Royal Caribbean Cruises (NYSE:RCL) Price Target Raised to $371.00 at JPMorgan Chase & Co.

Royal Caribbean Cruises (NYSE:RCLFree Report) had its price target upped by JPMorgan Chase & Co. from $368.00 to $371.00 in a report published on Monday,Benzinga reports. The firm currently has an overweight rating on the stock.

Other research analysts have also recently issued research reports about the stock. Stifel Nicolaus lifted their price objective on shares of Royal Caribbean Cruises from $380.00 to $420.00 and gave the company a “buy” rating in a report on Friday. The Goldman Sachs Group increased their price objective on Royal Caribbean Cruises from $310.00 to $370.00 and gave the company a “buy” rating in a research note on Friday. TD Cowen reissued a “buy” rating on shares of Royal Caribbean Cruises in a research note on Tuesday, January 13th. Sanford C. Bernstein restated an “outperform” rating and set a $380.00 price target on shares of Royal Caribbean Cruises in a report on Friday. Finally, Mizuho set a $379.00 price target on Royal Caribbean Cruises in a research report on Friday. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $343.05.

Read Our Latest Research Report on RCL

Royal Caribbean Cruises Trading Up 2.9%

Shares of NYSE RCL opened at $334.21 on Monday. The company has a current ratio of 0.18, a quick ratio of 0.16 and a debt-to-equity ratio of 1.77. The stock has a market capitalization of $91.14 billion, a PE ratio of 21.41, a PEG ratio of 0.90 and a beta of 1.94. Royal Caribbean Cruises has a twelve month low of $164.01 and a twelve month high of $366.50. The stock has a fifty day simple moving average of $284.08 and a 200-day simple moving average of $303.71.

Royal Caribbean Cruises (NYSE:RCLGet Free Report) last announced its earnings results on Thursday, January 29th. The company reported $2.80 EPS for the quarter, meeting analysts’ consensus estimates of $2.80. The company had revenue of $4.26 billion during the quarter, compared to analysts’ expectations of $4.28 billion. Royal Caribbean Cruises had a return on equity of 45.06% and a net margin of 23.80%.Royal Caribbean Cruises’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same period last year, the business posted $1.63 EPS. On average, equities analysts forecast that Royal Caribbean Cruises will post 14.9 earnings per share for the current year.

Royal Caribbean Cruises Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 14th. Shareholders of record on Friday, December 26th were paid a $1.00 dividend. The ex-dividend date was Friday, December 26th. This represents a $4.00 dividend on an annualized basis and a yield of 1.2%. Royal Caribbean Cruises’s payout ratio is currently 25.62%.

Royal Caribbean Cruises announced that its board has authorized a stock buyback plan on Wednesday, December 10th that permits the company to repurchase $2.00 billion in shares. This repurchase authorization permits the company to purchase up to 2.6% of its shares through open market purchases. Shares repurchase plans are typically a sign that the company’s management believes its shares are undervalued.

Institutional Trading of Royal Caribbean Cruises

A number of large investors have recently bought and sold shares of the business. Frazier Financial Advisors LLC increased its stake in Royal Caribbean Cruises by 27.1% in the second quarter. Frazier Financial Advisors LLC now owns 136 shares of the company’s stock valued at $43,000 after purchasing an additional 29 shares during the period. Pinnacle Wealth Management Advisory Group LLC grew its holdings in shares of Royal Caribbean Cruises by 1.2% during the fourth quarter. Pinnacle Wealth Management Advisory Group LLC now owns 2,485 shares of the company’s stock worth $693,000 after buying an additional 30 shares during the last quarter. AlphaStar Capital Management LLC increased its position in Royal Caribbean Cruises by 4.1% in the 4th quarter. AlphaStar Capital Management LLC now owns 779 shares of the company’s stock valued at $217,000 after acquiring an additional 31 shares during the period. Prosperity Financial Group Inc. raised its stake in Royal Caribbean Cruises by 0.5% during the 2nd quarter. Prosperity Financial Group Inc. now owns 6,936 shares of the company’s stock valued at $2,172,000 after acquiring an additional 32 shares during the last quarter. Finally, Westside Investment Management Inc. raised its stake in Royal Caribbean Cruises by 29.1% during the 2nd quarter. Westside Investment Management Inc. now owns 142 shares of the company’s stock valued at $45,000 after acquiring an additional 32 shares during the last quarter. Institutional investors and hedge funds own 87.53% of the company’s stock.

Key Headlines Impacting Royal Caribbean Cruises

Here are the key news stories impacting Royal Caribbean Cruises this week:

About Royal Caribbean Cruises

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Royal Caribbean Cruises (NYSE: RCL), operating as part of the Royal Caribbean Group, is a global cruise company that develops, markets and operates passenger cruise ships. The company operates multiple consumer-facing cruise brands that offer short- and long-duration itineraries and a range of onboard experiences. Its core activities include itineraries and voyage operations, guest services and hospitality, onboard food and beverage, entertainment and recreation programming, and the commercial activities needed to sell and support cruises through both direct and travel‑agent channels.

Royal Caribbean’s ships serve a broad set of geographies worldwide, regularly deploying vessels in the Caribbean, North America (including Alaska), Europe, Asia, Australia and South America.

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