Royal Caribbean Cruises (NYSE:RCL) Price Target Raised to $225.00 at Morgan Stanley

Royal Caribbean Cruises (NYSE:RCL) had its price objective hoisted by Morgan Stanley from $210.00 to $225.00 in a research note released on Monday morning,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Other equities research analysts have also issued reports about the company. JPMorgan Chase & Co. upped their price target on Royal Caribbean Cruises from $253.00 to $295.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Wells Fargo & Company increased their target price on shares of Royal Caribbean Cruises from $232.00 to $272.00 and gave the stock an “overweight” rating in a report on Monday, January 27th. Susquehanna lifted their price target on shares of Royal Caribbean Cruises from $245.00 to $305.00 and gave the company a “positive” rating in a report on Wednesday, January 29th. Citigroup increased their price objective on shares of Royal Caribbean Cruises from $283.00 to $304.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Finally, Sanford C. Bernstein began coverage on Royal Caribbean Cruises in a research note on Tuesday, November 26th. They issued an “outperform” rating and a $290.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Royal Caribbean Cruises currently has a consensus rating of “Moderate Buy” and a consensus target price of $275.13.

Royal Caribbean Cruises Trading Down 2.1 %

NYSE:RCL opened at $260.98 on Monday. The stock has a market cap of $70.17 billion, a price-to-earnings ratio of 24.41, a price-to-earnings-growth ratio of 0.98 and a beta of 2.59. 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 quick ratio of 0.15 and a current ratio of 0.17. The business’s 50-day simple moving average is $240.36 and its 200 day simple moving average is $202.36.

Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.13. Royal Caribbean Cruises had a net margin of 17.46% and a return on equity of 48.97%. During the same period in the previous year, the firm earned $1.25 EPS. As a group, sell-side analysts predict that Royal Caribbean Cruises will post 14.96 earnings per share for the current fiscal year.

Royal Caribbean Cruises Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Friday, December 27th were paid a $0.55 dividend. The ex-dividend date was Friday, December 27th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.84%. Royal Caribbean Cruises’s payout ratio is presently 20.58%.

Insider Buying and Selling

In other news, Director Arne Alexander Wilhelmsen sold 139,353 shares of the stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $237.89, for a total value of $33,150,685.17. Following the completion of the transaction, the director now directly owns 18,167,507 shares of the company’s stock, valued at approximately $4,321,868,240.23. This represents a 0.76 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Harri U. Kulovaara sold 3,256 shares of Royal Caribbean Cruises stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $234.62, for a total value of $763,922.72. Following the transaction, the executive vice president now directly owns 22,348 shares of the company’s stock, valued at approximately $5,243,287.76. The trade was a 12.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 372,609 shares of company stock valued at $87,647,208. Insiders own 7.95% of the company’s stock.

Hedge Funds Weigh In On Royal Caribbean Cruises

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Truist Financial Corp raised its position in Royal Caribbean Cruises by 19.2% in the 2nd quarter. Truist Financial Corp now owns 20,958 shares of the company’s stock worth $3,341,000 after purchasing an additional 3,369 shares during the last quarter. Cetera Investment Advisers grew its position in shares of Royal Caribbean Cruises by 5.9% during the 2nd quarter. Cetera Investment Advisers now owns 51,097 shares of the company’s stock worth $8,146,000 after buying an additional 2,856 shares during the period. Sanctuary Advisors LLC bought a new stake in Royal Caribbean Cruises in the second quarter valued at approximately $2,624,000. Czech National Bank raised its holdings in Royal Caribbean Cruises by 6.9% in the third quarter. Czech National Bank now owns 48,244 shares of the company’s stock worth $8,557,000 after purchasing an additional 3,127 shares during the period. Finally, GAMMA Investing LLC lifted its holdings in Royal Caribbean Cruises by 14.4% during the third quarter. GAMMA Investing LLC now owns 5,707 shares of the company’s stock worth $1,012,000 after acquiring an additional 719 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.