Barclays Forecasts Strong Price Appreciation for Royal Caribbean Cruises (NYSE:RCL) Stock

Royal Caribbean Cruises (NYSE:RCL) had its target price increased by Barclays from $287.00 to $308.00 in a research note released on Wednesday morning,Benzinga reports. They currently have an overweight rating on the stock.

Several other research analysts also recently issued reports on RCL. Citigroup upped their price objective on Royal Caribbean Cruises from $283.00 to $304.00 and gave the stock a “buy” rating in a report on Wednesday. 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 target price for the company. Morgan Stanley increased their price objective on shares of Royal Caribbean Cruises from $190.00 to $210.00 and gave the stock an “equal weight” rating in a research note on Wednesday, January 8th. Macquarie raised their target price on shares of Royal Caribbean Cruises from $189.00 to $250.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Stifel Nicolaus raised their price objective on shares of Royal Caribbean Cruises from $250.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $271.06.

Royal Caribbean Cruises Trading Up 1.3 %

Shares of RCL opened at $268.77 on Wednesday. Royal Caribbean Cruises has a 12-month low of $113.10 and a 12-month high of $271.31. The company has a quick ratio of 0.16, a current ratio of 0.19 and a debt-to-equity ratio of 2.63. The firm has a market capitalization of $72.27 billion, a price-to-earnings ratio of 27.62, a P/E/G ratio of 0.50 and a beta of 2.59. The stock’s 50-day moving average price is $238.47 and its 200 day moving average price is $200.21.

Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate 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 quarter last year, the business earned $1.25 EPS. As a group, research analysts predict that Royal Caribbean Cruises will post 11.66 earnings per share for the current year.

Royal Caribbean Cruises Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Friday, December 27th were paid a dividend of $0.55 per share. The ex-dividend date was Friday, December 27th. This represents a $2.20 dividend on an annualized basis and a yield of 0.82%. Royal Caribbean Cruises’s dividend payout ratio is currently 22.61%.

Insider Activity

In other news, 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 sale, the director now owns 18,167,507 shares of the company’s stock, valued at approximately $4,321,868,240.23. This represents a 0.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Harri U. Kulovaara sold 3,256 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $234.62, for a total transaction of $763,922.72. Following the completion of the transaction, the executive vice president now directly owns 22,348 shares in the company, valued at $5,243,287.76. This represents a 12.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 372,609 shares of company stock valued at $87,647,208 over the last three months. Insiders own 7.95% of the company’s stock.

Institutional Trading of Royal Caribbean Cruises

Institutional investors have recently modified their holdings of the company. Public Sector Pension Investment Board boosted its stake in Royal Caribbean Cruises by 93.4% in the 2nd quarter. Public Sector Pension Investment Board now owns 8,127 shares of the company’s stock worth $1,296,000 after purchasing an additional 3,925 shares in the last quarter. NewEdge Advisors LLC grew its stake in Royal Caribbean Cruises by 144.4% in the 2nd quarter. NewEdge Advisors LLC now owns 14,115 shares of the company’s stock valued at $2,250,000 after acquiring an additional 8,340 shares during the period. EP Wealth Advisors LLC acquired a new stake in Royal Caribbean Cruises in the 2nd quarter valued at $260,000. Truist Financial Corp boosted its stake in Royal Caribbean Cruises by 19.2% during the 2nd quarter. Truist Financial Corp now owns 20,958 shares of the company’s stock worth $3,341,000 after purchasing an additional 3,369 shares during the last quarter. Finally, Granite Bay Wealth Management LLC acquired a new position in shares of Royal Caribbean Cruises during the 2nd quarter valued at about $253,000. 87.53% of the stock is currently owned by institutional investors.

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.