Royal Caribbean Cruises Ltd. (NYSE:RCL) Given Average Rating of “Moderate Buy” by Brokerages

Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) have been assigned an average rating of “Moderate Buy” from the seventeen ratings firms that are presently covering the stock, Marketbeat reports. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. The average twelve-month target price among analysts that have issued ratings on the stock in the last year is $283.53.

RCL has been the topic of a number of research reports. Bank of America upped their price objective on Royal Caribbean Cruises from $210.00 to $240.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. Susquehanna reduced their target price on Royal Caribbean Cruises from $305.00 to $295.00 and set a “positive” rating on the stock in a report on Wednesday. JPMorgan Chase & Co. increased their target price on Royal Caribbean Cruises from $253.00 to $295.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Truist Financial increased their target price on Royal Caribbean Cruises from $204.00 to $272.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Finally, UBS Group increased their target price on Royal Caribbean Cruises from $271.00 to $301.00 and gave the stock a “buy” rating in a report on Tuesday, February 4th.

Royal Caribbean Cruises Stock Down 7.0 %

RCL opened at $215.08 on Friday. The company has a current ratio of 0.17, a quick ratio of 0.15 and a debt-to-equity ratio of 2.39. The stock’s fifty day simple moving average is $243.90 and its 200 day simple moving average is $217.48. Royal Caribbean Cruises has a 1-year low of $124.24 and a 1-year high of $277.08. The stock has a market cap of $57.88 billion, a PE ratio of 20.12, a price-to-earnings-growth ratio of 0.90 and a beta of 2.53.

Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $1.63 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.13. Royal Caribbean Cruises had a return on equity of 48.97% and a net margin of 17.46%. During the same period last year, the business posted $1.25 EPS. As a group, research analysts expect that Royal Caribbean Cruises will post 14.9 earnings per share for the current year.

Royal Caribbean Cruises Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 7th will be given a $0.75 dividend. The ex-dividend date of this dividend is Friday, March 7th. This is an increase from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. This represents a $3.00 annualized dividend and a yield of 1.39%. Royal Caribbean Cruises’s dividend payout ratio (DPR) is currently 28.06%.

Royal Caribbean Cruises declared that its board has approved a stock repurchase plan on Wednesday, February 12th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to repurchase up to 1.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its shares are undervalued.

Insider Buying and Selling at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, Director Richard D. Fain sold 19,500 shares of the stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $256.68, for a total value of $5,005,260.00. Following the completion of the transaction, the director now directly owns 185,021 shares in the company, valued at approximately $47,491,190.28. This trade represents a 9.53 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jason T. Liberty sold 58,000 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $261.95, for a total value of $15,193,100.00. Following the completion of the transaction, the chief executive officer now owns 143,214 shares of the company’s stock, valued at $37,514,907.30. This represents a 28.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 109,492 shares of company stock worth $28,571,705. 7.95% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Royal Caribbean Cruises

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Venturi Wealth Management LLC raised its holdings in Royal Caribbean Cruises by 511.0% during the 4th quarter. Venturi Wealth Management LLC now owns 2,157 shares of the company’s stock worth $498,000 after purchasing an additional 1,804 shares during the last quarter. Park Avenue Securities LLC raised its stake in Royal Caribbean Cruises by 20.1% during the fourth quarter. Park Avenue Securities LLC now owns 6,630 shares of the company’s stock worth $1,530,000 after buying an additional 1,111 shares during the last quarter. Sanctuary Advisors LLC lifted its holdings in Royal Caribbean Cruises by 76.1% in the third quarter. Sanctuary Advisors LLC now owns 28,991 shares of the company’s stock valued at $5,142,000 after buying an additional 12,530 shares during the period. Lorne Steinberg Wealth Management Inc. acquired a new stake in Royal Caribbean Cruises during the 4th quarter worth about $231,000. Finally, Principal Financial Group Inc. raised its position in shares of Royal Caribbean Cruises by 2.7% in the 4th quarter. Principal Financial Group Inc. now owns 291,027 shares of the company’s stock worth $67,137,000 after acquiring an additional 7,740 shares in the last quarter. 87.53% of the stock is owned by institutional investors and hedge funds.

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.