Royal Caribbean Cruises (NYSE:RCL) Given New $300.00 Price Target at Macquarie

Royal Caribbean Cruises (NYSE:RCL) had its target price hoisted by Macquarie from $250.00 to $300.00 in a report released on Thursday morning,Benzinga reports. They currently have an outperform rating on the stock.

Several other equities analysts have also issued reports on the company. Citigroup lifted their price target on Royal Caribbean Cruises from $283.00 to $304.00 and gave the company a “buy” rating in a research note on Wednesday. Barclays boosted their target price on Royal Caribbean Cruises from $287.00 to $308.00 and gave the stock an “overweight” rating in a research note on Wednesday. Truist Financial lifted their price target on shares of Royal Caribbean Cruises from $204.00 to $272.00 and gave the company a “buy” rating in a report on Monday, December 2nd. Stifel Nicolaus increased their price objective on shares of Royal Caribbean Cruises from $250.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Finally, Wells Fargo & Company boosted their target price on shares of Royal Caribbean Cruises from $232.00 to $272.00 and gave the stock an “overweight” rating in a research note on Monday. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $274.19.

Royal Caribbean Cruises Stock Performance

Shares of NYSE:RCL opened at $274.94 on Thursday. The company’s 50 day moving average price is $239.12 and its two-hundred day moving average price is $200.69. The firm has a market cap of $73.93 billion, a PE ratio of 25.72, a PEG ratio of 0.55 and a beta of 2.59. The company has a quick ratio of 0.16, a current ratio of 0.17 and a debt-to-equity ratio of 2.39. Royal Caribbean Cruises has a 12-month low of $113.10 and a 12-month high of $275.05.

Royal Caribbean Cruises (NYSE:RCL) last released its earnings results on Tuesday, January 28th. The company reported $1.63 EPS for the quarter, beating the consensus estimate of $1.50 by $0.13. Royal Caribbean Cruises had a net margin of 17.46% and a return on equity of 48.97%. During the same period last year, the company posted $1.25 EPS. Equities research analysts predict that Royal Caribbean Cruises will post 15 earnings per share for the current year.

Royal Caribbean Cruises Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Friday, December 27th were issued a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 0.80%. The ex-dividend date was Friday, December 27th. Royal Caribbean Cruises’s dividend payout ratio (DPR) is presently 20.58%.

Insiders Place Their Bets

In other Royal Caribbean Cruises news, EVP Harri U. Kulovaara sold 3,256 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $234.62, for a total transaction 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 position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Arne Alexander Wilhelmsen sold 139,353 shares of Royal Caribbean Cruises stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $237.89, for a total transaction of $33,150,685.17. Following the sale, the director now directly owns 18,167,507 shares in the company, valued at $4,321,868,240.23. The trade was a 0.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 372,609 shares of company stock worth $87,647,208 in the last three months. 7.95% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Royal Caribbean Cruises

Hedge funds have recently bought and sold shares of the company. Park Avenue Securities LLC raised its position in Royal Caribbean Cruises by 20.1% in the 4th quarter. Park Avenue Securities LLC now owns 6,630 shares of the company’s stock worth $1,530,000 after buying an additional 1,111 shares during the last quarter. Sanctuary Advisors LLC raised its holdings in shares of Royal Caribbean Cruises by 76.1% during the third quarter. Sanctuary Advisors LLC now owns 28,991 shares of the company’s stock valued at $5,142,000 after purchasing an additional 12,530 shares during the last quarter. Wedge Capital Management L L P NC boosted its holdings in Royal Caribbean Cruises by 2.6% in 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 purchasing an additional 7,298 shares during the last quarter. Souders Financial Advisors bought a new stake in Royal Caribbean Cruises in the 3rd quarter worth approximately $800,000. Finally, Merit Financial Group LLC raised its stake in Royal Caribbean Cruises by 541.0% during the 4th quarter. Merit Financial Group LLC now owns 9,897 shares of the company’s stock valued at $2,283,000 after buying an additional 8,353 shares during the last quarter. Institutional investors own 87.53% of the company’s stock.

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.