Royal Caribbean Cruises (NYSE:RCL) Given New $275.00 Price Target at The Goldman Sachs Group

Royal Caribbean Cruises (NYSE:RCL) had its target price hoisted by The Goldman Sachs Group from $245.00 to $275.00 in a research note issued to investors on Tuesday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

RCL has been the topic of a number of other research reports. Barclays increased their price target on Royal Caribbean Cruises from $244.00 to $245.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Tigress Financial increased their target price on Royal Caribbean Cruises from $210.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Macquarie lifted their price target on shares of Royal Caribbean Cruises from $189.00 to $250.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. upped their price objective on shares of Royal Caribbean Cruises from $213.00 to $243.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 29th. Finally, Truist Financial lifted their target price on shares of Royal Caribbean Cruises from $204.00 to $272.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $237.13.

Royal Caribbean Cruises Trading Down 0.6 %

Royal Caribbean Cruises stock opened at $244.16 on Tuesday. The company has a current ratio of 0.19, a quick ratio of 0.16 and a debt-to-equity ratio of 2.63. The firm has a market cap of $65.65 billion, a PE ratio of 25.23, a P/E/G ratio of 0.68 and a beta of 2.59. The stock’s 50 day simple moving average is $219.63 and its two-hundred day simple moving average is $180.79. Royal Caribbean Cruises has a 12 month low of $113.10 and a 12 month high of $258.70.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings data on Tuesday, October 29th. The company reported $5.20 earnings per share for the quarter, beating analysts’ consensus estimates 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 company had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $4.89 billion. During the same quarter in the previous year, the company earned $3.85 earnings per share. The firm’s revenue for the quarter was up 17.5% on a year-over-year basis. Analysts anticipate that Royal Caribbean Cruises will post 11.65 earnings per share for the current year.

Royal Caribbean Cruises Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Friday, December 27th will be paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend is Friday, December 27th. Royal Caribbean Cruises’s dividend payout ratio (DPR) is currently 16.44%.

Insider Buying and Selling at Royal Caribbean Cruises

In other news, CAO Henry L. Pujol sold 6,723 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $208.51, for a total value of $1,401,812.73. Following the completion of the sale, the chief accounting officer now owns 9,964 shares of the company’s stock, valued at $2,077,593.64. This represents a 40.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Richard D. Fain sold 25,000 shares of Royal Caribbean Cruises stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $210.02, for a total transaction of $5,250,500.00. Following the sale, the director now directly owns 204,521 shares in the company, valued at approximately $42,953,500.42. The trade was a 10.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 404,332 shares of company stock worth $94,299,521 in the last three months. 7.95% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Royal Caribbean Cruises

A number of hedge funds have recently modified their holdings of RCL. Dimensional Fund Advisors LP lifted its position in Royal Caribbean Cruises by 24.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,048,501 shares of the company’s stock valued at $326,616,000 after buying an additional 400,565 shares during the last quarter. D1 Capital Partners L.P. lifted its holdings in shares of Royal Caribbean Cruises by 3.8% in the 3rd quarter. D1 Capital Partners L.P. now owns 1,570,262 shares of the company’s stock worth $278,502,000 after acquiring an additional 58,159 shares during the last quarter. Swiss National Bank lifted its holdings in shares of Royal Caribbean Cruises by 0.5% in the 3rd quarter. Swiss National Bank now owns 725,638 shares of the company’s stock worth $128,699,000 after acquiring an additional 3,800 shares during the last quarter. Disciplined Growth Investors Inc. MN boosted its position in shares of Royal Caribbean Cruises by 2.3% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 591,552 shares of the company’s stock worth $104,918,000 after purchasing an additional 13,520 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. increased its holdings in Royal Caribbean Cruises by 0.3% in the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 570,587 shares of the company’s stock valued at $90,969,000 after purchasing an additional 1,865 shares during the last quarter. 87.53% of the stock is currently owned by hedge funds and other institutional investors.

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.