Royal Caribbean Cruises Ltd. (NYSE:RCL) Receives $239.75 Average PT from Analysts

Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) have received a consensus recommendation of “Moderate Buy” from the sixteen analysts that are presently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and fourteen have issued a buy recommendation on the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $239.75.

A number of equities research analysts recently commented on the stock. Citigroup raised their price objective on shares of Royal Caribbean Cruises from $257.00 to $283.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Barclays boosted their price target on Royal Caribbean Cruises from $245.00 to $287.00 and gave the company an “overweight” rating in a report on Friday, December 13th. The Goldman Sachs Group increased their price objective on Royal Caribbean Cruises from $245.00 to $275.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Macquarie boosted their target price on Royal Caribbean Cruises from $189.00 to $250.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Bank of America upped their price target on Royal Caribbean Cruises from $210.00 to $240.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th.

Royal Caribbean Cruises Trading Up 3.3 %

NYSE RCL opened at $238.43 on Friday. Royal Caribbean Cruises has a one year low of $113.10 and a one year high of $258.70. 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 firm has a market cap of $64.11 billion, a P/E ratio of 24.50, a P/E/G ratio of 0.65 and a beta of 2.59. The stock’s 50-day moving average is $227.13 and its 200-day moving average is $185.17.

Royal Caribbean Cruises (NYSE:RCL) last posted its earnings results on Tuesday, October 29th. The company reported $5.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.05 by $0.15. Royal Caribbean Cruises had a return on equity of 52.92% and a net margin of 16.21%. The business had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $4.89 billion. During the same period in the prior year, the business earned $3.85 EPS. Royal Caribbean Cruises’s revenue for the quarter was up 17.5% compared to the same quarter last year. Sell-side analysts anticipate 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 will be paid on Monday, January 13th. Shareholders of record on Friday, December 27th will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 0.92%. The ex-dividend date of this dividend is Friday, December 27th. Royal Caribbean Cruises’s dividend payout ratio (DPR) is currently 22.61%.

Insider Activity

In other news, CAO Henry L. Pujol sold 6,723 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $208.51, for a total value of $1,401,812.73. Following the completion of the sale, the chief accounting officer now directly owns 9,964 shares of the company’s stock, valued at $2,077,593.64. This trade represents a 40.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Arne Alexander Wilhelmsen sold 139,353 shares of Royal Caribbean Cruises 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 transaction, the director now owns 18,167,507 shares of the company’s stock, valued at $4,321,868,240.23. This represents a 0.76 % 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 in the last quarter. Company insiders own 7.95% of the company’s stock.

Hedge Funds Weigh In On Royal Caribbean Cruises

Large investors have recently modified their holdings of the stock. Envestnet Portfolio Solutions Inc. grew its stake in Royal Caribbean Cruises by 20.2% in the 2nd quarter. Envestnet Portfolio Solutions Inc. now owns 8,215 shares of the company’s stock valued at $1,310,000 after buying an additional 1,381 shares during the last quarter. Swedbank AB acquired a new position in shares of Royal Caribbean Cruises in the second quarter valued at approximately $402,000. Assenagon Asset Management S.A. increased its stake in shares of Royal Caribbean Cruises by 17.9% during the second quarter. Assenagon Asset Management S.A. now owns 5,201 shares of the company’s stock worth $829,000 after purchasing an additional 789 shares during the period. Blue Trust Inc. increased its stake in shares of Royal Caribbean Cruises by 168.5% during the second quarter. Blue Trust Inc. now owns 384 shares of the company’s stock worth $61,000 after purchasing an additional 241 shares during the period. Finally, Brookstone Capital Management lifted its holdings in Royal Caribbean Cruises by 3.7% during the 2nd quarter. Brookstone Capital Management now owns 6,470 shares of the company’s stock worth $1,064,000 after purchasing an additional 231 shares during the last quarter. 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.