OLD National Bancorp IN Takes Position in Royal Caribbean Cruises Ltd. $RCL

OLD National Bancorp IN purchased a new stake in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) in the 2nd quarter, HoldingsChannel reports. The institutional investor purchased 1,486 shares of the company’s stock, valued at approximately $465,000.

Several other hedge funds and other institutional investors also recently modified their holdings of RCL. Nuveen LLC acquired a new position in shares of Royal Caribbean Cruises during the first quarter valued at $358,614,000. Vanguard Group Inc. raised its stake in shares of Royal Caribbean Cruises by 2.1% during the first quarter. Vanguard Group Inc. now owns 28,674,763 shares of the company’s stock valued at $5,890,943,000 after purchasing an additional 602,447 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of Royal Caribbean Cruises by 21.8% during the first quarter. Bank of New York Mellon Corp now owns 2,991,079 shares of the company’s stock valued at $614,487,000 after purchasing an additional 535,043 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its stake in shares of Royal Caribbean Cruises by 179.2% during the first quarter. Adage Capital Partners GP L.L.C. now owns 645,200 shares of the company’s stock valued at $132,550,000 after purchasing an additional 414,100 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in shares of Royal Caribbean Cruises by 112.9% during the first quarter. Ameriprise Financial Inc. now owns 566,273 shares of the company’s stock valued at $116,396,000 after purchasing an additional 300,232 shares in the last quarter. Institutional investors and hedge funds own 87.53% of the company’s stock.

Royal Caribbean Cruises Price Performance

Shares of Royal Caribbean Cruises stock opened at $314.56 on Wednesday. The company’s 50-day moving average price is $330.46 and its two-hundred day moving average price is $283.46. The company has a current ratio of 0.23, a quick ratio of 0.21 and a debt-to-equity ratio of 1.88. The stock has a market cap of $85.44 billion, a PE ratio of 23.58, a price-to-earnings-growth ratio of 0.89 and a beta of 2.08. Royal Caribbean Cruises Ltd. has a 52 week low of $164.01 and a 52 week high of $366.50.

Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings data on Tuesday, July 29th. The company reported $4.38 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.04 by $0.34. The firm had revenue of $4.54 billion for the quarter, compared to the consensus estimate of $4.54 billion. Royal Caribbean Cruises had a return on equity of 47.15% and a net margin of 20.97%.The business’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.21 EPS. Royal Caribbean Cruises has set its FY 2025 guidance at 15.410-15.550 EPS. Q3 2025 guidance at 5.550-5.650 EPS. As a group, sell-side analysts anticipate that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current fiscal year.

Royal Caribbean Cruises Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 13th. Shareholders of record on Thursday, September 25th will be issued a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 1.3%. The ex-dividend date is Thursday, September 25th. This is a boost from Royal Caribbean Cruises’s previous quarterly dividend of $0.75. Royal Caribbean Cruises’s dividend payout ratio is presently 29.99%.

Insiders Place Their Bets

In other Royal Caribbean Cruises news, Director Richard D. Fain sold 16,000 shares of the business’s stock in a transaction dated Wednesday, August 6th. The stock was sold at an average price of $311.02, for a total transaction of $4,976,320.00. Following the sale, the director owned 150,291 shares in the company, valued at approximately $46,743,506.82. The trade was a 9.62% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Henry L. Pujol sold 5,207 shares of Royal Caribbean Cruises stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $329.47, for a total value of $1,715,550.29. Following the transaction, the chief accounting officer directly owned 7,826 shares in the company, valued at approximately $2,578,432.22. This trade represents a 39.95% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 31,507 shares of company stock worth $10,091,282. Company insiders own 6.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on RCL. Wall Street Zen upgraded shares of Royal Caribbean Cruises from a “hold” rating to a “buy” rating in a research note on Friday, September 26th. TD Cowen began coverage on shares of Royal Caribbean Cruises in a research note on Tuesday, July 22nd. They set a “buy” rating and a $405.00 price objective on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Royal Caribbean Cruises from $302.00 to $367.00 and gave the company an “overweight” rating in a research note on Wednesday, July 30th. Weiss Ratings reiterated a “buy (b)” rating on shares of Royal Caribbean Cruises in a research report on Saturday, September 27th. Finally, Bank of America boosted their price target on shares of Royal Caribbean Cruises from $230.00 to $355.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 23rd. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $326.95.

Royal Caribbean Cruises 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.