Royal Caribbean Cruises (NYSE:RCL) Given New $290.00 Price Target at Loop Capital

Royal Caribbean Cruises (NYSE:RCL) had its target price lifted by Loop Capital from $250.00 to $290.00 in a research report sent to investors on Tuesday,Benzinga reports. Loop Capital currently has a buy rating on the stock.

RCL has been the subject of several other reports. Tigress Financial raised their target price on Royal Caribbean Cruises from $270.00 to $330.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. The Goldman Sachs Group cut their price objective on Royal Caribbean Cruises from $305.00 to $245.00 and set a “buy” rating for the company in a report on Wednesday, April 23rd. Jefferies Financial Group assumed coverage on Royal Caribbean Cruises in a report on Monday, March 31st. They set a “hold” rating and a $230.00 price objective for the company. Barclays lifted their price objective on Royal Caribbean Cruises from $249.00 to $263.00 and gave the company an “overweight” rating in a report on Wednesday, April 30th. Finally, Northcoast Research assumed coverage on Royal Caribbean Cruises in a report on Friday, April 25th. They set a “buy” rating and a $279.00 price objective for the company. Four analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $273.95.

Royal Caribbean Cruises Stock Up 1.9%

Shares of RCL stock opened at $266.98 on Tuesday. The stock has a market cap of $72.50 billion, a P/E ratio of 24.97, a price-to-earnings-growth ratio of 0.90 and a beta of 2.14. Royal Caribbean Cruises has a one year low of $130.08 and a one year high of $277.08. The stock has a fifty day moving average price of $220.49 and a 200 day moving average price of $232.25. The company has a debt-to-equity ratio of 2.39, a current ratio of 0.17 and a quick ratio of 0.15.

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

Royal Caribbean Cruises declared that its board has initiated a share buyback plan on Wednesday, February 12th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to purchase up to 1.5% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s leadership believes its stock is undervalued.

Royal Caribbean Cruises Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Wednesday, June 4th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.12%. Royal Caribbean Cruises’s dividend payout ratio is 24.92%.

Insider Activity at Royal Caribbean Cruises

In related news, Director Richard D. Fain sold 19,600 shares of Royal Caribbean Cruises stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $253.10, for a total value of $4,960,760.00. Following the completion of the sale, the director now directly owns 165,421 shares in the company, valued at $41,868,055.10. This trade represents a 10.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.95% of the stock is currently owned by company insiders.

Institutional Trading of Royal Caribbean Cruises

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Financial Gravity Asset Management Inc. acquired a new stake in Royal Caribbean Cruises in the first quarter worth about $25,000. Hughes Financial Services LLC acquired a new stake in Royal Caribbean Cruises in the first quarter worth about $26,000. Brown Brothers Harriman & Co. increased its position in Royal Caribbean Cruises by 618.8% in the fourth quarter. Brown Brothers Harriman & Co. now owns 115 shares of the company’s stock worth $27,000 after purchasing an additional 99 shares during the period. Optimum Investment Advisors acquired a new stake in Royal Caribbean Cruises in the first quarter worth about $31,000. Finally, Fourth Dimension Wealth LLC acquired a new stake in Royal Caribbean Cruises in the fourth quarter worth about $35,000. 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.