Royal Caribbean Cruises (NYSE:RCL) Shares Gap Up on Analyst Upgrade

Royal Caribbean Cruises Ltd. (NYSE:RCL) gapped up prior to trading on Wednesday after Citigroup raised their price target on the stock from $204.00 to $253.00. The stock had previously closed at $183.39, but opened at $188.29. Citigroup currently has a buy rating on the stock. Royal Caribbean Cruises shares last traded at $188.91, with a volume of 323,422 shares changing hands.

Other equities research analysts have also issued research reports about the company. UBS Group boosted their target price on Royal Caribbean Cruises from $168.00 to $183.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Barclays upped their price target on Royal Caribbean Cruises from $185.00 to $195.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Bank of America upped their price target on Royal Caribbean Cruises from $145.00 to $172.00 and gave the company a “neutral” rating in a research report on Tuesday, July 23rd. Susquehanna upped their price target on Royal Caribbean Cruises from $160.00 to $180.00 and gave the company a “positive” rating in a research report on Tuesday, July 30th. Finally, Truist Financial upped their price target on Royal Caribbean Cruises from $175.00 to $204.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $187.19.

Insider Activity

In other news, CFO Naftali Holtz acquired 5,350 shares of the business’s stock in a transaction dated Friday, August 2nd. The stock was purchased at an average price of $140.00 per share, for a total transaction of $749,000.00. Following the completion of the transaction, the chief financial officer now directly owns 48,256 shares in the company, valued at approximately $6,755,840. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Vagn O. Sorensen sold 5,800 shares of Royal Caribbean Cruises stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $158.50, for a total value of $919,300.00. Following the completion of the transaction, the director now owns 25,837 shares in the company, valued at approximately $4,095,164.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Naftali Holtz purchased 5,350 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was bought at an average price of $140.00 per share, with a total value of $749,000.00. Following the transaction, the chief financial officer now owns 48,256 shares of the company’s stock, valued at $6,755,840. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 7.95% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Unique Wealth Strategies LLC bought a new stake in Royal Caribbean Cruises in the second quarter worth about $27,000. Versant Capital Management Inc raised its stake in shares of Royal Caribbean Cruises by 905.3% during the second quarter. Versant Capital Management Inc now owns 191 shares of the company’s stock valued at $30,000 after acquiring an additional 172 shares in the last quarter. Scarborough Advisors LLC bought a new stake in shares of Royal Caribbean Cruises during the fourth quarter valued at approximately $26,000. AlphaMark Advisors LLC raised its stake in shares of Royal Caribbean Cruises by 233.3% during the second quarter. AlphaMark Advisors LLC now owns 200 shares of the company’s stock valued at $32,000 after acquiring an additional 140 shares in the last quarter. Finally, Creekmur Asset Management LLC bought a new stake in shares of Royal Caribbean Cruises during the fourth quarter valued at approximately $30,000. Hedge funds and other institutional investors own 87.53% of the company’s stock.

Royal Caribbean Cruises Stock Up 5.3 %

The company’s 50 day moving average price is $164.00 and its two-hundred day moving average price is $153.56. The company has a quick ratio of 0.17, a current ratio of 0.19 and a debt-to-equity ratio of 3.20. The stock has a market cap of $49.68 billion, a P/E ratio of 24.88, a P/E/G ratio of 0.50 and a beta of 2.61.

Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings results on Thursday, July 25th. The company reported $3.21 earnings per share for the quarter, beating the consensus estimate of $2.76 by $0.45. Royal Caribbean Cruises had a net margin of 16.32% and a return on equity of 52.49%. The firm had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.05 billion. During the same quarter in the previous year, the firm posted $1.82 earnings per share. The company’s revenue was up 16.4% on a year-over-year basis. As a group, research analysts expect that Royal Caribbean Cruises Ltd. will post 11.63 earnings per share for the current year.

Royal Caribbean Cruises Dividend Announcement

The firm also recently disclosed 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 is Friday, September 20th. Royal Caribbean Cruises’s dividend payout ratio (DPR) is 20.62%.

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.