The Goldman Sachs Group Cuts Royal Caribbean Cruises (NYSE:RCL) Price Target to $270.00

Royal Caribbean Cruises (NYSE:RCL) had its price target cut by The Goldman Sachs Group from $275.00 to $270.00 in a report released on Friday,Benzinga reports. They currently have a buy rating on the stock.

RCL has been the topic of several other reports. Truist Financial increased their price objective on Royal Caribbean Cruises from $204.00 to $272.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. Stifel Nicolaus upped their price objective on shares of Royal Caribbean Cruises from $250.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Mizuho reissued an “outperform” rating and issued a $253.00 price target (down from $255.00) on shares of Royal Caribbean Cruises in a research note on Thursday. Citigroup boosted their target price on Royal Caribbean Cruises from $257.00 to $283.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Finally, Wells Fargo & Company raised their price target on Royal Caribbean Cruises from $180.00 to $232.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $249.81.

Royal Caribbean Cruises Trading Down 2.3 %

Shares of RCL stock opened at $232.59 on Friday. Royal Caribbean Cruises has a 52-week low of $113.10 and a 52-week high of $258.70. The business’s fifty day moving average is $237.76 and its 200 day moving average is $198.74. The company has a debt-to-equity ratio of 2.63, a quick ratio of 0.16 and a current ratio of 0.19. The company has a market capitalization of $62.54 billion, a PE ratio of 23.90, a price-to-earnings-growth ratio of 0.50 and a beta of 2.59.

Royal Caribbean Cruises (NYSE:RCL) last announced its 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. The business had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.89 billion. Royal Caribbean Cruises had a net margin of 16.21% and a return on equity of 52.92%. Royal Caribbean Cruises’s quarterly revenue was up 17.5% on a year-over-year basis. During the same period last year, the firm posted $3.85 earnings per share. On average, equities research analysts anticipate that Royal Caribbean Cruises will post 11.66 EPS for the current fiscal year.

Royal Caribbean Cruises Cuts Dividend

The business also recently declared 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 0.95%. The ex-dividend date of this dividend was Friday, December 27th. Royal Caribbean Cruises’s dividend payout ratio is presently 22.61%.

Insiders Place Their Bets

In other news, CAO Henry L. Pujol sold 6,723 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $208.51, for a total transaction of $1,401,812.73. Following the completion of the transaction, the chief accounting officer now directly owns 9,964 shares of the company’s stock, valued at $2,077,593.64. The trade was a 40.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard D. Fain sold 25,000 shares of the business’s stock in a transaction 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 owns 204,521 shares of the company’s stock, valued at approximately $42,953,500.42. This represents a 10.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 404,332 shares of company stock valued at $94,299,521. Insiders own 7.95% of the company’s stock.

Institutional Investors Weigh In On Royal Caribbean Cruises

Several hedge funds and other institutional investors have recently made changes to their positions in RCL. Park Avenue Securities LLC raised its holdings in Royal Caribbean Cruises by 20.1% in the 4th quarter. Park Avenue Securities LLC now owns 6,630 shares of the company’s stock worth $1,530,000 after purchasing an additional 1,111 shares during the period. Sanctuary Advisors LLC boosted its position in shares of Royal Caribbean Cruises by 76.1% in the third quarter. Sanctuary Advisors LLC now owns 28,991 shares of the company’s stock worth $5,142,000 after purchasing an additional 12,530 shares during the period. Wedge Capital Management L L P NC increased its stake in shares of Royal Caribbean Cruises by 2.6% in the third quarter. Wedge Capital Management L L P NC now owns 289,518 shares of the company’s stock worth $51,349,000 after purchasing an additional 7,298 shares in the last quarter. Souders Financial Advisors bought a new stake in shares of Royal Caribbean Cruises during the 3rd quarter valued at $800,000. Finally, Merit Financial Group LLC increased its stake in Royal Caribbean Cruises by 541.0% in the 4th quarter. Merit Financial Group LLC now owns 9,897 shares of the company’s stock worth $2,283,000 after buying an additional 8,353 shares in the last quarter. 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.