Royal Caribbean Cruises (NYSE:RCL) Lowered to Sell at StockNews.com

StockNews.com downgraded shares of Royal Caribbean Cruises (NYSE:RCL) from a hold rating to a sell rating in a research report released on Wednesday morning.

RCL has been the subject of several other reports. Morgan Stanley raised their price objective on shares of Royal Caribbean Cruises from $140.00 to $154.00 and gave the stock an equal weight rating in a report on Wednesday, August 7th. Macquarie lifted their price target on Royal Caribbean Cruises from $165.00 to $189.00 and gave the company an outperform rating in a research report on Tuesday, July 30th. Susquehanna increased their price objective on Royal Caribbean Cruises from $160.00 to $180.00 and gave the stock a positive rating in a report on Tuesday, July 30th. Truist Financial upped their target price on shares of Royal Caribbean Cruises from $151.00 to $175.00 and gave the stock a buy rating in a research report on Wednesday, May 29th. Finally, Bank of America increased their price target on shares of Royal Caribbean Cruises from $145.00 to $172.00 and gave the stock a neutral rating in a research note on Tuesday, July 23rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $182.13.

Royal Caribbean Cruises Price Performance

RCL opened at $166.94 on Wednesday. The stock’s 50 day moving average price is $158.13 and its 200-day moving average price is $143.93. Royal Caribbean Cruises has a 52-week low of $78.35 and a 52-week high of $173.37. The stock has a market capitalization of $42.96 billion, a PE ratio of 21.51, a price-to-earnings-growth ratio of 0.44 and a beta of 2.62. The company has a debt-to-equity ratio of 3.20, a quick ratio of 0.17 and a current ratio of 0.19.

Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings data on Thursday, July 25th. The company reported $3.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 business had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.05 billion. During the same period in the previous year, the firm earned $1.82 EPS. The company’s quarterly revenue was up 16.4% compared to the same quarter last year. On average, equities research analysts predict that Royal Caribbean Cruises will post 11.63 EPS for the current year.

Royal Caribbean Cruises Dividend Announcement

The firm also recently announced a — dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 20th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, September 20th. Royal Caribbean Cruises’s payout ratio is 20.62%.

Insider Activity

In other Royal Caribbean Cruises news, Director Richard D. Fain sold 19,584 shares of the business’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $153.96, for a total value of $3,015,152.64. Following the completion of the transaction, the director now owns 179,117 shares of the company’s stock, valued at approximately $27,576,853.32. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Vagn O. Sorensen sold 5,800 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $158.50, for a total transaction of $919,300.00. Following the transaction, the director now owns 25,837 shares in the company, valued at $4,095,164.50. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Richard D. Fain sold 19,584 shares of Royal Caribbean Cruises stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $153.96, for a total transaction of $3,015,152.64. Following the completion of the sale, the director now directly owns 179,117 shares of the company’s stock, valued at approximately $27,576,853.32. The disclosure for this sale can be found here. Corporate insiders own 7.95% of the company’s stock.

Hedge Funds Weigh In On Royal Caribbean Cruises

A number of institutional investors and hedge funds have recently modified their holdings of the company. Blair William & Co. IL boosted its position in Royal Caribbean Cruises by 37.4% in the first quarter. Blair William & Co. IL now owns 102,133 shares of the company’s stock worth $14,197,000 after purchasing an additional 27,819 shares during the last quarter. Keystone Financial Group bought a new stake in Royal Caribbean Cruises during the fourth quarter valued at approximately $209,000. Quadrant Capital Group LLC grew its position in Royal Caribbean Cruises by 19.0% during the fourth quarter. Quadrant Capital Group LLC now owns 1,788 shares of the company’s stock valued at $232,000 after buying an additional 285 shares during the period. Franklin Resources Inc. increased its holdings in Royal Caribbean Cruises by 12.0% during the fourth quarter. Franklin Resources Inc. now owns 166,632 shares of the company’s stock valued at $21,577,000 after buying an additional 17,815 shares during the last quarter. Finally, QRG Capital Management Inc. raised its position in Royal Caribbean Cruises by 17.2% in the second quarter. QRG Capital Management Inc. now owns 38,613 shares of the company’s stock worth $6,156,000 after acquiring an additional 5,655 shares during the period. 87.53% of the stock is currently owned by hedge funds and other institutional investors.

Royal Caribbean Cruises Company Profile

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.