Royal Caribbean Cruises (NYSE:RCL) Reaches New 52-Week High Following Analyst Upgrade

Royal Caribbean Cruises Ltd. (NYSE:RCL) shares reached a new 52-week high during mid-day trading on Monday after Stifel Nicolaus raised their price target on the stock from $200.00 to $230.00. Stifel Nicolaus currently has a buy rating on the stock. Royal Caribbean Cruises traded as high as $196.44 and last traded at $196.44, with a volume of 5659 shares traded. The stock had previously closed at $195.69.

RCL has been the subject of a number of other reports. The Goldman Sachs Group upped their price objective on Royal Caribbean Cruises from $170.00 to $195.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. UBS Group upped their price objective on Royal Caribbean Cruises from $168.00 to $183.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Bank of America increased their price target on Royal Caribbean Cruises from $145.00 to $172.00 and gave the company a “neutral” rating in a research note on Tuesday, July 23rd. Susquehanna increased their price target on Royal Caribbean Cruises from $160.00 to $180.00 and gave the company a “positive” rating in a research note on Tuesday, July 30th. Finally, Mizuho increased their price target on Royal Caribbean Cruises from $168.00 to $195.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $189.06.

Insider Transactions at Royal Caribbean Cruises

In related news, CFO Naftali Holtz bought 5,350 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were purchased at an average cost of $140.00 per share, with a total value of $749,000.00. Following the completion of the acquisition, the chief financial officer now directly owns 48,256 shares in the company, valued at approximately $6,755,840. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Naftali Holtz bought 5,350 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were purchased at an average cost of $140.00 per share, with a total value of $749,000.00. Following the completion of the acquisition, the chief financial officer now directly owns 48,256 shares in the company, valued at approximately $6,755,840. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Laura H. Bethge sold 3,073 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $168.71, for a total value of $518,445.83. Following the sale, the insider now directly owns 27,388 shares in the company, valued at approximately $4,620,629.48. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 7.95% of the company’s stock.

Institutional Trading of Royal Caribbean Cruises

Several institutional investors have recently bought and sold shares of RCL. Virtu Financial LLC acquired a new stake in Royal Caribbean Cruises in the fourth quarter valued at approximately $765,000. Syon Capital LLC purchased a new position in shares of Royal Caribbean Cruises in the fourth quarter valued at approximately $306,000. American International Group Inc. lifted its position in shares of Royal Caribbean Cruises by 3.6% in the fourth quarter. American International Group Inc. now owns 65,234 shares of the company’s stock valued at $8,447,000 after acquiring an additional 2,255 shares in the last quarter. Scarborough Advisors LLC purchased a new position in shares of Royal Caribbean Cruises in the fourth quarter valued at approximately $26,000. Finally, Creekmur Asset Management LLC purchased a new position in shares of Royal Caribbean Cruises in the fourth quarter valued at approximately $30,000. 87.53% of the stock is owned by institutional investors and hedge funds.

Royal Caribbean Cruises Stock Performance

The firm has a market cap of $50.69 billion, a PE ratio of 25.38, a P/E/G ratio of 0.55 and a beta of 2.61. The firm has a 50-day moving average price of $167.91 and a two-hundred day moving average price of $155.16. The company has a quick ratio of 0.17, a current ratio of 0.19 and a debt-to-equity ratio of 3.20.

Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings data on Thursday, July 25th. The company reported $3.21 EPS for the quarter, topping analysts’ consensus estimates of $2.76 by $0.45. Royal Caribbean Cruises had a return on equity of 52.49% and a net margin of 16.32%. The firm had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.05 billion. During the same quarter last year, the business posted $1.82 earnings per share. The firm’s revenue was up 16.4% compared to the same quarter last year. Research analysts forecast that Royal Caribbean Cruises Ltd. will post 11.63 EPS for the current fiscal year.

Royal Caribbean Cruises Dividend Announcement

The business also recently disclosed a — dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 20th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, September 20th. Royal Caribbean Cruises’s payout ratio is 20.62%.

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.