Royal Caribbean Cruises (NYSE:RCL) Price Target Raised to $272.00

Royal Caribbean Cruises (NYSE:RCL) had its target price increased by Wells Fargo & Company from $232.00 to $272.00 in a research report report published on Monday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Other equities research analysts have also issued research reports about the stock. Tigress Financial upped their price target on shares of Royal Caribbean Cruises from $210.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Citigroup upped their target price on shares of Royal Caribbean Cruises from $257.00 to $283.00 and gave the company a “buy” rating in a report on Wednesday, December 11th. Macquarie lifted their price target on shares of Royal Caribbean Cruises from $189.00 to $250.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Stifel Nicolaus upped their price objective on Royal Caribbean Cruises from $250.00 to $310.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Finally, Barclays lifted their target price on Royal Caribbean Cruises from $245.00 to $287.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Three equities research 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 company has an average rating of “Moderate Buy” and a consensus target price of $271.06.

Royal Caribbean Cruises Price Performance

Shares of NYSE RCL opened at $268.77 on Monday. The firm has a market cap of $72.27 billion, a P/E ratio of 27.62, a PEG ratio of 0.50 and a beta of 2.59. Royal Caribbean Cruises has a twelve month low of $113.10 and a twelve month high of $271.31. 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 has a 50 day moving average of $238.47 and a 200 day moving average of $200.21.

Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.13. Royal Caribbean Cruises had a net margin of 16.21% and a return on equity of 52.92%. During the same quarter in the prior year, the firm posted $1.25 EPS. As a group, research analysts expect that Royal Caribbean Cruises will post 11.66 EPS for the current fiscal year.

Royal Caribbean Cruises Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Friday, December 27th were paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date of this dividend was Friday, December 27th. Royal Caribbean Cruises’s payout ratio is 22.61%.

Insiders Place Their Bets

In other news, Director Arne Alexander Wilhelmsen sold 230,000 shares of Royal Caribbean Cruises stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $233.62, for a total value of $53,732,600.00. Following the completion of the transaction, the director now owns 18,556,860 shares in the company, valued at approximately $4,335,253,633.20. The trade was a 1.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 value of $763,922.72. Following the sale, the executive vice president now owns 22,348 shares in the company, valued at $5,243,287.76. The trade was a 12.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 372,609 shares of company stock valued at $87,647,208 in the last three months. Corporate insiders own 7.95% of the company’s stock.

Institutional Trading of Royal Caribbean Cruises

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hemington Wealth Management grew its stake in shares of Royal Caribbean Cruises by 9.0% during the fourth quarter. Hemington Wealth Management now owns 533 shares of the company’s stock valued at $123,000 after buying an additional 44 shares during the last quarter. Fifth Third Wealth Advisors LLC grew its position in Royal Caribbean Cruises by 2.2% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 2,360 shares of the company’s stock valued at $544,000 after acquiring an additional 50 shares during the last quarter. Bartlett & CO. Wealth Management LLC grew its position in Royal Caribbean Cruises by 12.3% in the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 457 shares of the company’s stock valued at $106,000 after acquiring an additional 50 shares during the last quarter. FSM Wealth Advisors LLC increased its stake in Royal Caribbean Cruises by 3.2% in the third quarter. FSM Wealth Advisors LLC now owns 1,636 shares of the company’s stock worth $290,000 after purchasing an additional 51 shares during the period. Finally, Brooklyn Investment Group lifted its position in shares of Royal Caribbean Cruises by 2.5% during the fourth quarter. Brooklyn Investment Group now owns 2,117 shares of the company’s stock worth $488,000 after purchasing an additional 52 shares during the last quarter. 87.53% of the stock is owned by hedge funds and other 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.