Royal Caribbean Cruises (NYSE:RCL) Price Target Raised to $210.00 at Morgan Stanley

Royal Caribbean Cruises (NYSE:RCL) had its price objective boosted by Morgan Stanley from $190.00 to $210.00 in a report published on Wednesday morning,Benzinga reports. The firm currently has an equal weight rating on the stock.

Several other research firms also recently weighed in on RCL. Bank of America upped their price objective on shares of Royal Caribbean Cruises from $210.00 to $240.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. Tigress Financial upped 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. Sanford C. Bernstein initiated coverage on shares of Royal Caribbean Cruises in a research note on Tuesday, November 26th. They set an “outperform” rating and a $290.00 price objective on the stock. Barclays boosted their target price on Royal Caribbean Cruises from $245.00 to $287.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Finally, Truist Financial increased their price target on Royal Caribbean Cruises from $204.00 to $272.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, Royal Caribbean Cruises has an average rating of “Moderate Buy” and a consensus target price of $243.25.

Royal Caribbean Cruises Trading Down 0.2 %

Shares of NYSE:RCL opened at $226.81 on Wednesday. The company has a quick ratio of 0.16, a current ratio of 0.19 and a debt-to-equity ratio of 2.63. The company’s 50-day moving average price is $235.82 and its 200 day moving average price is $193.13. The company has a market cap of $60.98 billion, a PE ratio of 23.31, a P/E/G ratio of 0.65 and a beta of 2.59. Royal Caribbean Cruises has a fifty-two week low of $113.10 and a fifty-two week high of $258.70.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings results 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 return on equity of 52.92% and a net margin of 16.21%. The company had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $4.89 billion. During the same quarter in the previous year, the company posted $3.85 earnings per share. The business’s revenue for the quarter was up 17.5% compared to the same quarter last year. Sell-side 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 $0.55 dividend. The ex-dividend date is Friday, December 27th. This represents a $2.20 annualized dividend and a yield of 0.97%. Royal Caribbean Cruises’s dividend payout ratio is presently 22.61%.

Insider Activity

In related news, CAO Henry L. Pujol sold 6,723 shares of the company’s stock in a transaction 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 directly owns 9,964 shares in the company, valued at approximately $2,077,593.64. This represents a 40.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Arne Alexander Wilhelmsen sold 139,353 shares of the stock in a transaction 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 transaction, the director now directly owns 18,167,507 shares in the company, valued at $4,321,868,240.23. The trade was a 0.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 404,332 shares of company stock worth $94,299,521 in the last ninety days. Corporate insiders own 7.95% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. FSM Wealth Advisors LLC lifted its position in Royal Caribbean Cruises by 3.2% during the 3rd quarter. FSM Wealth Advisors LLC now owns 1,636 shares of the company’s stock worth $290,000 after acquiring an additional 51 shares during the last quarter. Venturi Wealth Management LLC increased its stake in shares of Royal Caribbean Cruises by 20.9% in the third quarter. Venturi Wealth Management LLC now owns 353 shares of the company’s stock worth $63,000 after purchasing an additional 61 shares during the period. Venture Visionary Partners LLC lifted its position in shares of Royal Caribbean Cruises by 4.8% during the 3rd quarter. Venture Visionary Partners LLC now owns 1,366 shares of the company’s stock worth $242,000 after purchasing an additional 62 shares during the last quarter. Empower Advisory Group LLC boosted its stake in Royal Caribbean Cruises by 3.7% during the 3rd quarter. Empower Advisory Group LLC now owns 1,755 shares of the company’s stock valued at $311,000 after purchasing an additional 63 shares during the period. Finally, Continuum Advisory LLC grew its holdings in Royal Caribbean Cruises by 10.3% in the 3rd quarter. Continuum Advisory LLC now owns 705 shares of the company’s stock valued at $125,000 after buying an additional 66 shares during the last quarter. Institutional investors and hedge funds 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.