The stock of Royal Caribbean Group (NYSE:RCL) is now priced at $68.84 and the shares are -1.28 points down or -1.83% lower compared to its previous closing price of $70.12. The stock had 8.039 million contracts set over the past session. RCL shares’ daily volume is compared to its average trading volume at 15.639 million shares. However, it has a float of 176 million and although its performance was 6.84% over the week, it’s one to watch. Analysts have given the RCL stock a yearly average price target of $53.23 per share. It means the stock’s downside potential is -22.68% with the RCL share price recently placing at $68.2 to $71.55. However, some brokerage firms have priced the stock below the average, including one that has called $34.
The shorts are running away from the Royal Caribbean Group stock, with the latest data on short interest released on July 31, 2020, showing that short interest numbers in the RCL shares have declined. Short interest in the stock represents just 11.17% of its float, but the volume has dropped by 0.
In the last trading session, Royal Caribbean Group (NYSE:RCL) raised by $4.41 over the week and gained $21.45 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $135.32. The stock recorded its established 52-week high on 01/17/20.
Since 03/18/20, the stock has traded to a low of $19.25 at 257.61%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 2.65. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Royal Caribbean Group’s two-week RSI is 72.09. This suggests that the stock is oversold at the moment and that RCL shares’ price movement remains not stable. The stochastic readings are equally revealing at 90.25% meaning the RCL share price is currently in oversold territory.
The technical chart shows that the RCL stock will likely settle at between $70.86 and $72.88 per share. However, if the stock dips below $67.51, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $66.18.
Currently, the stock is trading in the green of MACD, with a reading of 3.96. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at SunTrust cut their recommendation for RCL from Buy to Hold in July 14 review while maintai their target price of $48. Macquarie analysts downgraded their recommendation of the stock from Outperform to Neutral while keeping its target price at $56 to $52 in a flash note released to investors on July 14. Barclays seeing the stock struggling downgraded it from Overweight to Equal Weight on June 24 placing it at $55 to $50.
The average rating for the RCL equity is 2.58 and is currently gathering a bullish momentum. Of 18 analysts tracking Royal Caribbean Group polled by Reuters, 10 rated RCL as a hold. The remaining 8 analysts were split evenly. However, the split wasn’t equal as a majority (6) rated it as a buy or strong buy. 2 analyst advised investors against buying the stock or to sell if they own any of the stock.
Zacks Consensus Estimate forecasts that the current-quarter revenues for Royal Caribbean Group (NYSE:RCL) will decrease by about -88.87%, which will see them reach $19.59 million. The company’s full-year revenues are, however, expected to diminish by about -77.17%, down from $11000 million to $2500 million. RCL’s expected adjusted earnings should drop almost -220.37% to end up at -$5.14 per share, while for the fiscal year, analysts project the company’s earnings to drop by about -280.19% to record -$17.19/share.