Royal Caribbean Cruises Ltd. (NYSE:RCL) CEO Sells $819,000.00 in Stock

Royal Caribbean Cruises Ltd. (NYSE:RCL) CEO Michael W. Bayley sold 7,800 shares of the company’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $105.00, for a total value of $819,000.00. Following the completion of the transaction, the chief executive officer now directly owns 94,391 shares of the company’s stock, valued at approximately $9,911,055. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Royal Caribbean Cruises Trading Up 0.3 %

NYSE RCL opened at $105.81 on Tuesday. The business has a 50 day simple moving average of $91.38 and a 200 day simple moving average of $93.83. Royal Caribbean Cruises Ltd. has a one year low of $47.91 and a one year high of $112.95. The stock has a market capitalization of $27.11 billion, a P/E ratio of 33.07 and a beta of 2.45. The company has a debt-to-equity ratio of 3.90, a current ratio of 0.19 and a quick ratio of 0.17.

Royal Caribbean Cruises (NYSE:RCL) last released its earnings results on Thursday, October 26th. The company reported $3.85 EPS for the quarter, topping the consensus estimate of $3.43 by $0.42. Royal Caribbean Cruises had a return on equity of 34.59% and a net margin of 6.98%. The business had revenue of $4.16 billion during the quarter, compared to analysts’ expectations of $4.08 billion. During the same quarter last year, the firm posted $0.26 earnings per share. The firm’s revenue was up 39.0% on a year-over-year basis. Research analysts expect that Royal Caribbean Cruises Ltd. will post 6.59 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages have issued reports on RCL. Wells Fargo & Company lowered their target price on Royal Caribbean Cruises from $127.00 to $123.00 and set an “overweight” rating for the company in a report on Monday, October 9th. Tigress Financial upped their target price on Royal Caribbean Cruises from $102.00 to $139.00 in a report on Tuesday, August 15th. Susquehanna decreased their price target on Royal Caribbean Cruises from $127.00 to $120.00 and set a “positive” rating for the company in a research note on Tuesday, October 31st. Barclays decreased their price target on Royal Caribbean Cruises from $132.00 to $127.00 and set an “overweight” rating for the company in a research note on Monday, October 9th. Finally, StockNews.com started coverage on Royal Caribbean Cruises in a research note on Thursday, October 5th. They issued a “hold” rating for the company. Four analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat, Royal Caribbean Cruises presently has a consensus rating of “Moderate Buy” and an average target price of $111.00.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in RCL. Panagora Asset Management Inc. boosted its holdings in Royal Caribbean Cruises by 21.8% in the first quarter. Panagora Asset Management Inc. now owns 11,553 shares of the company’s stock worth $968,000 after acquiring an additional 2,068 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its holdings in Royal Caribbean Cruises by 6.6% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 30,004 shares of the company’s stock worth $2,514,000 after acquiring an additional 1,861 shares in the last quarter. Yousif Capital Management LLC boosted its holdings in Royal Caribbean Cruises by 2.3% in the first quarter. Yousif Capital Management LLC now owns 35,806 shares of the company’s stock worth $3,000,000 after acquiring an additional 818 shares in the last quarter. Aviva PLC boosted its holdings in Royal Caribbean Cruises by 65.5% in the first quarter. Aviva PLC now owns 54,096 shares of the company’s stock worth $4,532,000 after acquiring an additional 21,415 shares in the last quarter. Finally, Prudential PLC bought a new position in Royal Caribbean Cruises in the first quarter worth approximately $300,000. Institutional investors own 75.64% of the company’s stock.

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 13, 2023, it operated 64 ships. The company was founded in 1968 and is headquartered in Miami, Florida.