Royal Caribbean Cruises (NYSE:RCL) Sets New 12-Month High After Earnings Beat

Shares of Royal Caribbean Cruises Ltd. (NYSE:RCLGet Free Report) reached a new 52-week high during trading on Wednesday following a better than expected earnings announcement. The company traded as high as $269.96 and last traded at $264.71, with a volume of 8086822 shares. The stock had previously closed at $236.82.

The company reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.13. Royal Caribbean Cruises had a return on equity of 52.92% and a net margin of 16.21%. During the same period in the prior year, the business posted $1.25 earnings per share.

Royal Caribbean Cruises Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Friday, December 27th were given a $0.55 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.20 annualized dividend and a yield of 0.82%. Royal Caribbean Cruises’s payout ratio is currently 22.61%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Argus boosted their target price on Royal Caribbean Cruises from $280.00 to $305.00 and gave the company a “buy” rating in a research note on Wednesday. StockNews.com raised Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a research note on Tuesday, November 26th. Sanford C. Bernstein started 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. Bank of America upped their price target on Royal Caribbean Cruises from $210.00 to $240.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. Finally, Morgan Stanley increased their target price on Royal Caribbean Cruises from $190.00 to $210.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 8th. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $271.06.

Read Our Latest Stock Analysis on RCL

Insider Activity

In related news, 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 transaction of $763,922.72. Following the transaction, the executive vice president now owns 22,348 shares of the company’s stock, valued at $5,243,287.76. This trade represents a 12.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Arne Alexander Wilhelmsen sold 139,353 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $237.89, for a total value of $33,150,685.17. Following the transaction, the director now directly owns 18,167,507 shares in the company, valued at approximately $4,321,868,240.23. This represents a 0.76 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 372,609 shares of company stock worth $87,647,208. Corporate insiders own 7.95% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Plato Investment Management Ltd purchased a new position in shares of Royal Caribbean Cruises during the 3rd quarter worth $26,000. Safe Harbor Fiduciary LLC acquired a new stake in shares of Royal Caribbean Cruises during the 3rd quarter worth $27,000. DiNuzzo Private Wealth Inc. increased its holdings in shares of Royal Caribbean Cruises by 257.4% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 168 shares of the company’s stock worth $30,000 after buying an additional 121 shares during the last quarter. LRI Investments LLC acquired a new stake in shares of Royal Caribbean Cruises during the 3rd quarter worth $31,000. Finally, Bay Harbor Wealth Management LLC acquired a new stake in shares of Royal Caribbean Cruises during the 4th quarter worth $36,000. 87.53% of the stock is currently owned by institutional investors and hedge funds.

Royal Caribbean Cruises Trading Up 1.3 %

The firm has a market capitalization of $72.27 billion, a price-to-earnings ratio of 27.62, a P/E/G ratio of 0.50 and a beta of 2.59. 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 business has a fifty day moving average price of $238.47 and a 200 day moving average price of $200.21.

Royal Caribbean Cruises Company Profile

(Get Free Report)

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.

Further Reading

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