Wells Fargo & Company Issues Positive Forecast for Royal Caribbean Cruises (NYSE:RCL) Stock Price

Royal Caribbean Cruises (NYSE:RCL) had its price objective upped by Wells Fargo & Company from $232.00 to $272.00 in a research report sent to investors on Monday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

A number of other brokerages have also recently commented on RCL. Sanford C. Bernstein initiated coverage on shares of Royal Caribbean Cruises in a research note on Tuesday, November 26th. They set an “outperform” rating and a $290.00 price target for the company. Tigress Financial raised their price target on shares of Royal Caribbean Cruises from $210.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Macquarie raised their price target on shares of Royal Caribbean Cruises from $189.00 to $250.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Truist Financial raised their price target on shares of Royal Caribbean Cruises from $204.00 to $272.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. Finally, Stifel Nicolaus raised their price objective on shares of Royal Caribbean Cruises from $250.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, Royal Caribbean Cruises has a consensus rating of “Moderate Buy” and an average target price of $252.31.

Royal Caribbean Cruises Stock Up 2.2 %

NYSE RCL opened at $237.20 on Monday. 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 firm has a 50-day simple moving average of $237.76 and a 200 day simple moving average of $199.00. Royal Caribbean Cruises has a twelve month low of $113.10 and a twelve month high of $258.70. The stock has a market cap of $63.78 billion, a PE ratio of 24.38, a PEG ratio of 0.50 and a beta of 2.59.

Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $5.20 EPS for the quarter, topping analysts’ consensus estimates of $5.05 by $0.15. The firm had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $4.89 billion. Royal Caribbean Cruises had a net margin of 16.21% and a return on equity of 52.92%. The company’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same quarter last year, the company earned $3.85 earnings per share. On average, research analysts forecast that Royal Caribbean Cruises will post 11.66 EPS for the current year.

Royal Caribbean Cruises Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Friday, December 27th were issued a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date of this dividend was Friday, December 27th. Royal Caribbean Cruises’s dividend payout ratio is currently 22.61%.

Insider Activity at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, Director Richard D. Fain sold 25,000 shares of Royal Caribbean Cruises stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $210.02, for a total transaction of $5,250,500.00. Following the completion of the sale, the director now owns 204,521 shares of the company’s stock, valued at approximately $42,953,500.42. The trade was a 10.89 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Arne Alexander Wilhelmsen sold 230,000 shares of Royal Caribbean Cruises stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $233.62, for a total transaction of $53,732,600.00. Following the sale, the director now directly 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 position. The disclosure for this sale can be found here. Insiders sold a total of 404,332 shares of company stock valued at $94,299,521 over the last quarter. Corporate insiders own 7.95% of the company’s stock.

Institutional Trading of Royal Caribbean Cruises

A number of institutional investors have recently bought and sold shares of the business. Fifth Third Wealth Advisors LLC grew its holdings in Royal Caribbean Cruises by 2.2% during the 4th quarter. Fifth Third Wealth Advisors LLC now owns 2,360 shares of the company’s stock worth $544,000 after acquiring an additional 50 shares during the period. Bartlett & CO. Wealth Management LLC grew its holdings in Royal Caribbean Cruises by 12.3% during the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 457 shares of the company’s stock worth $106,000 after acquiring an additional 50 shares during the period. FSM Wealth Advisors LLC boosted its position in shares of Royal Caribbean Cruises by 3.2% during the third quarter. FSM Wealth Advisors LLC now owns 1,636 shares of the company’s stock worth $290,000 after purchasing an additional 51 shares in the last quarter. Brooklyn Investment Group boosted its position in shares of Royal Caribbean Cruises by 2.5% during the fourth quarter. Brooklyn Investment Group now owns 2,117 shares of the company’s stock worth $488,000 after purchasing an additional 52 shares in the last quarter. Finally, Grove Bank & Trust boosted its position in shares of Royal Caribbean Cruises by 10.5% during the fourth quarter. Grove Bank & Trust now owns 613 shares of the company’s stock worth $141,000 after purchasing an additional 58 shares in the last quarter. Institutional investors and hedge funds 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.