Royal Caribbean Cruises (NYSE:RCL) Price Target Raised to $308.00 at Barclays

Royal Caribbean Cruises (NYSE:RCL) had its price objective lifted by Barclays from $287.00 to $308.00 in a report issued on Wednesday morning,Benzinga reports. The firm currently has an overweight rating on the stock.

RCL has been the subject of a number of other reports. Sanford C. Bernstein started coverage on Royal Caribbean Cruises in a report on Tuesday, November 26th. They issued an “outperform” rating and a $290.00 price objective for the company. Bank of America increased their price target on Royal Caribbean Cruises from $210.00 to $240.00 and gave the company a “neutral” rating in a research note on Wednesday, November 13th. Citigroup increased their price target on Royal Caribbean Cruises from $283.00 to $304.00 and gave the company a “buy” rating in a research note on Wednesday. Morgan Stanley increased their price target on Royal Caribbean Cruises from $190.00 to $210.00 and gave the company an “equal weight” rating in a research note on Wednesday, January 8th. Finally, Mizuho reaffirmed an “outperform” rating and set a $253.00 price target (down from $255.00) on shares of Royal Caribbean Cruises in a research note on Thursday, January 23rd. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $271.06.

Royal Caribbean Cruises Stock Up 1.3 %

Shares of Royal Caribbean Cruises stock opened at $268.77 on Wednesday. The company has a current ratio of 0.19, a quick ratio of 0.16 and a debt-to-equity ratio of 2.63. The business’s 50 day simple moving average is $238.47 and its 200-day simple moving average is $200.21. The stock has a market capitalization of $72.27 billion, a price-to-earnings ratio of 27.62, a PEG ratio of 0.50 and a beta of 2.59. Royal Caribbean Cruises has a twelve month low of $113.10 and a twelve month high of $271.31.

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 last year, the business posted $1.25 earnings per share. Equities research analysts forecast that Royal Caribbean Cruises will post 11.66 earnings per share for the current year.

Royal Caribbean Cruises Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Friday, December 27th were given a $0.55 dividend. The ex-dividend date was Friday, December 27th. This represents a $2.20 annualized dividend and a dividend yield of 0.82%. Royal Caribbean Cruises’s dividend payout ratio (DPR) is presently 22.61%.

Insider Transactions at Royal Caribbean Cruises

In other news, EVP Harri U. Kulovaara sold 3,256 shares of the firm’s stock in a transaction on 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. This trade represents a 12.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. 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 value of $53,732,600.00. Following the sale, the director now directly owns 18,556,860 shares of the company’s stock, valued at approximately $4,335,253,633.20. The trade was a 1.22 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 372,609 shares of company stock valued at $87,647,208 over the last quarter. Company insiders own 7.95% of the company’s stock.

Institutional Trading of Royal Caribbean Cruises

Institutional investors have recently bought and sold shares of the company. D1 Capital Partners L.P. lifted its position in shares of Royal Caribbean Cruises by 3.8% in the third 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 lifted its position 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 worth $128,699,000 after buying an additional 3,800 shares during the last quarter. Disciplined Growth Investors Inc. MN increased its stake in shares of Royal Caribbean Cruises by 2.3% in the third quarter. Disciplined Growth Investors Inc. MN now owns 591,552 shares of the company’s stock worth $104,918,000 after purchasing an additional 13,520 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Royal Caribbean Cruises by 3.4% in the fourth quarter. Sumitomo Mitsui Trust Group Inc. now owns 569,890 shares of the company’s stock worth $131,468,000 after purchasing an additional 18,868 shares during the period. Finally, International Assets Investment Management LLC increased its stake in shares of Royal Caribbean Cruises by 10,599.0% in the third quarter. International Assets Investment Management LLC now owns 409,879 shares of the company’s stock worth $72,696,000 after purchasing an additional 406,048 shares during the period. Institutional investors and hedge funds 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.