Royal Caribbean Cruises (NYSE:RCL) Price Target Raised to $301.00

Royal Caribbean Cruises (NYSE:RCL) had its price objective boosted by UBS Group from $271.00 to $301.00 in a research note published on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other research analysts have also recently commented on RCL. Susquehanna upped their price target on Royal Caribbean Cruises from $245.00 to $305.00 and gave the company a “positive” rating in a research report on Wednesday, January 29th. Truist Financial increased their price objective on Royal Caribbean Cruises from $204.00 to $272.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Wells Fargo & Company increased their price objective on Royal Caribbean Cruises from $232.00 to $272.00 and gave the stock an “overweight” rating in a report on Monday, January 27th. Tigress Financial increased their price objective on Royal Caribbean Cruises from $210.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. Finally, Morgan Stanley increased their price objective on Royal Caribbean Cruises from $210.00 to $225.00 and gave the stock an “equal weight” rating in a report on Monday. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $280.59.

Royal Caribbean Cruises Stock Up 1.3 %

Shares of NYSE RCL opened at $270.35 on Tuesday. Royal Caribbean Cruises has a one year low of $113.10 and a one year high of $277.08. The company has a debt-to-equity ratio of 2.39, a current ratio of 0.17 and a quick ratio of 0.15. The business’s fifty day moving average price is $241.66 and its 200-day moving average price is $204.16. The stock has a market capitalization of $72.69 billion, a PE ratio of 25.29, a P/E/G ratio of 0.98 and a beta of 2.59.

Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $1.63 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.13. Royal Caribbean Cruises had a return on equity of 48.97% and a net margin of 17.46%. During the same quarter in the previous year, the firm posted $1.25 EPS. On average, equities research analysts anticipate that Royal Caribbean Cruises will post 14.96 EPS for the current year.

Royal Caribbean Cruises Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Friday, December 27th were given a dividend of $0.55 per share. The ex-dividend date was Friday, December 27th. This represents a $2.20 annualized dividend and a dividend yield of 0.81%. Royal Caribbean Cruises’s dividend payout ratio (DPR) is presently 20.58%.

Insider Activity

In related news, EVP Harri U. Kulovaara sold 3,256 shares of the 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 completion of the sale, the executive vice president now directly owns 22,348 shares in the company, valued at $5,243,287.76. This represents a 12.72 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Arne Alexander Wilhelmsen sold 230,000 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $233.62, for a total value of $53,732,600.00. Following the sale, the director now 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 372,609 shares of company stock worth $87,647,208. 7.95% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Royal Caribbean Cruises

Several institutional investors have recently bought and sold shares of the stock. Inceptionr LLC purchased a new stake in Royal Caribbean Cruises during the 4th quarter valued at about $898,000. Dana Investment Advisors Inc. lifted its holdings in Royal Caribbean Cruises by 117.7% in the 4th quarter. Dana Investment Advisors Inc. now owns 34,008 shares of the company’s stock worth $7,845,000 after buying an additional 18,384 shares during the period. Arizona State Retirement System lifted its holdings in Royal Caribbean Cruises by 1.4% in the 4th quarter. Arizona State Retirement System now owns 71,029 shares of the company’s stock worth $16,386,000 after buying an additional 985 shares during the period. Verdence Capital Advisors LLC lifted its holdings in Royal Caribbean Cruises by 3.6% in the 4th quarter. Verdence Capital Advisors LLC now owns 1,358 shares of the company’s stock worth $313,000 after buying an additional 47 shares during the period. Finally, Proficio Capital Partners LLC purchased a new stake in Royal Caribbean Cruises in the 4th quarter worth approximately $302,000. 87.53% of the stock is currently owned by hedge funds and other institutional investors.

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.