Royal Caribbean Cruises (NYSE:RCL) Price Target Raised to $330.00

Royal Caribbean Cruises (NYSE:RCL) had its price target boosted by Tigress Financial from $270.00 to $330.00 in a report issued on Friday,Benzinga reports. They currently have a buy rating on the stock.

Other equities analysts have also recently issued reports about the stock. Morgan Stanley boosted their target price on shares of Royal Caribbean Cruises from $210.00 to $225.00 and gave the company an “equal weight” rating in a research report on Monday, February 3rd. Stifel Nicolaus boosted their price objective on shares of Royal Caribbean Cruises from $250.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Mizuho reaffirmed an “outperform” rating and issued a $253.00 target price (down previously from $255.00) on shares of Royal Caribbean Cruises in a report on Thursday, January 23rd. UBS Group boosted their price target on Royal Caribbean Cruises from $271.00 to $301.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th. Finally, StockNews.com upgraded Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a research report on Tuesday, November 26th. Four analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $284.12.

Royal Caribbean Cruises Trading Down 2.2 %

Shares of NYSE:RCL opened at $264.39 on Friday. The company has a market capitalization of $71.09 billion, a P/E ratio of 24.73, a P/E/G ratio of 1.00 and a beta of 2.59. 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 50 day simple moving average is $242.64 and its 200 day simple moving average is $205.53. Royal Caribbean Cruises has a 1 year low of $113.10 and a 1 year high of $277.08.

Royal Caribbean Cruises (NYSE:RCL) last released its earnings results on Tuesday, January 28th. The company reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate 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 last year, the company posted $1.25 EPS. On average, research analysts anticipate that Royal Caribbean Cruises will post 14.96 EPS for the current fiscal year.

Royal Caribbean Cruises Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Friday, December 27th were issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date was Friday, December 27th. Royal Caribbean Cruises’s payout ratio is 20.58%.

Insider Activity

In other news, Director Arne Alexander Wilhelmsen sold 139,353 shares of the stock in a transaction dated 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 sale, the director now 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 ownership of the stock. 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 the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $234.62, for a total value of $763,922.72. Following the transaction, 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. Over 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.

Institutional Investors Weigh In On Royal Caribbean Cruises

A number of institutional investors have recently modified their holdings of the company. Plato Investment Management Ltd acquired a new position in Royal Caribbean Cruises in the third quarter valued at $26,000. Safe Harbor Fiduciary LLC bought a new position in shares of Royal Caribbean Cruises in the 3rd quarter worth about $27,000. DiNuzzo Private Wealth Inc. lifted its stake in shares of Royal Caribbean Cruises by 257.4% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 168 shares of the company’s stock valued at $30,000 after purchasing an additional 121 shares during the period. LRI Investments LLC bought a new stake in shares of Royal Caribbean Cruises during the 3rd quarter valued at about $31,000. Finally, Bay Harbor Wealth Management LLC acquired a new stake in Royal Caribbean Cruises during the fourth quarter worth approximately $36,000. 87.53% of the stock is owned by institutional investors.

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.