Royal Caribbean Cruises (NYSE:RCL) Given New $300.00 Price Target at Macquarie

Royal Caribbean Cruises (NYSE:RCL) had its price objective lifted by Macquarie from $250.00 to $300.00 in a report released on Thursday morning,Benzinga reports. They currently have an outperform rating on the stock.

Several other equities analysts also recently weighed in on the company. Barclays boosted their target price on Royal Caribbean Cruises from $287.00 to $308.00 and gave the company an “overweight” rating in a research report on Wednesday. Argus increased their price objective on Royal Caribbean Cruises from $280.00 to $305.00 and gave the stock a “buy” rating in a research note on Wednesday. Stifel Nicolaus boosted their price target on shares of Royal Caribbean Cruises from $250.00 to $310.00 and gave the company a “buy” rating in a report on Friday, December 6th. Bank of America upped their price objective on Royal Caribbean Cruises from $210.00 to $240.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. Finally, Morgan Stanley raised 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 note on Wednesday, January 8th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Royal Caribbean Cruises has an average rating of “Moderate Buy” and an average target price of $274.19.

Royal Caribbean Cruises Stock Performance

NYSE:RCL opened at $274.94 on Thursday. The stock has a 50-day moving average price of $239.12 and a 200 day moving average price of $200.69. The company has a current ratio of 0.17, a quick ratio of 0.16 and a debt-to-equity ratio of 2.39. Royal Caribbean Cruises has a 12-month low of $113.10 and a 12-month high of $275.05. The stock has a market capitalization of $73.93 billion, a P/E ratio of 25.72, a P/E/G ratio of 0.55 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.50 by $0.13. Royal Caribbean Cruises had a net margin of 17.46% and a return on equity of 48.97%. During the same quarter in the previous year, the company earned $1.25 EPS. Equities research analysts forecast that Royal Caribbean Cruises will post 15 EPS for the current fiscal year.

Royal Caribbean Cruises Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Friday, December 27th were paid a $0.55 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.80%. Royal Caribbean Cruises’s payout ratio is 20.58%.

Insider Activity at Royal Caribbean Cruises

In other news, 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 sale, the executive vice president now directly owns 22,348 shares in the company, valued at $5,243,287.76. This trade represents a 12.72 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Arne Alexander Wilhelmsen sold 230,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $233.62, for a total value of $53,732,600.00. Following the completion of the sale, the director now directly owns 18,556,860 shares in the company, valued at approximately $4,335,253,633.20. The trade was a 1.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 372,609 shares of company stock worth $87,647,208. 7.95% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Royal Caribbean Cruises

Large investors have recently added to or reduced their stakes in the stock. Plato Investment Management Ltd purchased a new stake in Royal Caribbean Cruises during the 3rd quarter worth approximately $26,000. Safe Harbor Fiduciary LLC acquired a new position in shares of Royal Caribbean Cruises during the 3rd quarter valued at about $27,000. DiNuzzo Private Wealth Inc. grew its position in Royal Caribbean Cruises by 257.4% in the third quarter. DiNuzzo Private Wealth Inc. now owns 168 shares of the company’s stock worth $30,000 after acquiring an additional 121 shares during the period. LRI Investments LLC acquired a new position in shares of Royal Caribbean Cruises in the 3rd quarter worth approximately $31,000. Finally, Bay Harbor Wealth Management LLC acquired a new stake in shares of Royal Caribbean Cruises in the fourth quarter valued at $36,000. 87.53% of the stock is currently 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.