Royal Caribbean Cruises (NYSE:RCL) Price Target Raised to $213.00

Royal Caribbean Cruises (NYSE:RCL) had its price target upped by JPMorgan Chase & Co. from $210.00 to $213.00 in a report released on Monday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other research analysts have also recently weighed in on the stock. Barclays boosted their price target on shares of Royal Caribbean Cruises from $185.00 to $195.00 and gave the stock an overweight rating in a report on Friday, July 26th. Tigress Financial upped their target price on shares of Royal Caribbean Cruises from $155.00 to $210.00 and gave the stock a buy rating in a report on Friday, August 2nd. Truist Financial upped their price objective on shares of Royal Caribbean Cruises from $151.00 to $175.00 and gave the stock a buy rating in a research report on Wednesday, May 29th. StockNews.com upgraded Royal Caribbean Cruises from a sell rating to a hold rating in a research report on Friday, September 6th. Finally, The Goldman Sachs Group raised their price objective on Royal Caribbean Cruises from $170.00 to $195.00 and gave the company a buy rating in a research note on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $182.31.

Royal Caribbean Cruises Price Performance

Shares of RCL opened at $171.61 on Monday. Royal Caribbean Cruises has a 1 year low of $78.35 and a 1 year high of $173.40. The business has a 50-day moving average of $160.31 and a 200-day moving average of $148.88. The company has a market capitalization of $44.16 billion, a price-to-earnings ratio of 22.11, a price-to-earnings-growth ratio of 0.47 and a beta of 2.61. The company has a debt-to-equity ratio of 3.20, a current ratio of 0.19 and a quick ratio of 0.17.

Royal Caribbean Cruises (NYSE:RCL) last released its earnings results on Thursday, July 25th. The company reported $3.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.76 by $0.45. The company had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.05 billion. Royal Caribbean Cruises had a net margin of 16.32% and a return on equity of 52.49%. Royal Caribbean Cruises’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.82 EPS. As a group, equities research analysts anticipate that Royal Caribbean Cruises will post 11.65 earnings per share for the current year.

Royal Caribbean Cruises Dividend Announcement

The firm also recently announced a — dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 20th will be given a $0.40 dividend. The ex-dividend date is Friday, September 20th. Royal Caribbean Cruises’s dividend payout ratio is presently 20.62%.

Insider Activity

In related news, insider Laura H. Bethge sold 3,073 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $168.71, for a total value of $518,445.83. Following the transaction, the insider now owns 27,388 shares in the company, valued at approximately $4,620,629.48. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, insider Laura H. Bethge sold 3,073 shares of the business’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $168.71, for a total value of $518,445.83. Following the completion of the transaction, the insider now owns 27,388 shares in the company, valued at $4,620,629.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Naftali Holtz purchased 5,350 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were bought at an average cost of $140.00 per share, for a total transaction of $749,000.00. Following the acquisition, the chief financial officer now owns 48,256 shares in the company, valued at $6,755,840. The disclosure for this purchase can be found here. Company insiders own 7.95% of the company’s stock.

Institutional Investors Weigh In On Royal Caribbean Cruises

Hedge funds have recently modified their holdings of the business. Envestnet Portfolio Solutions Inc. grew its position in shares of Royal Caribbean Cruises by 2.8% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 5,162 shares of the company’s stock worth $668,000 after purchasing an additional 140 shares in the last quarter. Quadrant Capital Group LLC raised its holdings in shares of Royal Caribbean Cruises by 19.0% in the 4th quarter. Quadrant Capital Group LLC now owns 1,788 shares of the company’s stock valued at $232,000 after purchasing an additional 285 shares in the last quarter. ING Groep NV raised its position in shares of Royal Caribbean Cruises by 294.2% in the 4th quarter. ING Groep NV now owns 32,273 shares of the company’s stock worth $4,179,000 after acquiring an additional 24,086 shares in the last quarter. Norges Bank purchased a new stake in Royal Caribbean Cruises during the fourth quarter valued at approximately $323,251,000. Finally, PNC Financial Services Group Inc. raised its stake in Royal Caribbean Cruises by 1.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 46,653 shares of the company’s stock valued at $6,041,000 after buying an additional 527 shares during the last quarter. 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.