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

Royal Caribbean Cruises (NYSE:RCL) had its price target hoisted by Argus from $280.00 to $305.00 in a report published on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other analysts also recently issued reports on RCL. Truist Financial lifted their price objective on shares of Royal Caribbean Cruises from $204.00 to $272.00 and gave the company a “buy” rating in a report on Monday, December 2nd. The Goldman Sachs Group cut their price target on shares of Royal Caribbean Cruises from $275.00 to $270.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. Wells Fargo & Company raised their price objective on Royal Caribbean Cruises from $232.00 to $272.00 and gave the company an “overweight” rating in a report on Monday, January 27th. Tigress Financial upped their target price on Royal Caribbean Cruises from $210.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Barclays raised their price target on Royal Caribbean Cruises from $287.00 to $308.00 and gave the company an “overweight” rating in a research note on Wednesday. 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, Royal Caribbean Cruises presently has an average rating of “Moderate Buy” and an average price target of $274.19.

Royal Caribbean Cruises Trading Down 3.0 %

RCL opened at $266.48 on Wednesday. The stock has a market capitalization of $71.65 billion, a P/E ratio of 24.93, a P/E/G ratio of 0.55 and a beta of 2.59. The company has a current ratio of 0.17, a quick ratio of 0.16 and a debt-to-equity ratio of 2.39. Royal Caribbean Cruises has a 12 month low of $113.10 and a 12 month high of $277.08. The firm’s fifty day simple moving average is $239.86 and its 200 day simple moving average is $201.20.

Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $1.63 earnings per share 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 previous year, the company earned $1.25 earnings per share. As a group, research analysts anticipate that Royal Caribbean Cruises will post 15 EPS for the current fiscal year.

Royal Caribbean Cruises Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Friday, December 27th were given a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 0.83%. The ex-dividend date was Friday, December 27th. Royal Caribbean Cruises’s payout ratio is presently 20.58%.

Insider Buying and Selling

In other news, Director Arne Alexander Wilhelmsen sold 230,000 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $233.62, for a total value of $53,732,600.00. Following the completion of the sale, the director now owns 18,556,860 shares of the company’s stock, valued at approximately $4,335,253,633.20. The trade was a 1.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Harri U. Kulovaara sold 3,256 shares of the company’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $234.62, for a total transaction of $763,922.72. Following the completion of the transaction, the executive vice president now owns 22,348 shares in the company, valued at $5,243,287.76. This trade represents a 12.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 372,609 shares of company stock valued at $87,647,208. Company insiders own 7.95% of the company’s stock.

Institutional Trading of Royal Caribbean Cruises

A number of institutional investors have recently bought and sold shares of the business. Plato Investment Management Ltd acquired a new stake in shares of Royal Caribbean Cruises in the third quarter valued at approximately $26,000. Safe Harbor Fiduciary LLC acquired a new position in Royal Caribbean Cruises in the 3rd quarter valued at $27,000. DiNuzzo Private Wealth Inc. raised its holdings in 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 acquiring an additional 121 shares in the last quarter. LRI Investments LLC bought a new stake in shares of Royal Caribbean Cruises during the 3rd quarter valued at $31,000. Finally, Bay Harbor Wealth Management LLC acquired a new stake in shares of Royal Caribbean Cruises during the 4th quarter worth $36,000. Institutional investors 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.