Brokerages Set Royal Caribbean Cruises Ltd. (NYSE:RCL) PT at $276.90

Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) have been given an average recommendation of “Moderate Buy” by the twenty-one research firms that are covering the firm, MarketBeat Ratings reports. Three analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $276.90.

RCL has been the subject of several recent analyst reports. Morgan Stanley upped their target price on Royal Caribbean Cruises from $220.00 to $230.00 and gave the company an “equal weight” rating in a report on Tuesday, May 6th. Jefferies Financial Group started coverage on shares of Royal Caribbean Cruises in a report on Monday, March 31st. They set a “hold” rating and a $230.00 price objective for the company. Truist Financial raised their price objective on shares of Royal Caribbean Cruises from $272.00 to $275.00 and gave the stock a “buy” rating in a report on Monday, May 19th. Melius Research upgraded shares of Royal Caribbean Cruises to a “strong-buy” rating in a report on Monday, April 21st. Finally, Barclays raised their price objective on shares of Royal Caribbean Cruises from $249.00 to $263.00 and gave the stock an “overweight” rating in a report on Wednesday, April 30th.

Insiders Place Their Bets

In other news, Director Richard D. Fain sold 19,600 shares of the firm’s stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $253.10, for a total value of $4,960,760.00. Following the completion of the transaction, the director now directly owns 165,421 shares in the company, valued at approximately $41,868,055.10. This trade represents a 10.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 6.95% of the company’s stock.

Hedge Funds Weigh In On Royal Caribbean Cruises

Large investors have recently modified their holdings of the company. Brown Brothers Harriman & Co. boosted its position in shares of Royal Caribbean Cruises by 618.8% in the fourth quarter. Brown Brothers Harriman & Co. now owns 115 shares of the company’s stock valued at $27,000 after acquiring an additional 99 shares during the period. Financial Gravity Asset Management Inc. bought a new position in shares of Royal Caribbean Cruises in the first quarter valued at approximately $25,000. Hughes Financial Services LLC purchased a new position in Royal Caribbean Cruises during the first quarter worth about $26,000. Fourth Dimension Wealth LLC purchased a new position in Royal Caribbean Cruises during the fourth quarter worth about $35,000. Finally, Optimum Investment Advisors purchased a new position in Royal Caribbean Cruises during the first quarter worth about $31,000. 87.53% of the stock is currently owned by institutional investors.

Royal Caribbean Cruises Price Performance

RCL opened at $265.53 on Friday. 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 company has a market capitalization of $72.11 billion, a price-to-earnings ratio of 24.84, a P/E/G ratio of 0.90 and a beta of 2.14. The firm’s fifty day moving average price is $230.76 and its two-hundred day moving average price is $233.88. Royal Caribbean Cruises has a 1 year low of $130.08 and a 1 year high of $279.89.

Royal Caribbean Cruises (NYSE:RCL) last released its earnings results on Tuesday, April 29th. The company reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.18. The company had revenue of $4 billion during the quarter, compared to analyst estimates of $4.02 billion. Royal Caribbean Cruises had a return on equity of 48.97% and a net margin of 17.46%. Royal Caribbean Cruises’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period in the prior year, the company posted $1.77 earnings per share. As a group, analysts anticipate that Royal Caribbean Cruises will post 14.9 earnings per share for the current fiscal year.

Royal Caribbean Cruises Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 4th will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.13%. Royal Caribbean Cruises’s dividend payout ratio is currently 24.92%.

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.