Truist Financial Increases Royal Caribbean Cruises (NYSE:RCL) Price Target to $204.00

Royal Caribbean Cruises (NYSE:RCL) had its price objective raised by Truist Financial from $175.00 to $204.00 in a research report released on Thursday, Benzinga reports. The brokerage currently has a buy rating on the stock.

RCL has been the topic of a number of other research reports. Morgan Stanley raised their target price on Royal Caribbean Cruises from $140.00 to $154.00 and gave the company an equal weight rating in a report on Wednesday, August 7th. Mizuho raised their target price on Royal Caribbean Cruises from $168.00 to $195.00 and gave the company an outperform rating in a report on Friday, July 26th. JPMorgan Chase & Co. raised their target price on Royal Caribbean Cruises from $210.00 to $213.00 and gave the company an overweight rating in a report on Monday, September 16th. UBS Group raised their target price on Royal Caribbean Cruises from $168.00 to $183.00 and gave the company a buy rating in a report on Wednesday, July 31st. Finally, Citigroup raised their target price on Royal Caribbean Cruises from $165.00 to $204.00 and gave the company a buy rating in a report on Wednesday, June 26th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $184.13.

Royal Caribbean Cruises Stock Performance

Shares of NYSE RCL opened at $177.54 on Thursday. The company has a debt-to-equity ratio of 3.20, a quick ratio of 0.17 and a current ratio of 0.19. The firm has a market cap of $45.69 billion, a price-to-earnings ratio of 22.88, a P/E/G ratio of 0.51 and a beta of 2.61. The business’s 50-day simple moving average is $161.59 and its 200-day simple moving average is $151.31. Royal Caribbean Cruises has a 52 week low of $78.35 and a 52 week high of $184.41.

Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings data on Thursday, July 25th. The company reported $3.21 EPS for the quarter, beating analysts’ consensus estimates of $2.76 by $0.45. The business had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.05 billion. Royal Caribbean Cruises had a return on equity of 52.49% and a net margin of 16.32%. The firm’s revenue for the quarter was up 16.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.82 EPS. As a group, equities research analysts expect that Royal Caribbean Cruises will post 11.66 earnings per share for the current fiscal year.

Royal Caribbean Cruises Announces Dividend

The business also recently declared a — dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 20th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Friday, September 20th. Royal Caribbean Cruises’s dividend payout ratio is 20.62%.

Insider Activity at Royal Caribbean Cruises

In related news, insider Laura H. Bethge sold 3,073 shares of the business’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $168.71, for a total value of $518,445.83. Following the sale, the insider now owns 27,388 shares of the company’s stock, valued at approximately $4,620,629.48. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Laura H. Bethge sold 3,073 shares of the business’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $168.71, for a total value of $518,445.83. Following the sale, the insider now owns 27,388 shares of the company’s stock, valued at approximately $4,620,629.48. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Naftali Holtz purchased 5,350 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was bought at an average cost of $140.00 per share, for a total transaction of $749,000.00. Following the purchase, the chief financial officer now owns 48,256 shares in the company, valued at $6,755,840. The disclosure for this purchase can be found here. 7.95% of the stock is owned by insiders.

Hedge Funds Weigh In On Royal Caribbean Cruises

Institutional investors and hedge funds have recently bought and sold shares of the business. Unique Wealth Strategies LLC acquired a new position in Royal Caribbean Cruises in the second quarter worth $27,000. Versant Capital Management Inc boosted its stake in Royal Caribbean Cruises by 905.3% in the second quarter. Versant Capital Management Inc now owns 191 shares of the company’s stock worth $30,000 after purchasing an additional 172 shares in the last quarter. Scarborough Advisors LLC acquired a new position in Royal Caribbean Cruises in the fourth quarter worth $26,000. AlphaMark Advisors LLC boosted its stake in Royal Caribbean Cruises by 233.3% in the second quarter. AlphaMark Advisors LLC now owns 200 shares of the company’s stock worth $32,000 after purchasing an additional 140 shares in the last quarter. Finally, Creekmur Asset Management LLC acquired a new position in Royal Caribbean Cruises in the fourth quarter worth $30,000. Institutional investors and hedge funds own 87.53% of the company’s stock.

About Royal Caribbean Cruises

Royal Caribbean Cruises Ltd. operates as a cruise company worldwide. The company operates cruises under the Royal Caribbean International, Celebrity Cruises, and Silversea Cruises brands, which comprise a range of itineraries. As of February 21, 2024, it operated 65 ships. Royal Caribbean Cruises Ltd.