Sanford C. Bernstein Issues Positive Forecast for Royal Caribbean Cruises (NYSE:RCL) Stock Price

Royal Caribbean Cruises (NYSE:RCL) had its price target upped by Sanford C. Bernstein from $290.00 to $360.00 in a research note issued to investors on Wednesday,Benzinga reports. Sanford C. Bernstein currently has an outperform rating on the stock.

A number of other equities research analysts also recently weighed in on RCL. Barclays lifted their target price on Royal Caribbean Cruises from $249.00 to $263.00 and gave the stock an “overweight” rating in a report on Wednesday, April 30th. Wall Street Zen downgraded shares of Royal Caribbean Cruises from a “buy” rating to a “hold” rating in a report on Saturday, June 28th. Northcoast Research assumed coverage on shares of Royal Caribbean Cruises in a research report on Friday, April 25th. They set a “buy” rating and a $279.00 target price on the stock. Morgan Stanley lifted their price target on shares of Royal Caribbean Cruises from $220.00 to $230.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 6th. Finally, Jefferies Financial Group initiated coverage on Royal Caribbean Cruises in a research note on Monday, March 31st. They issued a “hold” rating and a $230.00 price target for the company. Four research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $280.40.

Royal Caribbean Cruises Stock Up 3.5%

Shares of RCL opened at $326.17 on Wednesday. The firm has a market cap of $88.57 billion, a P/E ratio of 27.09, a price-to-earnings-growth ratio of 0.94 and a beta of 2.17. The company has a debt-to-equity ratio of 2.21, a quick ratio of 0.15 and a current ratio of 0.18. Royal Caribbean Cruises has a 52 week low of $130.08 and a 52 week high of $326.84. The firm’s 50-day simple moving average is $256.19 and its 200 day simple moving average is $237.62.

Royal Caribbean Cruises (NYSE:RCL) last posted its earnings results on Tuesday, April 29th. The company reported $2.71 EPS for the quarter, beating the consensus estimate of $2.53 by $0.18. The company had revenue of $4 billion for the quarter, compared to the consensus estimate of $4.02 billion. Royal Caribbean Cruises had a return on equity of 47.89% and a net margin of 19.38%. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.77 earnings per share. On average, analysts forecast that Royal Caribbean Cruises will post 14.9 earnings per share for the current year.

Royal Caribbean Cruises Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 4th will be paid a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 0.92%. Royal Caribbean Cruises’s payout ratio is 24.92%.

Insider Activity at Royal Caribbean Cruises

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 sale, the director directly owned 165,421 shares in the company, valued at approximately $41,868,055.10. This trade represents a 10.59% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 6.95% of the company’s stock.

Hedge Funds Weigh In On Royal Caribbean Cruises

A number of institutional investors have recently added to or reduced their stakes in the stock. Financial Gravity Asset Management Inc. bought a new stake in shares of Royal Caribbean Cruises during the first quarter worth $25,000. Hughes Financial Services LLC bought a new position in shares of Royal Caribbean Cruises in the 1st quarter valued at $26,000. Brown Brothers Harriman & Co. boosted its holdings in shares of Royal Caribbean Cruises by 618.8% during the 4th quarter. Brown Brothers Harriman & Co. now owns 115 shares of the company’s stock valued at $27,000 after acquiring an additional 99 shares in the last quarter. Optimum Investment Advisors bought a new stake in Royal Caribbean Cruises during the 1st quarter worth $31,000. Finally, Fourth Dimension Wealth LLC bought a new stake in Royal Caribbean Cruises during the 4th quarter worth $35,000. 87.53% of the stock is currently owned by institutional investors and hedge funds.

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.