Royal Caribbean Cruises (NYSE:RCL) Price Target Raised to $330.00 at Tigress Financial

Royal Caribbean Cruises (NYSE:RCL) had its price target lifted by Tigress Financial from $270.00 to $330.00 in a research report sent to investors on Friday,Benzinga reports. Tigress Financial currently has a buy rating on the stock.

Several other research firms have also recently weighed in on RCL. The Goldman Sachs Group dropped their price objective on Royal Caribbean Cruises from $275.00 to $270.00 and set a “buy” rating for the company in a report on Friday, January 24th. Loop Capital initiated coverage on Royal Caribbean Cruises in a research note on Tuesday. They issued a “hold” rating and a $250.00 price target for the company. Stifel Nicolaus boosted 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 report on Friday, December 6th. Sanford C. Bernstein began coverage on shares of Royal Caribbean Cruises in a research report on Tuesday, November 26th. They issued an “outperform” rating and a $290.00 target price for the company. Finally, Wells Fargo & Company boosted their price target on shares of Royal Caribbean Cruises from $232.00 to $272.00 and gave the company an “overweight” rating in a research report on Monday, January 27th. Four equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $284.12.

Royal Caribbean Cruises Price Performance

RCL opened at $264.39 on Friday. The firm has a market cap of $71.09 billion, a price-to-earnings ratio of 24.73, a PEG ratio of 1.00 and a beta of 2.59. Royal Caribbean Cruises has a 1 year low of $113.10 and a 1 year high of $277.08. The company has a debt-to-equity ratio of 2.39, a current ratio of 0.17 and a quick ratio of 0.15. The stock’s 50 day simple moving average is $242.24 and its 200 day simple moving average is $204.62.

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, topping analysts’ consensus estimates 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 firm posted $1.25 EPS. As a group, analysts predict that Royal Caribbean Cruises will post 14.96 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. Shareholders of record on Friday, December 27th were issued a $0.55 dividend. The ex-dividend date was Friday, December 27th. This represents a $2.20 annualized dividend and a yield of 0.83%. Royal Caribbean Cruises’s dividend payout ratio (DPR) is presently 20.58%.

Insider Transactions at Royal Caribbean Cruises

In other news, Director Arne Alexander Wilhelmsen sold 230,000 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $233.62, for a total transaction of $53,732,600.00. Following the transaction, the director now directly owns 18,556,860 shares of the company’s stock, valued at $4,335,253,633.20. This represents a 1.22 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Harri U. Kulovaara sold 3,256 shares of Royal Caribbean Cruises 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 sale, the executive vice president now owns 22,348 shares of the company’s stock, valued at $5,243,287.76. The trade was a 12.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 372,609 shares of company stock worth $87,647,208. Corporate insiders own 7.95% of the company’s stock.

Hedge Funds Weigh In On Royal Caribbean Cruises

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Plato Investment Management Ltd bought a new position in Royal Caribbean Cruises in the 3rd quarter worth $26,000. Safe Harbor Fiduciary LLC bought a new position in shares of Royal Caribbean Cruises in the third quarter worth about $27,000. DiNuzzo Private Wealth Inc. raised its stake in Royal Caribbean Cruises by 257.4% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 168 shares of the company’s stock valued at $30,000 after purchasing an additional 121 shares during the period. LRI Investments LLC purchased a new position in Royal Caribbean Cruises in the 3rd quarter worth approximately $31,000. Finally, Bay Harbor Wealth Management LLC bought a new position in Royal Caribbean Cruises in the 4th quarter worth approximately $36,000. Hedge funds and other 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.