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

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

Several other brokerages have also issued reports on RCL. The Goldman Sachs Group dropped their target price on shares of Royal Caribbean Cruises from $275.00 to $270.00 and set a “buy” rating for the company in a research report on Friday, January 24th. Stifel Nicolaus lifted their price objective on shares of Royal Caribbean Cruises from $250.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Barclays increased their target price on Royal Caribbean Cruises from $245.00 to $287.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Macquarie lifted their price target on Royal Caribbean Cruises from $189.00 to $250.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Finally, JPMorgan Chase & Co. increased their price objective on Royal Caribbean Cruises from $253.00 to $295.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Royal Caribbean Cruises currently has an average rating of “Moderate Buy” and a consensus target price of $271.06.

Royal Caribbean Cruises Stock Performance

NYSE RCL opened at $268.77 on Monday. The company’s 50 day simple moving average is $238.47 and its two-hundred day simple moving average is $200.21. The company has a debt-to-equity ratio of 2.63, a current ratio of 0.19 and a quick ratio of 0.16. Royal Caribbean Cruises has a 1 year low of $113.10 and a 1 year high of $271.31. The stock has a market capitalization of $72.27 billion, a PE ratio of 27.62, a P/E/G ratio of 0.50 and a beta of 2.59.

Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings data 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 return on equity of 52.92% and a net margin of 16.21%. During the same period in the prior year, the firm earned $1.25 EPS. Analysts predict that Royal Caribbean Cruises will post 11.66 earnings per share for the current fiscal year.

Royal Caribbean Cruises Cuts Dividend

The company also recently declared 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. The ex-dividend date was Friday, December 27th. This represents a $2.20 dividend on an annualized basis and a yield of 0.82%. Royal Caribbean Cruises’s dividend payout ratio is currently 22.61%.

Insider Buying and Selling at Royal Caribbean Cruises

In related 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 in the company, valued at $5,243,287.76. This represents a 12.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Arne Alexander Wilhelmsen sold 230,000 shares of Royal Caribbean Cruises stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $233.62, for a total transaction of $53,732,600.00. Following the completion of the sale, the director now owns 18,556,860 shares in the company, valued at approximately $4,335,253,633.20. This trade represents a 1.22 % 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 quarter. Company insiders own 7.95% of the company’s stock.

Institutional Investors Weigh In On Royal Caribbean Cruises

Several institutional investors and hedge funds have recently modified their holdings of the stock. Public Sector Pension Investment Board raised its stake in Royal Caribbean Cruises by 93.4% in the second quarter. Public Sector Pension Investment Board now owns 8,127 shares of the company’s stock worth $1,296,000 after buying an additional 3,925 shares in the last quarter. NewEdge Advisors LLC grew its holdings in shares of Royal Caribbean Cruises by 144.4% during the 2nd quarter. NewEdge Advisors LLC now owns 14,115 shares of the company’s stock worth $2,250,000 after acquiring an additional 8,340 shares during the period. EP Wealth Advisors LLC purchased a new position in shares of Royal Caribbean Cruises in the 2nd quarter valued at approximately $260,000. Hershey Financial Advisers LLC bought a new stake in shares of Royal Caribbean Cruises during the second quarter valued at approximately $1,595,000. Finally, HWG Holdings LP bought a new stake in shares of Royal Caribbean Cruises during the second quarter valued at approximately $69,000. 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.