Brokerages Set Royal Caribbean Cruises Ltd. (NYSE:RCL) PT at $239.75

Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) have earned a consensus rating of “Moderate Buy” from the sixteen brokerages that are covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a hold recommendation and fourteen have issued a buy recommendation on the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $239.75.

Several analysts have recently weighed in on RCL shares. Tigress Financial raised their price objective on shares of Royal Caribbean Cruises from $210.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Bank of America upped their price target on shares of Royal Caribbean Cruises from $210.00 to $240.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Barclays lifted their price objective on Royal Caribbean Cruises from $245.00 to $287.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. JPMorgan Chase & Co. lifted their price target on Royal Caribbean Cruises from $213.00 to $243.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 29th. Finally, Citigroup increased their price objective 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.

Insider Activity at Royal Caribbean Cruises

In other news, EVP Harri U. Kulovaara sold 3,256 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $234.62, for a total value of $763,922.72. Following the completion of the sale, the executive vice president now directly owns 22,348 shares of the company’s stock, valued at $5,243,287.76. This represents a 12.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, 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 transaction, the director now directly owns 18,556,860 shares of the company’s stock, valued at $4,335,253,633.20. This represents a 1.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 404,332 shares of company stock valued at $94,299,521 over the last 90 days. Corporate insiders own 7.95% of the company’s stock.

Institutional Investors Weigh In On Royal Caribbean Cruises

A number of institutional investors and hedge funds have recently bought and sold shares of RCL. Plato Investment Management Ltd acquired a new position in Royal Caribbean Cruises during the 3rd quarter valued at approximately $26,000. Safe Harbor Fiduciary LLC acquired a new stake in shares of Royal Caribbean Cruises in the third quarter valued at about $27,000. DiNuzzo Private Wealth Inc. grew its position in shares of Royal Caribbean Cruises by 257.4% in the third quarter. DiNuzzo Private Wealth Inc. now owns 168 shares of the company’s stock valued at $30,000 after purchasing an additional 121 shares during the period. Unique Wealth Strategies LLC acquired a new position in Royal Caribbean Cruises in the 2nd quarter valued at $27,000. Finally, LRI Investments LLC acquired a new position in Royal Caribbean Cruises during the third quarter worth $31,000. 87.53% of the stock is owned by institutional investors.

Royal Caribbean Cruises Trading Down 0.3 %

Shares of RCL stock opened at $242.15 on Friday. 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 firm has a market cap of $65.11 billion, a P/E ratio of 24.89, a PEG ratio of 0.65 and a beta of 2.59. The company has a 50 day moving average of $224.80 and a 200-day moving average of $183.71. 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 announced its quarterly earnings results on Tuesday, October 29th. The company reported $5.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.05 by $0.15. The firm 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%. The company’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same period in the prior year, the firm posted $3.85 earnings per share. 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 company also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Friday, December 27th will be issued a $0.55 dividend. The ex-dividend date is Friday, December 27th. This represents a $2.20 annualized dividend and a yield of 0.91%. Royal Caribbean Cruises’s dividend payout ratio (DPR) is presently 22.61%.

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.