Royal Caribbean Cruises (NYSE:RCL) Price Target Raised to $210.00

Royal Caribbean Cruises (NYSE:RCL) had its price target boosted by Morgan Stanley from $190.00 to $210.00 in a research report released on Wednesday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

Several other research firms also recently issued reports on RCL. Citigroup lifted their price target on Royal Caribbean Cruises from $257.00 to $283.00 and gave the stock a “buy” rating in a research note on Wednesday, December 11th. StockNews.com raised shares of Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a research note on Tuesday, November 26th. Sanford C. Bernstein started coverage on Royal Caribbean Cruises in a report on Tuesday, November 26th. They set an “outperform” rating and a $290.00 target price on the stock. Macquarie upped their price objective on Royal Caribbean Cruises from $189.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, Tigress Financial raised their target price on shares of Royal Caribbean Cruises from $210.00 to $270.00 and gave the stock a “buy” rating in a research report 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. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $243.25.

Royal Caribbean Cruises Price Performance

Shares of NYSE RCL opened at $226.81 on Wednesday. The company has a debt-to-equity ratio of 2.63, a current ratio of 0.19 and a quick ratio of 0.16. The company has a market cap of $60.98 billion, a PE ratio of 23.31, a P/E/G ratio of 0.65 and a beta of 2.59. The stock has a fifty day moving average price of $235.82 and a 200 day moving average price of $193.13. Royal Caribbean Cruises has a 1-year low of $113.10 and a 1-year high of $258.70.

Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $5.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.05 by $0.15. Royal Caribbean Cruises had a net margin of 16.21% and a return on equity of 52.92%. The business had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $4.89 billion. During the same quarter last year, the firm posted $3.85 EPS. The business’s revenue was up 17.5% compared to the same quarter last year. Sell-side analysts forecast that Royal Caribbean Cruises will post 11.65 EPS for the current year.

Royal Caribbean Cruises Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Friday, December 27th will be issued a dividend of $0.55 per share. The ex-dividend date is Friday, December 27th. This represents a $2.20 annualized dividend and a dividend yield of 0.97%. Royal Caribbean Cruises’s payout ratio is currently 22.61%.

Insider Transactions at Royal Caribbean Cruises

In related news, Director Arne Alexander Wilhelmsen sold 139,353 shares of Royal Caribbean Cruises stock in a transaction on Thursday, November 21st. The shares were 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 in the company, valued at approximately $4,321,868,240.23. The trade was a 0.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Harri U. Kulovaara sold 3,256 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $234.62, for a total transaction of $763,922.72. Following the transaction, the executive vice president now owns 22,348 shares in the company, 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 three months, insiders have sold 404,332 shares of company stock valued at $94,299,521. Corporate insiders own 7.95% of the company’s stock.

Institutional Trading of Royal Caribbean Cruises

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Sanctuary Advisors LLC lifted its position in shares of Royal Caribbean Cruises by 76.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 28,991 shares of the company’s stock worth $5,142,000 after buying an additional 12,530 shares during the last quarter. Wedge Capital Management L L P NC raised its stake in Royal Caribbean Cruises by 2.6% during the third 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 period. Souders Financial Advisors bought a new position in Royal Caribbean Cruises in the third quarter worth about $800,000. Swiss National Bank boosted its stake in Royal Caribbean Cruises by 0.5% in the third quarter. Swiss National Bank now owns 725,638 shares of the company’s stock valued at $128,699,000 after acquiring an additional 3,800 shares during the period. Finally, New Wave Wealth Advisors LLC bought a new position in shares of Royal Caribbean Cruises during the second quarter valued at approximately $611,000. 87.53% of the stock is owned by 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.