Royal Caribbean Cruises (NYSE:RCL) Price Target Raised to $287.00

Royal Caribbean Cruises (NYSE:RCL) had its price target increased by Barclays from $245.00 to $287.00 in a report published on Friday,Benzinga reports. Barclays currently has an overweight rating on the stock.

Other equities research analysts have also recently issued reports about the company. Sanford C. Bernstein assumed coverage on Royal Caribbean Cruises in a research note on Tuesday, November 26th. They issued an “outperform” rating and a $290.00 price target on the stock. Wells Fargo & Company upped their target price on shares of Royal Caribbean Cruises from $180.00 to $232.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. 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 report on Wednesday, October 30th. 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. Finally, Citigroup lifted their target price on shares of Royal Caribbean Cruises from $257.00 to $283.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $239.75.

Royal Caribbean Cruises Stock Up 0.4 %

Shares of NYSE RCL opened at $245.17 on Friday. The firm has a fifty day simple moving average of $222.37 and a two-hundred day simple moving average of $182.37. Royal Caribbean Cruises has a 12 month low of $113.10 and a 12 month high of $258.70. 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 capitalization of $65.92 billion, a PE ratio of 25.20, a price-to-earnings-growth ratio of 0.65 and a beta of 2.59.

Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $5.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.05 by $0.15. The company had revenue of $4.89 billion for the quarter, compared to analysts’ expectations 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 quarter in the previous year, the company earned $3.85 earnings per share. Equities analysts expect that Royal Caribbean Cruises will post 11.65 earnings per share for the current year.

Royal Caribbean Cruises Cuts Dividend

The business also recently announced 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 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend is Friday, December 27th. Royal Caribbean Cruises’s dividend payout ratio is currently 16.44%.

Insider Transactions at Royal Caribbean Cruises

In related news, Director Arne Alexander Wilhelmsen sold 230,000 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $233.62, for a total transaction of $53,732,600.00. Following the completion of the sale, the director now owns 18,556,860 shares in the company, valued at approximately $4,335,253,633.20. This represents a 1.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Harri U. Kulovaara sold 3,256 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $234.62, for a total value of $763,922.72. Following the completion of the transaction, the executive vice president now directly owns 22,348 shares in the company, valued at $5,243,287.76. The trade was a 12.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 404,332 shares of company stock worth $94,299,521 over the last three months. 7.95% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Envestnet Portfolio Solutions Inc. raised its holdings in Royal Caribbean Cruises by 20.2% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 8,215 shares of the company’s stock worth $1,310,000 after purchasing an additional 1,381 shares during the period. Swedbank AB purchased a new position in shares of Royal Caribbean Cruises during the 2nd quarter valued at about $402,000. Assenagon Asset Management S.A. grew its stake in shares of Royal Caribbean Cruises by 17.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 5,201 shares of the company’s stock valued at $829,000 after acquiring an additional 789 shares during the period. Blue Trust Inc. increased its holdings in Royal Caribbean Cruises by 168.5% in the 2nd quarter. Blue Trust Inc. now owns 384 shares of the company’s stock worth $61,000 after acquiring an additional 241 shares in the last quarter. Finally, Brookstone Capital Management raised its stake in Royal Caribbean Cruises by 3.7% during the 2nd quarter. Brookstone Capital Management now owns 6,470 shares of the company’s stock worth $1,064,000 after acquiring an additional 231 shares during the period. 87.53% of the stock is currently owned by 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.