Royal Caribbean Cruises (NYSE:RCL) Price Target Lowered to $350.00 at UBS Group

Royal Caribbean Cruises (NYSE:RCL) had its price objective decreased by UBS Group from $371.00 to $350.00 in a research report report published on Monday,Benzinga reports. UBS Group currently has a buy rating on the stock.

Several other brokerages have also recently commented on RCL. Jefferies Financial Group raised their target price on Royal Caribbean Cruises from $275.00 to $334.00 and gave the stock a “hold” rating in a research report on Friday, January 30th. JPMorgan Chase & Co. decreased their target price on Royal Caribbean Cruises from $376.00 to $341.00 and set an “overweight” rating for the company in a research report on Wednesday, April 8th. The Goldman Sachs Group raised their target price on Royal Caribbean Cruises from $310.00 to $370.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Truist Financial lifted their price objective on Royal Caribbean Cruises from $318.00 to $327.00 and gave the company a “hold” rating in a research report on Tuesday, March 24th. Finally, Wells Fargo & Company lifted their price objective on Royal Caribbean Cruises from $373.00 to $383.00 and gave the company an “overweight” rating in a research report on Sunday, February 1st. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $352.35.

Royal Caribbean Cruises Stock Performance

Shares of Royal Caribbean Cruises stock opened at $281.94 on Monday. The stock has a market cap of $76.27 billion, a PE ratio of 18.06, a price-to-earnings-growth ratio of 0.92 and a beta of 1.93. The business has a fifty day simple moving average of $295.29 and a 200-day simple moving average of $289.72. The company has a quick ratio of 0.16, a current ratio of 0.18 and a debt-to-equity ratio of 1.77. Royal Caribbean Cruises has a 12 month low of $185.50 and a 12 month high of $366.50.

Royal Caribbean Cruises (NYSE:RCL) last issued its earnings results on Thursday, January 29th. The company reported $2.80 EPS for the quarter, hitting the consensus estimate of $2.80. The business 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 was up 13.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.63 earnings per share. On average, sell-side analysts anticipate that Royal Caribbean Cruises will post 14.9 EPS for the current fiscal year.

Royal Caribbean Cruises Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 3rd. Shareholders of record on Friday, March 6th were issued a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a yield of 2.1%. This is an increase from Royal Caribbean Cruises’s previous quarterly dividend of $1.00. The ex-dividend date was Friday, March 6th. Royal Caribbean Cruises’s dividend payout ratio is 38.44%.

Insider Activity

In other Royal Caribbean Cruises news, CEO Jason T. Liberty sold 90,910 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer directly owned 218,822 shares in the company, valued at $71,513,217.82. This trade represents a 29.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Arne Alexander Wilhelmsen sold 356,026 shares of the firm’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $318.39, for a total value of $113,355,118.14. Following the transaction, the director owned 16,681,386 shares in the company, valued at approximately $5,311,186,488.54. This trade represents a 2.09% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 1,967,319 shares of company stock worth $626,681,935. Corporate insiders own 6.95% of the company’s stock.

Hedge Funds Weigh In On Royal Caribbean Cruises

Several institutional investors have recently bought and sold shares of RCL. Pinnacle Wealth Management Advisory Group LLC increased its stake in shares of Royal Caribbean Cruises by 1.2% in the fourth quarter. Pinnacle Wealth Management Advisory Group LLC now owns 2,485 shares of the company’s stock worth $693,000 after purchasing an additional 30 shares during the period. AlphaStar Capital Management LLC increased its stake in shares of Royal Caribbean Cruises by 4.1% in the fourth quarter. AlphaStar Capital Management LLC now owns 779 shares of the company’s stock worth $217,000 after purchasing an additional 31 shares during the period. Kestra Investment Management LLC increased its stake in shares of Royal Caribbean Cruises by 2.6% in the fourth quarter. Kestra Investment Management LLC now owns 1,208 shares of the company’s stock worth $337,000 after purchasing an additional 31 shares during the period. Versant Capital Management Inc increased its stake in shares of Royal Caribbean Cruises by 6.4% in the third quarter. Versant Capital Management Inc now owns 562 shares of the company’s stock worth $182,000 after purchasing an additional 34 shares during the period. Finally, Waterloo Capital L.P. increased its stake in shares of Royal Caribbean Cruises by 2.9% in the fourth quarter. Waterloo Capital L.P. now owns 1,191 shares of the company’s stock worth $332,000 after purchasing an additional 34 shares during the period. 87.53% of the stock is currently owned by institutional investors.

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.