Raleigh Capital Management Inc. Sells 1,675 Shares of Royal Caribbean Cruises Ltd. $RCL

Raleigh Capital Management Inc. trimmed its stake in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 90.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 169 shares of the company’s stock after selling 1,675 shares during the quarter. Raleigh Capital Management Inc.’s holdings in Royal Caribbean Cruises were worth $55,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. 1 North Wealth Services LLC purchased a new position in shares of Royal Caribbean Cruises in the second quarter worth $31,000. Evolution Wealth Management Inc. purchased a new stake in shares of Royal Caribbean Cruises during the second quarter valued at $31,000. Trust Co. of Toledo NA OH bought a new stake in Royal Caribbean Cruises in the 2nd quarter worth about $32,000. Financial Gravity Companies Inc. purchased a new position in Royal Caribbean Cruises in the 2nd quarter worth about $38,000. Finally, Frazier Financial Advisors LLC lifted its stake in Royal Caribbean Cruises by 27.1% during the 2nd quarter. Frazier Financial Advisors LLC now owns 136 shares of the company’s stock valued at $43,000 after acquiring an additional 29 shares during the period. 87.53% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on RCL. Stifel Nicolaus boosted 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. Wells Fargo & Company lifted their price objective on Royal Caribbean Cruises from $373.00 to $383.00 and gave the stock an “overweight” rating in a report on Sunday. Mizuho set a $379.00 price target on Royal Caribbean Cruises in a research note on Friday. William Blair reiterated an “outperform” rating on shares of Royal Caribbean Cruises in a research note on Thursday, January 29th. Finally, Truist Financial cut their target price on shares of Royal Caribbean Cruises from $321.00 to $318.00 and set a “hold” rating for the company in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Royal Caribbean Cruises has a consensus rating of “Moderate Buy” and a consensus price target of $347.81.

Royal Caribbean Cruises Stock Down 2.3%

Shares of RCL opened at $326.39 on Wednesday. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.18 and a quick ratio of 0.16. The stock has a market capitalization of $89.01 billion, a price-to-earnings ratio of 20.91, a price-to-earnings-growth ratio of 0.92 and a beta of 1.91. Royal Caribbean Cruises Ltd. has a 1 year low of $164.01 and a 1 year high of $366.50. The business’s 50 day simple moving average is $285.28 and its 200-day simple moving average is $303.54.

Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings results on Thursday, January 29th. The company reported $2.80 EPS for the quarter, meeting analysts’ consensus estimates of $2.80. The firm had revenue of $4.26 billion during the quarter, compared to the consensus estimate of $4.28 billion. Royal Caribbean Cruises had a net margin of 23.80% and a return on equity of 45.06%. The firm’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.63 EPS. As a group, equities analysts expect that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current fiscal year.

Royal Caribbean Cruises declared that its board has approved a stock buyback program on Wednesday, December 10th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 2.6% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Royal Caribbean Cruises Dividend Announcement

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

About Royal Caribbean Cruises

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.