Royal Caribbean Cruises (NYSE:RCL) Given New $305.00 Price Target at Argus

Royal Caribbean Cruises (NYSE:RCL) had its target price lifted by Argus from $280.00 to $305.00 in a research report report published on Wednesday morning,Benzinga reports. Argus currently has a buy rating on the stock.

Several other brokerages have also issued reports on RCL. Stifel Nicolaus lifted their target price on shares of Royal Caribbean Cruises from $250.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Tigress Financial lifted their target price on shares of Royal Caribbean Cruises from $210.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. The Goldman Sachs Group dropped their target price on shares of Royal Caribbean Cruises from $275.00 to $270.00 and set a “buy” rating for the company in a research report on Friday, January 24th. StockNews.com upgraded shares of Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a research report on Tuesday, November 26th. Finally, Morgan Stanley lifted their target price on shares of Royal Caribbean Cruises from $190.00 to $210.00 and gave the company an “equal weight” rating in a research report on Wednesday, January 8th. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $271.06.

Royal Caribbean Cruises Price Performance

Shares of NYSE:RCL opened at $268.77 on Wednesday. The company has a 50-day moving average price of $238.47 and a two-hundred day moving average price of $200.21. The company has a quick ratio of 0.16, a current ratio of 0.19 and a debt-to-equity ratio of 2.63. Royal Caribbean Cruises has a twelve month low of $113.10 and a twelve month high of $271.31. The firm has a market capitalization of $72.27 billion, a PE ratio of 27.62, a P/E/G ratio of 0.50 and a beta of 2.59.

Royal Caribbean Cruises (NYSE:RCL) last released 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 net margin of 16.21% and a return on equity of 52.92%. During the same period last year, the company earned $1.25 earnings per share. Equities analysts forecast that Royal Caribbean Cruises will post 11.66 EPS for the current year.

Royal Caribbean Cruises Cuts Dividend

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

Insider Buying and Selling

In other Royal Caribbean Cruises news, Director Arne Alexander Wilhelmsen sold 230,000 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $233.62, for a total transaction of $53,732,600.00. Following the transaction, the director now directly owns 18,556,860 shares of the company’s stock, valued at approximately $4,335,253,633.20. The trade was a 1.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Harri U. Kulovaara sold 3,256 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $234.62, for a total transaction of $763,922.72. Following the transaction, the executive vice president now directly owns 22,348 shares in the company, valued at approximately $5,243,287.76. The trade was a 12.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 372,609 shares of company stock valued at $87,647,208 over the last three months. 7.95% of the stock is owned by company insiders.

Institutional Trading of Royal Caribbean Cruises

A number of hedge funds have recently modified their holdings of the business. D1 Capital Partners L.P. boosted its holdings in shares of Royal Caribbean Cruises by 3.8% during the 3rd quarter. D1 Capital Partners L.P. now owns 1,570,262 shares of the company’s stock valued at $278,502,000 after buying an additional 58,159 shares in the last quarter. Swiss National Bank boosted its holdings in shares of Royal Caribbean Cruises by 0.5% during the 3rd quarter. Swiss National Bank now owns 725,638 shares of the company’s stock valued at $128,699,000 after buying an additional 3,800 shares in the last quarter. Disciplined Growth Investors Inc. MN boosted its holdings in shares of Royal Caribbean Cruises by 2.3% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 591,552 shares of the company’s stock valued at $104,918,000 after buying an additional 13,520 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its holdings in shares of Royal Caribbean Cruises by 3.4% during the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 569,890 shares of the company’s stock valued at $131,468,000 after buying an additional 18,868 shares in the last quarter. Finally, International Assets Investment Management LLC boosted its holdings in shares of Royal Caribbean Cruises by 10,599.0% during the 3rd quarter. International Assets Investment Management LLC now owns 409,879 shares of the company’s stock valued at $72,696,000 after buying an additional 406,048 shares in the last quarter. Institutional investors own 87.53% of the company’s stock.

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.