Royal Caribbean Cruises (NYSE:RCL) Price Target Raised to $308.00

Royal Caribbean Cruises (NYSE:RCL) had its target price boosted by Barclays from $287.00 to $308.00 in a research report released on Wednesday,Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other research analysts have also recently issued reports on the company. Bank of America increased their price objective on Royal Caribbean Cruises from $210.00 to $240.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. Sanford C. Bernstein began coverage on shares of Royal Caribbean Cruises in a research note on Tuesday, November 26th. They issued an “outperform” rating and a $290.00 price objective for the company. Mizuho restated an “outperform” rating and set a $253.00 target price (down from $255.00) on shares of Royal Caribbean Cruises in a research report on Thursday, January 23rd. Citigroup lifted their price target on shares of Royal Caribbean Cruises from $283.00 to $304.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, StockNews.com upgraded Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a report on Tuesday, November 26th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $274.19.

Royal Caribbean Cruises Stock Down 3.0 %

RCL stock opened at $266.48 on Wednesday. The stock has a market capitalization of $71.65 billion, a PE ratio of 24.93, a price-to-earnings-growth ratio of 0.55 and a beta of 2.59. The company has a fifty day moving average of $239.86 and a 200-day moving average of $201.20. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.16 and a current ratio of 0.17. Royal Caribbean Cruises has a one year low of $113.10 and a one year high of $277.08.

Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings data on Tuesday, January 28th. The company reported $1.63 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.13. Royal Caribbean Cruises had a net margin of 17.46% and a return on equity of 48.97%. During the same period in the prior year, the company earned $1.25 earnings per share. As a group, analysts expect that Royal Caribbean Cruises will post 15 EPS for the current year.

Royal Caribbean Cruises Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Friday, December 27th were issued a $0.55 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.20 annualized dividend 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, EVP Harri U. Kulovaara sold 3,256 shares of the stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $234.62, for a total transaction of $763,922.72. Following the transaction, the executive vice president now owns 22,348 shares of the company’s stock, valued at $5,243,287.76. This trade represents a 12.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Arne Alexander Wilhelmsen sold 230,000 shares of Royal Caribbean Cruises stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $233.62, for a total transaction of $53,732,600.00. Following the completion of the transaction, the director now owns 18,556,860 shares in the company, valued at approximately $4,335,253,633.20. This trade represents a 1.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 372,609 shares of company stock valued at $87,647,208 in the last quarter. 7.95% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Royal Caribbean Cruises

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Public Sector Pension Investment Board increased its position in shares of Royal Caribbean Cruises by 93.4% in the second quarter. Public Sector Pension Investment Board now owns 8,127 shares of the company’s stock worth $1,296,000 after acquiring an additional 3,925 shares in the last quarter. NewEdge Advisors LLC lifted its position in Royal Caribbean Cruises by 144.4% during the 2nd quarter. NewEdge Advisors LLC now owns 14,115 shares of the company’s stock worth $2,250,000 after acquiring an additional 8,340 shares in the last quarter. EP Wealth Advisors LLC purchased a new position in Royal Caribbean Cruises in the 2nd quarter worth approximately $260,000. Truist Financial Corp grew its position in Royal Caribbean Cruises by 19.2% in the second quarter. Truist Financial Corp now owns 20,958 shares of the company’s stock valued at $3,341,000 after acquiring an additional 3,369 shares in the last quarter. Finally, Granite Bay Wealth Management LLC purchased a new stake in shares of Royal Caribbean Cruises during the second quarter valued at approximately $253,000. 87.53% of the stock is currently owned by institutional investors and hedge funds.

Royal Caribbean Cruises Company Profile

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.