Brokerages Set Royal Caribbean Cruises Ltd. (NYSE:RCL) PT at $239.75

Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) have been assigned a consensus recommendation of “Moderate Buy” from the sixteen brokerages that are currently covering the company, MarketBeat reports. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The average 1-year target price among brokerages that have updated their coverage on the stock in the last year is $239.75.

Several research firms recently commented on RCL. Bank of America raised their target price on Royal Caribbean Cruises from $210.00 to $240.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. Sanford C. Bernstein assumed coverage on Royal Caribbean Cruises in a report on Tuesday, November 26th. They set an “outperform” rating and a $290.00 price objective for the company. Truist Financial upped their target price on shares of Royal Caribbean Cruises from $204.00 to $272.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Macquarie lifted their price target on shares of Royal Caribbean Cruises from $189.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, StockNews.com raised shares of Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a research note on Tuesday, November 26th.

Royal Caribbean Cruises Trading Up 3.3 %

Shares of RCL stock opened at $238.43 on Friday. The firm has a fifty day moving average of $227.13 and a 200-day moving average of $185.17. The stock has a market cap of $64.11 billion, a price-to-earnings ratio of 24.50, a P/E/G ratio of 0.65 and a beta of 2.59. Royal Caribbean Cruises has a 52-week low of $113.10 and a 52-week high of $258.70. The company has a debt-to-equity ratio of 2.63, a quick ratio of 0.16 and a current ratio of 0.19.

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

Royal Caribbean Cruises Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Friday, December 27th will be given a dividend of $0.55 per share. The ex-dividend date is Friday, December 27th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.92%. Royal Caribbean Cruises’s payout ratio is currently 22.61%.

Insider Activity at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, Director Richard D. Fain sold 25,000 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $210.02, for a total transaction of $5,250,500.00. Following the completion of the sale, the director now owns 204,521 shares in the company, valued at approximately $42,953,500.42. The trade was a 10.89 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Arne Alexander Wilhelmsen sold 139,353 shares of the stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $237.89, for a total value of $33,150,685.17. Following the completion of the transaction, the director now directly owns 18,167,507 shares in the company, valued at approximately $4,321,868,240.23. This trade represents a 0.76 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 404,332 shares of company stock worth $94,299,521 over the last 90 days. Insiders own 7.95% of the company’s stock.

Institutional Investors Weigh In On Royal Caribbean Cruises

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RCL. Plato Investment Management Ltd bought a new position in Royal Caribbean Cruises during the third quarter worth about $26,000. Unique Wealth Strategies LLC bought a new position in Royal Caribbean Cruises during the 2nd quarter worth approximately $27,000. Safe Harbor Fiduciary LLC acquired a new position in Royal Caribbean Cruises during the third quarter valued at approximately $27,000. DiNuzzo Private Wealth Inc. grew its holdings in Royal Caribbean Cruises by 257.4% during the third 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. Finally, LRI Investments LLC bought a new stake in Royal Caribbean Cruises in the third quarter valued at approximately $31,000. 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.