Argus Downgrades Royal Caribbean Cruises (RCL) to Hold
- Wall St. edges higher as earnings gather pace
- Alibaba (BABA) Tops Q3 EPS by 17c, Revenues Rise 54%
- DuPont (DD) Tops Q4 EPS by 9c; Sees Merger Closing in First Half
- Johnson & Johnson (JNJ) Tops Q4 EPS by 2c; Guides Modestly Below the Street
- Pre-Open Stock Movers 01/24: (MPSX) (IIVI) (AKS) Higher; (FSM) (OCUL) (VZ) Lower (more...)
Get instant alerts when news breaks on your stocks. Claim your 2-week free trial to StreetInsider Premium here.
Argus downgraded Royal Caribbean Cruises (NYSE: RCL) from Buy to Hold.
The analyst notes rduced guidance assumes higher fuel costs and foreign exchange headwinds, offset in part by the company’s better-than-expected 2Q earnings.
With regard to currency, management estimated that the depreciation of the pound following the Brexit vote would reduce 2016 earnings by $0.14 per share.
The firm is lowering 2016 EPS estimate from $6.40 to $6.15 and 2017 estimate from $7.40 to $7.10.
Shares of Royal Caribbean Cruises closed at $69.08 yesterday.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Zions Bancorp (ZION) PT Lowered to $49 at FIG Partners Following 4Q EPS Beat
- UPDATE: Oppenheimer Upgrades Columbia Property Trust (CXP) to Outperform
- Mercury Computer (MRCY) PT Raised to $30 at Jefferies Following 2Q Report
Create E-mail Alert Related CategoriesAnalyst Comments, Analyst EPS Change, Downgrades
Related EntitiesArgus, Earnings
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!