Royal Caribbean Cruises (NYSE:RCL) Price Target Raised to $295.00

Royal Caribbean Cruises (NYSE:RCL) had its price objective hoisted by JPMorgan Chase & Co. from $253.00 to $295.00 in a research note released on Friday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other equities research analysts also recently issued reports on RCL. Morgan Stanley boosted their price objective on Royal Caribbean Cruises from $190.00 to $210.00 and gave the company an “equal weight” rating in a report on Wednesday, January 8th. Bank of America boosted their price target on shares of Royal Caribbean Cruises from $210.00 to $240.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. StockNews.com raised shares of Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a research note on Tuesday, November 26th. Wells Fargo & Company upped their target price on shares of Royal Caribbean Cruises from $180.00 to $232.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Finally, Barclays raised their price target on shares of 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 research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $246.50.

Royal Caribbean Cruises Trading Up 3.6 %

NYSE RCL opened at $241.79 on Friday. 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 stock has a market capitalization of $65.01 billion, a P/E ratio of 24.85, a PEG ratio of 0.48 and a beta of 2.59. The firm’s 50-day moving average is $237.01 and its two-hundred day moving average is $195.08. Royal Caribbean Cruises has a 12 month low of $113.10 and a 12 month high of $258.70.

Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $5.20 EPS for the quarter, topping the consensus estimate of $5.05 by $0.15. Royal Caribbean Cruises had a net margin of 16.21% and a return on equity of 52.92%. The firm had revenue of $4.89 billion for the quarter, compared to analyst estimates of $4.89 billion. During the same period in the prior year, the business posted $3.85 EPS. The business’s revenue for the quarter was up 17.5% compared to the same quarter last year. On average, sell-side analysts anticipate that Royal Caribbean Cruises will post 11.65 earnings per share for the current year.

Royal Caribbean Cruises Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders 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 0.91%. The ex-dividend date of this dividend was Friday, December 27th. Royal Caribbean Cruises’s dividend payout ratio (DPR) is 22.61%.

Insider Transactions at Royal Caribbean Cruises

In related news, Director Arne Alexander Wilhelmsen sold 230,000 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $233.62, for a total value of $53,732,600.00. Following the completion of the sale, the director now directly owns 18,556,860 shares of the company’s stock, valued at $4,335,253,633.20. The trade was a 1.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Harri U. Kulovaara sold 3,256 shares of the firm’s 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 transaction, the executive vice president now directly owns 22,348 shares in the company, valued at approximately $5,243,287.76. The trade was a 12.72 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 404,332 shares of company stock valued at $94,299,521. 7.95% of the stock is currently owned by corporate insiders.

Institutional Trading of Royal Caribbean Cruises

Several institutional investors and hedge funds have recently made changes to their positions in the company. D1 Capital Partners L.P. grew its stake in Royal Caribbean Cruises by 3.8% during the 3rd quarter. D1 Capital Partners L.P. now owns 1,570,262 shares of the company’s stock worth $278,502,000 after buying an additional 58,159 shares during the last quarter. Swiss National Bank boosted its holdings in shares of Royal Caribbean Cruises by 0.5% in the third quarter. Swiss National Bank now owns 725,638 shares of the company’s stock valued at $128,699,000 after acquiring an additional 3,800 shares during the period. Disciplined Growth Investors Inc. MN grew its position in shares of Royal Caribbean Cruises by 2.3% during the third quarter. Disciplined Growth Investors Inc. MN now owns 591,552 shares of the company’s stock worth $104,918,000 after acquiring an additional 13,520 shares during the last quarter. APG Asset Management N.V. increased its holdings in shares of Royal Caribbean Cruises by 4.0% in the 2nd quarter. APG Asset Management N.V. now owns 461,762 shares of the company’s stock valued at $68,690,000 after acquiring an additional 17,601 shares during the period. Finally, International Assets Investment Management LLC raised its position in Royal Caribbean Cruises by 10,599.0% in the 3rd quarter. International Assets Investment Management LLC now owns 409,879 shares of the company’s stock valued at $72,696,000 after purchasing an additional 406,048 shares during the last quarter. 87.53% of the stock is owned by hedge funds and other 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.