Royal Caribbean Cruises (NYSE:RCL) Price Target Raised to $295.00

Royal Caribbean Cruises (NYSE:RCL) had its price target lifted by JPMorgan Chase & Co. from $253.00 to $295.00 in a research note published on Friday,Benzinga reports. The brokerage currently has an overweight rating on the stock.

RCL has been the topic of a number of other research reports. Macquarie raised their price target on shares of Royal Caribbean Cruises from $189.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Truist Financial raised their target price on shares of Royal Caribbean Cruises from $204.00 to $272.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Bank of America lifted their target price on shares of Royal Caribbean Cruises from $210.00 to $240.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. Tigress Financial increased their price target on Royal Caribbean Cruises from $210.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Citigroup lifted their price objective on Royal Caribbean Cruises from $257.00 to $283.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Royal Caribbean Cruises has a consensus rating of “Moderate Buy” and a consensus price target of $246.50.

Royal Caribbean Cruises Trading Up 3.6 %

NYSE:RCL opened at $241.79 on Friday. The stock has a market cap of $65.01 billion, a price-to-earnings ratio of 24.85, a PEG ratio of 0.48 and a beta of 2.59. The company has a quick ratio of 0.16, a current ratio of 0.19 and a debt-to-equity ratio of 2.63. The company’s 50 day moving average price is $237.34 and its 200-day moving average price is $195.94. Royal Caribbean Cruises has a 52 week low of $113.10 and a 52 week high of $258.70.

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

Royal Caribbean Cruises Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Friday, December 27th were given a $0.55 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.91%. Royal Caribbean Cruises’s payout ratio is currently 22.61%.

Insider Transactions at Royal Caribbean Cruises

In other news, EVP Harri U. Kulovaara sold 3,256 shares of the company’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 completion of the transaction, the executive vice president now owns 22,348 shares of the company’s stock, valued at $5,243,287.76. This represents a 12.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Richard D. Fain sold 25,000 shares of the stock in a transaction that occurred 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 sale, the director now directly owns 204,521 shares of the company’s stock, valued at approximately $42,953,500.42. This trade represents a 10.89 % 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 valued at $94,299,521 over the last three months. Corporate insiders own 7.95% of the company’s stock.

Institutional Trading of Royal Caribbean Cruises

A number of large investors have recently added to or reduced their stakes in the company. Plato Investment Management Ltd purchased a new stake in shares of Royal Caribbean Cruises during the 3rd quarter valued at about $26,000. Safe Harbor Fiduciary LLC bought a new stake in Royal Caribbean Cruises during the third quarter worth approximately $27,000. DiNuzzo Private Wealth Inc. increased its stake in Royal Caribbean Cruises by 257.4% during the third quarter. DiNuzzo Private Wealth Inc. now owns 168 shares of the company’s stock worth $30,000 after acquiring an additional 121 shares during the last quarter. ORG Wealth Partners LLC purchased a new stake in Royal Caribbean Cruises during the fourth quarter valued at approximately $40,000. Finally, LRI Investments LLC bought a new stake in shares of Royal Caribbean Cruises in the 3rd quarter valued at approximately $31,000. Institutional investors 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.