Royal Caribbean Cruises Sees Unusually Large Options Volume (NYSE:RCL)

Royal Caribbean Cruises Ltd. (NYSE:RCL) was the target of unusually large options trading on Tuesday. Stock investors purchased 17,450 put options on the stock. This is an increase of approximately 80% compared to the average daily volume of 9,698 put options.

Key Stories Impacting Royal Caribbean Cruises

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

• Positive Sentiment: Adjusted EBITDA momentum — RCL’s adjusted EBITDA topped $7B in 2025 and Zacks notes management is targeting roughly $8B in 2026, supporting profitability and cash-generation expectations that underpin upside potential. EBITDA Article
• Positive Sentiment: Lower fuel costs/valuation tailwind — one Seeking Alpha piece argues the recent oil selloff reduces fuel cost risk, making RCL relatively cheaper and enhancing dividend/upside appeal for investors who view current levels as an attractive entry. Oil Selloff Article
• Positive Sentiment: Product/demand expansion — Celebrity Cruises opened bookings for 2028 Galapagos sailings (Celebrity Flora), extending premium inventory and offering long-lead revenue visibility and higher-yield itineraries. This supports revenue mix and booking momentum. Celebrity Bookings
• Positive Sentiment: Relative outperformance and analyst tone — coverage from Barchart highlights RCL’s year-plus outperformance of the consumer cyclical sector with analysts moderately optimistic, which can support multiple expansion if momentum continues. Outperformance Article
• Neutral Sentiment: Balanced valuation outlook — another Seeking Alpha piece notes Royal Caribbean maintains a positive outlook even with periodic oil-price pressure but labels shares as fairly valued, suggesting limited near-term multiple expansion absent clearer macro improvements. Fairly Valued Article
• Negative Sentiment: Options market caution — unusually large put buying (about 17,450 puts, ~80% above typical daily volume) suggests some traders are hedging or speculating on near-term downside, which can increase intraday volatility and weigh on sentiment.
• Negative Sentiment: Macro/geo risks still a headwind — coverage pointing to oil and geopolitical pressures notes these factors can compress valuations and hurt forward bookings if energy or conflict risks re-escalate. Valuation & Risks Article

Analyst Upgrades and Downgrades

Several research firms have weighed in on RCL. Wells Fargo & Company boosted their price target on shares of Royal Caribbean Cruises from $373.00 to $383.00 and gave the stock an “overweight” rating in a research note on Sunday, February 1st. Barclays lifted their price objective on Royal Caribbean Cruises from $324.00 to $361.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. William Blair reissued an “outperform” rating on shares of Royal Caribbean Cruises in a research note on Thursday, January 29th. The Goldman Sachs Group increased their target price on Royal Caribbean Cruises from $310.00 to $370.00 and gave the company a “buy” rating in a report on Friday, January 30th. Finally, Sanford C. Bernstein restated an “outperform” rating and set a $380.00 price target on shares of Royal Caribbean Cruises in a research report on Friday, January 30th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Royal Caribbean Cruises presently has an average rating of “Moderate Buy” and an average price target of $348.29.

Royal Caribbean Cruises Trading Up 0.5%

Shares of RCL opened at $286.45 on Thursday. The stock has a market capitalization of $77.49 billion, a P/E ratio of 18.35, a PEG ratio of 0.93 and a beta of 1.87. Royal Caribbean Cruises has a twelve month low of $164.01 and a twelve month high of $366.50. The company has a quick ratio of 0.16, a current ratio of 0.18 and a debt-to-equity ratio of 1.77. The firm has a fifty day simple moving average of $304.62 and a two-hundred day simple moving average of $301.31.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings data on Thursday, January 29th. The company reported $2.80 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.80. The firm had revenue of $4.26 billion for the quarter, compared to analysts’ expectations of $4.28 billion. Royal Caribbean Cruises had a net margin of 23.80% and a return on equity of 45.06%. The company’s revenue for the quarter was up 13.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.63 earnings per share. On average, research analysts anticipate that Royal Caribbean Cruises will post 14.9 EPS for the current year.

Royal Caribbean Cruises Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 3rd. Investors of record on Friday, March 6th will be issued a dividend of $1.50 per share. The ex-dividend date is Friday, March 6th. This represents a $6.00 dividend on an annualized basis and a yield of 2.1%. This is a boost from Royal Caribbean Cruises’s previous quarterly dividend of $1.00. Royal Caribbean Cruises’s dividend payout ratio (DPR) is presently 38.44%.

Royal Caribbean Cruises declared that its board has approved a share repurchase plan on Wednesday, December 10th that allows the company to buyback $2.00 billion in shares. This buyback authorization allows the company to reacquire up to 2.6% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other Royal Caribbean Cruises news, Director Arne Alexander Wilhelmsen sold 356,026 shares of Royal Caribbean Cruises stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $318.39, for a total transaction of $113,355,118.14. Following the transaction, the director directly owned 16,681,386 shares of the company’s stock, valued at approximately $5,311,186,488.54. This trade represents a 2.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jason T. Liberty sold 90,910 shares of the business’s stock in a transaction that occurred on Friday, February 13th. The stock was sold at an average price of $326.81, for a total transaction of $29,710,297.10. Following the completion of the sale, the chief executive officer owned 218,822 shares of the company’s stock, valued at approximately $71,513,217.82. The trade was a 29.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 1,967,319 shares of company stock worth $626,681,935 over the last quarter. Company insiders own 6.95% of the company’s stock.

Institutional Investors Weigh In On Royal Caribbean Cruises

A number of large investors have recently made changes to their positions in the business. Norges Bank purchased a new stake in Royal Caribbean Cruises in the second quarter worth $1,021,893,000. Capital International Investors increased its position in Royal Caribbean Cruises by 9.8% during the 4th quarter. Capital International Investors now owns 36,165,358 shares of the company’s stock valued at $10,088,156,000 after purchasing an additional 3,215,382 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Royal Caribbean Cruises by 25,747.4% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,202,161 shares of the company’s stock worth $335,307,000 after purchasing an additional 1,197,510 shares in the last quarter. Vanguard Group Inc. raised its holdings in Royal Caribbean Cruises by 3.2% in the 2nd quarter. Vanguard Group Inc. now owns 29,604,177 shares of the company’s stock worth $9,270,252,000 after purchasing an additional 929,414 shares in the last quarter. Finally, Capital Research Global Investors lifted its position in shares of Royal Caribbean Cruises by 4.8% in the 4th quarter. Capital Research Global Investors now owns 20,176,544 shares of the company’s stock worth $5,627,669,000 after purchasing an additional 920,042 shares during the period. 87.53% of the stock is currently owned by institutional investors.

Royal Caribbean Cruises Company Profile

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.