Royal Caribbean Cruises (NYSE:RCL) Price Target Raised to $287.00

Royal Caribbean Cruises (NYSE:RCL) had its price objective lifted by Barclays from $245.00 to $287.00 in a report released on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other analysts have also recently commented on RCL. Tigress Financial boosted their price target on shares of Royal Caribbean Cruises from $210.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. lifted their target price on Royal Caribbean Cruises from $213.00 to $243.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th. The Goldman Sachs Group increased their price target on Royal Caribbean Cruises from $245.00 to $275.00 and gave the company a “buy” rating in a research note on Tuesday, December 10th. StockNews.com raised Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a research note on Tuesday, November 26th. Finally, Macquarie upped their price objective on Royal Caribbean Cruises from $189.00 to $250.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. 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 has an average rating of “Moderate Buy” and a consensus target price of $239.75.

Royal Caribbean Cruises Stock Performance

NYSE:RCL opened at $245.17 on Friday. The stock has a 50-day moving average price of $222.37 and a 200 day moving average price of $182.37. The company has a current ratio of 0.19, a quick ratio of 0.16 and a debt-to-equity ratio of 2.63. Royal Caribbean Cruises has a 12-month low of $113.10 and a 12-month high of $258.70. The stock has a market capitalization of $65.92 billion, a P/E ratio of 25.20, a P/E/G ratio of 0.65 and a beta of 2.59.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings data on Tuesday, October 29th. The company reported $5.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.05 by $0.15. Royal Caribbean Cruises had a net margin of 16.21% and a return on equity of 52.92%. The firm had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $4.89 billion. During the same quarter last year, the business posted $3.85 earnings per share. The company’s revenue for the quarter was up 17.5% compared to the same quarter last year. Equities research analysts forecast that Royal Caribbean Cruises will post 11.65 EPS for the current fiscal year.

Royal Caribbean Cruises Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Friday, December 27th will be paid a $0.55 dividend. This represents a $2.20 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend is Friday, December 27th. Royal Caribbean Cruises’s dividend payout ratio is currently 16.44%.

Insider Transactions at Royal Caribbean Cruises

In related news, Director Arne Alexander Wilhelmsen sold 139,353 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $237.89, for a total transaction of $33,150,685.17. Following the completion of the sale, the director now directly owns 18,167,507 shares of the company’s stock, valued at approximately $4,321,868,240.23. This trade represents a 0.76 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Harri U. Kulovaara sold 3,256 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $234.62, for a total value of $763,922.72. Following the transaction, the executive vice president now owns 22,348 shares of the company’s stock, valued at approximately $5,243,287.76. The trade was a 12.72 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 404,332 shares of company stock worth $94,299,521. 7.95% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

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