Royal Caribbean Cruises (NYSE:RCL) Price Target Raised to $275.00 at Truist Financial

Royal Caribbean Cruises (NYSE:RCL) had its target price upped by Truist Financial from $272.00 to $275.00 in a research report report published on Monday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages have also commented on RCL. Loop Capital upgraded shares of Royal Caribbean Cruises from a “hold” rating to a “buy” rating and set a $250.00 price target on the stock in a report on Wednesday, March 5th. Stifel Nicolaus cut their price target on shares of Royal Caribbean Cruises from $310.00 to $265.00 and set a “buy” rating on the stock in a report on Tuesday, April 8th. Wells Fargo & Company lifted their price target on shares of Royal Caribbean Cruises from $232.00 to $272.00 and gave the stock an “overweight” rating in a report on Monday, January 27th. Tigress Financial boosted their target price on shares of Royal Caribbean Cruises from $270.00 to $330.00 and gave the company a “buy” rating in a report on Friday, February 7th. Finally, The Goldman Sachs Group dropped their target price on shares of Royal Caribbean Cruises from $305.00 to $245.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Four investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $271.45.

Royal Caribbean Cruises Stock Performance

NYSE RCL opened at $253.99 on Monday. The firm’s fifty day moving average price is $212.98 and its two-hundred day moving average price is $230.42. The stock has a market cap of $68.97 billion, a PE ratio of 23.76, a PEG ratio of 0.90 and a beta of 2.12. Royal Caribbean Cruises has a fifty-two week low of $130.08 and a fifty-two week high of $277.08. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.15 and a current ratio of 0.17.

Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $2.71 EPS for the quarter, topping analysts’ consensus estimates of $2.53 by $0.18. The company had revenue of $4 billion for the quarter, compared to analyst estimates of $4.02 billion. Royal Caribbean Cruises had a net margin of 17.46% and a return on equity of 48.97%. Royal Caribbean Cruises’s revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.77 earnings per share. On average, equities analysts expect that Royal Caribbean Cruises will post 14.9 EPS for the current fiscal year.

Royal Caribbean Cruises announced that its board has authorized a stock repurchase plan on Wednesday, February 12th that authorizes the company to repurchase $1.00 billion in shares. This repurchase authorization authorizes the company to purchase up to 1.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

Royal Caribbean Cruises Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 4th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.18%. Royal Caribbean Cruises’s dividend payout ratio (DPR) is currently 24.92%.

Institutional Investors Weigh In On Royal Caribbean Cruises

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Dorsey & Whitney Trust CO LLC increased its position in shares of Royal Caribbean Cruises by 2.0% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 2,036 shares of the company’s stock worth $470,000 after acquiring an additional 39 shares in the last quarter. Ostrum Asset Management increased its position in shares of Royal Caribbean Cruises by 0.3% during the fourth quarter. Ostrum Asset Management now owns 11,610 shares of the company’s stock worth $2,678,000 after acquiring an additional 40 shares in the last quarter. Farther Finance Advisors LLC increased its position in shares of Royal Caribbean Cruises by 1.6% during the fourth quarter. Farther Finance Advisors LLC now owns 2,730 shares of the company’s stock worth $630,000 after acquiring an additional 42 shares in the last quarter. Hemington Wealth Management increased its position in shares of Royal Caribbean Cruises by 9.0% during the fourth quarter. Hemington Wealth Management now owns 533 shares of the company’s stock worth $123,000 after acquiring an additional 44 shares in the last quarter. Finally, Okabena Investment Services Inc. increased its position in shares of Royal Caribbean Cruises by 0.9% during the first quarter. Okabena Investment Services Inc. now owns 4,996 shares of the company’s stock worth $1,026,000 after acquiring an additional 44 shares in the last quarter. 87.53% of the stock is owned by institutional investors.

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.