Royal Caribbean Cruises (NYSE:RCL) Sets New 12-Month High at $175.25

Royal Caribbean Cruises Ltd. (NYSE:RCL) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $175.25 and last traded at $174.05, with a volume of 114163 shares changing hands. The stock had previously closed at $174.05.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. Barclays lifted their price target on Royal Caribbean Cruises from $185.00 to $195.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Mizuho lifted their target price on Royal Caribbean Cruises from $168.00 to $195.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Argus increased their price target on Royal Caribbean Cruises from $161.00 to $172.00 and gave the company a “buy” rating in a report on Wednesday, May 29th. Truist Financial lifted their price objective on shares of Royal Caribbean Cruises from $151.00 to $175.00 and gave the stock a “buy” rating in a research note on Wednesday, May 29th. Finally, JPMorgan Chase & Co. increased their target price on shares of Royal Caribbean Cruises from $210.00 to $213.00 and gave the company an “overweight” rating in a research note on Monday, September 16th. One analyst has rated the stock with a sell rating, two have given a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $182.31.

Royal Caribbean Cruises Price Performance

The firm has a market capitalization of $45.02 billion, a P/E ratio of 22.43, a P/E/G ratio of 0.49 and a beta of 2.61. The stock’s 50 day simple moving average is $160.46 and its 200 day simple moving average is $149.54. 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 announced its quarterly earnings data on Thursday, July 25th. The company reported $3.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.76 by $0.45. The company had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.05 billion. Royal Caribbean Cruises had a return on equity of 52.49% and a net margin of 16.32%. Royal Caribbean Cruises’s revenue was up 16.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.82 earnings per share. As a group, analysts expect that Royal Caribbean Cruises Ltd. will post 11.65 earnings per share for the current fiscal year.

Royal Caribbean Cruises Dividend Announcement

The company also recently disclosed a — dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 20th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, September 20th.

Insiders Place Their Bets

In other Royal Caribbean Cruises news, CFO Naftali Holtz purchased 5,350 shares of Royal Caribbean Cruises stock in a transaction dated Friday, August 2nd. The stock was acquired at an average price of $140.00 per share, for a total transaction of $749,000.00. Following the acquisition, the chief financial officer now owns 48,256 shares in the company, valued at approximately $6,755,840. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In related news, Director Vagn O. Sorensen sold 5,800 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $158.50, for a total transaction of $919,300.00. Following the completion of the sale, the director now directly owns 25,837 shares in the company, valued at approximately $4,095,164.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Naftali Holtz bought 5,350 shares of the business’s stock in a transaction on Friday, August 2nd. The stock was bought at an average price of $140.00 per share, for a total transaction of $749,000.00. Following the purchase, the chief financial officer now directly owns 48,256 shares of the company’s stock, valued at $6,755,840. The disclosure for this purchase can be found here. 7.95% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Blair William & Co. IL raised its stake 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 valued at $14,197,000 after buying an additional 27,819 shares during the last quarter. Franklin Resources Inc. grew its position in Royal Caribbean Cruises by 12.0% during the 4th quarter. Franklin Resources Inc. now owns 166,632 shares of the company’s stock worth $21,577,000 after purchasing an additional 17,815 shares during the last quarter. QRG Capital Management Inc. increased its stake in Royal Caribbean Cruises by 17.2% during the 2nd quarter. QRG Capital Management Inc. now owns 38,613 shares of the company’s stock valued at $6,156,000 after purchasing an additional 5,655 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of Royal Caribbean Cruises in the fourth quarter worth $765,000. Finally, Cibc World Markets Corp lifted its stake in shares of Royal Caribbean Cruises by 40.9% during the fourth quarter. Cibc World Markets Corp now owns 59,677 shares of the company’s stock worth $7,728,000 after buying an additional 17,316 shares during the period. 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.