Royal Caribbean Cruises Ltd. (NYSE:RCL) Receives $311.05 Consensus Target Price from Analysts

Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) have been given a consensus rating of “Moderate Buy” by the twenty-three brokerages that are covering the stock, MarketBeat reports. Four research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $321.10.

A number of analysts have weighed in on the company. Northcoast Research initiated coverage on Royal Caribbean Cruises in a research report on Friday, April 25th. They set a “buy” rating and a $279.00 price objective for the company. Morgan Stanley increased their price target on Royal Caribbean Cruises from $220.00 to $230.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 6th. Susquehanna boosted their price objective on shares of Royal Caribbean Cruises from $275.00 to $385.00 and gave the company a “positive” rating in a research note on Wednesday. Citigroup upped their price objective on shares of Royal Caribbean Cruises from $390.00 to $399.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Bank of America lifted their target price on shares of Royal Caribbean Cruises from $230.00 to $355.00 and gave the company a “neutral” rating in a report on Wednesday, July 23rd.

Royal Caribbean Cruises Stock Down 1.0%

RCL stock opened at $330.96 on Monday. The company has a market cap of $89.88 billion, a price-to-earnings ratio of 24.81, a price-to-earnings-growth ratio of 0.94 and a beta of 2.17. The company has a fifty day moving average price of $299.59 and a 200 day moving average price of $252.59. The company has a debt-to-equity ratio of 1.88, a current ratio of 0.23 and a quick ratio of 0.15. Royal Caribbean Cruises has a 12 month low of $130.08 and a 12 month high of $355.91.

Royal Caribbean Cruises (NYSE:RCL) last announced its earnings results on Tuesday, July 29th. The company reported $4.38 EPS for the quarter, beating analysts’ consensus estimates of $4.04 by $0.34. Royal Caribbean Cruises had a net margin of 20.97% and a return on equity of 47.15%. The business had revenue of $4.54 billion during the quarter, compared to analysts’ expectations of $4.54 billion. During the same period in the prior year, the company earned $3.21 earnings per share. The business’s revenue was up 10.4% compared to the same quarter last year. Sell-side analysts expect that Royal Caribbean Cruises will post 14.9 earnings per share for the current year.

Royal Caribbean Cruises Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 4th were given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 0.91%. Royal Caribbean Cruises’s dividend payout ratio is currently 24.92%.

Insider Activity

In related news, Director Richard D. Fain sold 19,600 shares of the stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $253.10, for a total value of $4,960,760.00. Following the sale, the director directly owned 165,421 shares of the company’s stock, valued at approximately $41,868,055.10. This represents a 10.59% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.95% of the stock is owned by company insiders.

Institutional Trading of Royal Caribbean Cruises

Institutional investors and hedge funds have recently modified their holdings of the business. Geode Capital Management LLC increased its stake in shares of Royal Caribbean Cruises by 6.3% during the 4th quarter. Geode Capital Management LLC now owns 5,969,532 shares of the company’s stock worth $1,373,856,000 after purchasing an additional 353,893 shares in the last quarter. Revisor Wealth Management LLC purchased a new position in Royal Caribbean Cruises during the first quarter worth $1,525,000. Dorsey Wright & Associates purchased a new position in Royal Caribbean Cruises during the fourth quarter worth $4,221,000. Groupama Asset Managment acquired a new position in shares of Royal Caribbean Cruises in the fourth quarter worth $1,122,000. Finally, Brown Miller Wealth Management LLC purchased a new stake in shares of Royal Caribbean Cruises in the first quarter valued at $266,000. Hedge funds and other institutional investors own 87.53% of the company’s stock.

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.