Royal Caribbean Cruises (NYSE:RCL) Price Target Raised to $275.00

Royal Caribbean Cruises (NYSE:RCL) had its price target lifted by The Goldman Sachs Group from $245.00 to $275.00 in a report published on Tuesday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

Several other analysts also recently weighed in on RCL. JPMorgan Chase & Co. lifted their target price on Royal Caribbean Cruises from $213.00 to $243.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 29th. Wells Fargo & Company lifted their price objective on shares of Royal Caribbean Cruises from $180.00 to $232.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Citigroup upped their target price on shares of Royal Caribbean Cruises from $253.00 to $257.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Barclays lifted their price target on shares of Royal Caribbean Cruises from $244.00 to $245.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, 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 research note on Thursday, November 7th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $237.13.

Royal Caribbean Cruises Price Performance

RCL stock opened at $244.16 on Tuesday. The company has a current ratio of 0.19, a quick ratio of 0.16 and a debt-to-equity ratio of 2.63. Royal Caribbean Cruises has a 12 month low of $113.10 and a 12 month high of $258.70. The stock has a market cap of $65.65 billion, a PE ratio of 25.23, a P/E/G ratio of 0.68 and a beta of 2.59. The company has a 50-day moving average price of $219.63 and a 200 day moving average price of $180.79.

Royal Caribbean Cruises (NYSE:RCL) last released its earnings results on Tuesday, October 29th. The company reported $5.20 EPS for the quarter, beating analysts’ consensus estimates of $5.05 by $0.15. Royal Caribbean Cruises had a return on equity of 52.92% and a net margin of 16.21%. The firm had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $4.89 billion. During the same quarter in the prior year, the firm posted $3.85 earnings per share. The company’s quarterly revenue was up 17.5% on a year-over-year basis. Equities research 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 declared a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Friday, December 27th will be issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.90%. The ex-dividend date of this dividend is Friday, December 27th. Royal Caribbean Cruises’s dividend payout ratio is currently 16.44%.

Insider Buying and Selling

In other news, CAO Henry L. Pujol sold 6,723 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $208.51, for a total transaction of $1,401,812.73. Following the transaction, the chief accounting officer now owns 9,964 shares in the company, valued at $2,077,593.64. This represents a 40.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Harri U. Kulovaara sold 3,256 shares of Royal Caribbean Cruises stock in a transaction that occurred on 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 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 disclosure for this sale can be found here. Insiders sold a total of 404,332 shares of company stock worth $94,299,521 in the last 90 days. 7.95% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Royal Caribbean Cruises

Institutional investors and hedge funds have recently made changes to their positions in the stock. Wedge Capital Management L L P NC raised its stake in Royal Caribbean Cruises by 2.6% in the 3rd quarter. Wedge Capital Management L L P NC now owns 289,518 shares of the company’s stock worth $51,349,000 after acquiring an additional 7,298 shares during the last quarter. Souders Financial Advisors acquired a new position in shares of Royal Caribbean Cruises in the third quarter valued at about $800,000. Swiss National Bank raised its stake in shares of Royal Caribbean Cruises by 0.5% in the third quarter. Swiss National Bank now owns 725,638 shares of the company’s stock worth $128,699,000 after purchasing an additional 3,800 shares during the last quarter. New Wave Wealth Advisors LLC acquired a new stake in shares of Royal Caribbean Cruises during the second quarter worth about $611,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Royal Caribbean Cruises by 8.0% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 35,575 shares of the company’s stock valued at $6,310,000 after buying an additional 2,640 shares during the last quarter. 87.53% of the stock is currently owned by institutional investors and hedge funds.

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.