Royal Caribbean Cruises (NYSE:RCL) Price Target Raised to $305.00

Royal Caribbean Cruises (NYSE:RCL) had its target price increased by Susquehanna from $245.00 to $305.00 in a research report sent to investors on Wednesday morning,Benzinga reports. They currently have a positive rating on the stock.

Other equities research analysts have also recently issued reports about the stock. Mizuho restated an “outperform” rating and set a $253.00 price target (down from $255.00) on shares of Royal Caribbean Cruises in a report on Thursday, January 23rd. Truist Financial raised their target price on Royal Caribbean Cruises from $204.00 to $272.00 and gave the company a “buy” rating in a report on Monday, December 2nd. Stifel Nicolaus upped their target price on shares of Royal Caribbean Cruises from $250.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Barclays raised their price objective on Royal Caribbean Cruises from $287.00 to $308.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, The Goldman Sachs Group cut their target price on Royal Caribbean Cruises from $275.00 to $270.00 and set a “buy” rating for the company in a research note on Friday, January 24th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $274.19.

Royal Caribbean Cruises Stock Down 3.0 %

Shares of Royal Caribbean Cruises stock opened at $266.48 on Wednesday. The company has a debt-to-equity ratio of 2.39, a current ratio of 0.17 and a quick ratio of 0.16. The firm has a market cap of $71.65 billion, a price-to-earnings ratio of 24.93, a P/E/G ratio of 0.55 and a beta of 2.59. Royal Caribbean Cruises has a 52-week low of $113.10 and a 52-week high of $277.08. The stock has a 50-day simple moving average of $239.86 and a 200-day simple moving average of $201.20.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings results on Tuesday, January 28th. The company reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.13. Royal Caribbean Cruises had a return on equity of 48.97% and a net margin of 17.46%. During the same quarter in the prior year, the firm posted $1.25 earnings per share. On average, equities research analysts expect that Royal Caribbean Cruises will post 15 earnings per share for the current fiscal year.

Royal Caribbean Cruises Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Friday, December 27th were given a $0.55 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.20 dividend on an annualized basis and a yield of 0.83%. Royal Caribbean Cruises’s dividend payout ratio (DPR) is presently 20.58%.

Insiders Place Their Bets

In other Royal Caribbean Cruises news, Director Arne Alexander Wilhelmsen sold 139,353 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $237.89, for a total value of $33,150,685.17. Following the transaction, the director now owns 18,167,507 shares of the company’s stock, valued at approximately $4,321,868,240.23. The trade was a 0.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Harri U. Kulovaara sold 3,256 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $234.62, for a total value of $763,922.72. Following the sale, the executive vice president now owns 22,348 shares in the company, valued at $5,243,287.76. The trade was a 12.72 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 372,609 shares of company stock valued at $87,647,208. 7.95% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Plato Investment Management Ltd acquired a new position in shares of Royal Caribbean Cruises during the third quarter worth approximately $26,000. Safe Harbor Fiduciary LLC bought a new position in Royal Caribbean Cruises in the 3rd quarter worth approximately $27,000. DiNuzzo Private Wealth Inc. increased its stake in shares of Royal Caribbean Cruises by 257.4% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 168 shares of the company’s stock valued at $30,000 after buying an additional 121 shares during the period. LRI Investments LLC bought a new stake in shares of Royal Caribbean Cruises during the third quarter worth $31,000. Finally, Bay Harbor Wealth Management LLC acquired a new position in shares of Royal Caribbean Cruises during the fourth quarter valued at $36,000. 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.