Royal Caribbean Cruises Ltd. (NYSE:RCL) Plans $0.55 Quarterly Dividend

Royal Caribbean Cruises Ltd. (NYSE:RCL) announced a quarterly dividend on Wednesday, December 11th,RTT News reports. Shareholders of record on Friday, December 27th will be given a dividend of 0.55 per share on Monday, January 13th. This represents a $2.20 annualized dividend and a yield of 0.90%. The ex-dividend date of this dividend is Friday, December 27th.

Royal Caribbean Cruises has a payout ratio of 11.1% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Royal Caribbean Cruises to earn $14.42 per share next year, which means the company should continue to be able to cover its $1.60 annual dividend with an expected future payout ratio of 11.1%.

Royal Caribbean Cruises Stock Down 0.6 %

RCL opened at $244.16 on Friday. The business’s 50-day moving average price is $219.63 and its 200-day moving average price is $180.79. The company has a current ratio of 0.19, a quick ratio of 0.16 and a debt-to-equity ratio of 2.63. Royal Caribbean Cruises has a 12 month low of $113.10 and a 12 month high of $258.70. The company has a market cap of $65.65 billion, a P/E ratio of 25.09, a P/E/G ratio of 0.65 and a beta of 2.59.

Royal Caribbean Cruises (NYSE:RCL) last issued its earnings results on Tuesday, October 29th. The company reported $5.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.05 by $0.15. Royal Caribbean Cruises had a net margin of 16.21% and a return on equity of 52.92%. The firm had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $4.89 billion. During the same quarter last year, the business earned $3.85 earnings per share. The business’s revenue was up 17.5% on a year-over-year basis. On average, equities analysts expect that Royal Caribbean Cruises will post 11.65 EPS for the current year.

Insider Buying and Selling

In other news, EVP Harri U. Kulovaara sold 3,256 shares of Royal Caribbean Cruises stock in a transaction that occurred on Wednesday, November 20th. The shares were 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 directly owns 22,348 shares in the company, valued at $5,243,287.76. The trade was a 12.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Henry L. Pujol sold 6,723 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $208.51, for a total transaction of $1,401,812.73. Following the transaction, the chief accounting officer now owns 9,964 shares in the company, valued at approximately $2,077,593.64. This trade represents a 40.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 404,332 shares of company stock worth $94,299,521 in the last three months. Insiders own 7.95% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. StockNews.com raised Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a research note on Tuesday, November 26th. Barclays lifted their price target on shares of Royal Caribbean Cruises from $244.00 to $245.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Citigroup lifted their target price on shares of Royal Caribbean Cruises from $257.00 to $283.00 and gave the company a “buy” rating in a research note on Wednesday. Bank of America lifted their price objective on Royal Caribbean Cruises from $210.00 to $240.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Finally, Wells Fargo & Company increased their target price on Royal Caribbean Cruises from $180.00 to $232.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, Royal Caribbean Cruises currently has an average rating of “Moderate Buy” and an average target price of $237.13.

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.