Royal Caribbean Cruises (NYSE:RCL) Downgraded by StockNews.com to Sell

StockNews.com cut shares of Royal Caribbean Cruises (NYSE:RCL) from a hold rating to a sell rating in a research note released on Wednesday morning.

RCL has been the subject of a number of other research reports. Truist Financial raised their price target on shares of Royal Caribbean Cruises from $151.00 to $175.00 and gave the stock a buy rating in a research note on Wednesday, May 29th. Wells Fargo & Company lifted their price objective on Royal Caribbean Cruises from $159.00 to $165.00 and gave the company an overweight rating in a report on Friday, May 17th. Tigress Financial upped their target price on shares of Royal Caribbean Cruises from $155.00 to $210.00 and gave the stock a buy rating in a report on Friday, August 2nd. Bank of America lifted their price target on shares of Royal Caribbean Cruises from $145.00 to $172.00 and gave the company a neutral rating in a report on Tuesday, July 23rd. Finally, UBS Group upped their price objective on shares of Royal Caribbean Cruises from $168.00 to $183.00 and gave the stock a buy rating in a research note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, Royal Caribbean Cruises has an average rating of Moderate Buy and an average target price of $182.13.

Royal Caribbean Cruises Price Performance

Shares of NYSE:RCL opened at $166.94 on Wednesday. The firm has a market capitalization of $42.96 billion, a PE ratio of 21.51, a PEG ratio of 0.44 and a beta of 2.62. The company has a current ratio of 0.19, a quick ratio of 0.17 and a debt-to-equity ratio of 3.20. Royal Caribbean Cruises has a 1-year low of $78.35 and a 1-year high of $173.37. The business’s 50 day moving average is $158.13 and its 200-day moving average is $143.93.

Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings results on Thursday, July 25th. The company reported $3.21 earnings per share for the quarter, topping analysts’ consensus estimates of $2.76 by $0.45. Royal Caribbean Cruises had a net margin of 16.32% and a return on equity of 52.49%. The firm had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.05 billion. During the same quarter in the previous year, the company earned $1.82 earnings per share. The business’s revenue was up 16.4% compared to the same quarter last year. Sell-side analysts predict that Royal Caribbean Cruises will post 11.63 earnings per share for the current year.

Royal Caribbean Cruises Dividend Announcement

The business also recently declared a — dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 20th will be given a $0.40 dividend. The ex-dividend date is Friday, September 20th. Royal Caribbean Cruises’s dividend payout ratio is currently 20.62%.

Insider Activity at Royal Caribbean Cruises

In other news, CFO Naftali Holtz bought 5,350 shares of the stock in a transaction on Friday, August 2nd. The stock was purchased at an average price of $140.00 per share, with a total value of $749,000.00. Following the completion of the purchase, the chief financial officer now owns 48,256 shares of the company’s stock, valued at $6,755,840. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Richard D. Fain sold 19,584 shares of the firm’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $153.96, for a total transaction of $3,015,152.64. Following the sale, the director now owns 179,117 shares of the company’s stock, valued at $27,576,853.32. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Naftali Holtz acquired 5,350 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The stock was acquired at an average price of $140.00 per share, with a total value of $749,000.00. Following the completion of the transaction, the chief financial officer now directly owns 48,256 shares in the company, valued at approximately $6,755,840. The disclosure for this purchase can be found here. 7.95% of the stock is currently owned by corporate insiders.

Institutional Trading of Royal Caribbean Cruises

Hedge funds have recently bought and sold shares of the stock. Scarborough Advisors LLC bought a new stake in shares of Royal Caribbean Cruises during the fourth quarter worth $26,000. Unique Wealth Strategies LLC bought a new position in Royal Caribbean Cruises during the 2nd quarter worth about $27,000. Creekmur Asset Management LLC acquired a new stake in shares of Royal Caribbean Cruises in the 4th quarter valued at about $30,000. Versant Capital Management Inc lifted its holdings in shares of Royal Caribbean Cruises by 905.3% in the second quarter. Versant Capital Management Inc now owns 191 shares of the company’s stock valued at $30,000 after purchasing an additional 172 shares in the last quarter. Finally, AlphaMark Advisors LLC lifted its holdings in shares of Royal Caribbean Cruises by 233.3% in the second quarter. AlphaMark Advisors LLC now owns 200 shares of the company’s stock valued at $32,000 after purchasing an additional 140 shares in the last quarter. 87.53% of the stock is currently owned by institutional investors and hedge funds.

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.