total transaction of C$2,425,800.00. Following the completion of the transaction, the chief executive officer now owns 927,741 shares of the company’s stock, valued at C$112,525,705.89. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Harri U. Kulovaara sold 7,580 shares of the stock in a transaction dated Monday, August 14th. The stock was sold at an average price of C$119.61, for a total transaction of C$906,643.80. Following the transaction, the executive vice president now directly owns 23,493 shares of the company’s stock, valued at approximately C$2,809,997.73. The disclosure for this sale can be found here. Insiders sold 67,580 shares of company stock valued at $8,225,444 in the last three months.
A number of hedge funds have recently made changes to their positions in the business. Eqis Capital Management Inc. boosted its stake in Rockcliff Metal by 0.3% during the second quarter. Eqis Capital Management Inc. now owns 2,370 shares of the company’s stock worth $259,000 after buying an additional 8 shares during the period. Morse Asset Management Inc boosted its stake in Rockcliff Metal by 0.7% during the second quarter. Morse Asset Management Inc now owns 3,425 shares of the company’s stock worth $374,000 after buying an additional 25 shares during the period. Neuberger Berman Group LLC boosted its stake in Rockcliff Metal by 1.2% during the second quarter. Neuberger Berman Group LLC now owns 2,458 shares of the company’s stock worth $268,000 after buying an additional 28 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in Rockcliff Metal by 0.3% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,463 shares of the company’s stock worth $1,361,000 after buying an additional 35 shares during the period. Finally, CIBC Asset Management Inc boosted its stake in shares of Rockcliff Metal by 0.3% in the second quarter. CIBC Asset Management Inc now owns 17,863 shares of the company’s stock valued at $1,951,000 after purchasing an additional 58 shares during the period.
About Rockcliff Metal
Royal Caribbean Cruises Ltd. is a cruise company. The Company owns and operates three global cruise brands: Royal Caribbean International, Celebrity Cruises and Azamara Club Cruises (Global Brands). The Company also own joint venture interest in the German brand TUI Cruises, interest in the Spanish brand Pullmantur and interest in the Chinese brand SkySea Cruises (collectively, Partner Brands).
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