Royal Caribbean Cruises (NYSE:RCL) Price Target Raised to $327.00 at Truist Financial

Royal Caribbean Cruises (NYSE:RCL) had its target price raised by Truist Financial from $318.00 to $327.00 in a research note issued to investors on Tuesday,Benzinga reports. They currently have a hold rating on the stock.

RCL has been the topic of several other reports. The Goldman Sachs Group boosted their price target on shares of Royal Caribbean Cruises from $310.00 to $370.00 and gave the stock a “buy” rating in a research report on Friday, January 30th. Mizuho set a $379.00 price objective on shares of Royal Caribbean Cruises in a research report on Friday, January 30th. Morgan Stanley lifted their price objective on shares of Royal Caribbean Cruises from $290.00 to $330.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 3rd. JPMorgan Chase & Co. boosted their target price on shares of Royal Caribbean Cruises from $371.00 to $376.00 and gave the stock an “overweight” rating in a report on Monday, March 16th. Finally, William Blair reissued an “outperform” rating on shares of Royal Caribbean Cruises in a research note on Thursday, January 29th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $348.95.

Royal Caribbean Cruises Stock Performance

Shares of NYSE RCL opened at $273.26 on Tuesday. Royal Caribbean Cruises has a 1 year low of $164.01 and a 1 year high of $366.50. The firm has a market cap of $73.93 billion, a P/E ratio of 17.51, a PEG ratio of 0.91 and a beta of 1.87. The stock has a fifty day moving average price of $300.70 and a two-hundred day moving average price of $295.56. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.16 and a current ratio of 0.18.

Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings data on Thursday, January 29th. The company reported $2.80 EPS for the quarter, hitting analysts’ consensus estimates of $2.80. Royal Caribbean Cruises had a return on equity of 45.06% and a net margin of 23.80%.The company had revenue of $4.26 billion for the quarter, compared to the consensus estimate of $4.28 billion. During the same quarter in the previous year, the business earned $1.63 EPS. The company’s quarterly revenue was up 13.2% compared to the same quarter last year. Research analysts forecast that Royal Caribbean Cruises will post 14.9 EPS for the current fiscal year.

Royal Caribbean Cruises Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 3rd. Investors of record on Friday, March 6th will be given a $1.50 dividend. This is a positive change from Royal Caribbean Cruises’s previous quarterly dividend of $1.00. The ex-dividend date is Friday, March 6th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 2.2%. Royal Caribbean Cruises’s dividend payout ratio is 38.44%.

Royal Caribbean Cruises declared that its board has authorized a share buyback plan on Wednesday, December 10th that authorizes the company to repurchase $2.00 billion in shares. This repurchase authorization authorizes the company to buy up to 2.6% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

Insiders Place Their Bets

In other Royal Caribbean Cruises news, insider Laura H. Bethge sold 7,854 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $326.21, for a total value of $2,562,053.34. Following the completion of the transaction, the insider directly owned 32,786 shares in the company, valued at $10,695,121.06. This trade represents a 19.33% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, Director Maritza Gomez Montiel sold 1,385 shares of Royal Caribbean Cruises stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $327.18, for a total transaction of $453,144.30. Following the completion of the transaction, the director directly owned 12,849 shares in the company, valued at approximately $4,203,935.82. This trade represents a 9.73% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 1,967,319 shares of company stock worth $626,681,935. Company insiders own 6.95% of the company’s stock.

Hedge Funds Weigh In On Royal Caribbean Cruises

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RCL. Pinnacle Wealth Management Advisory Group LLC raised its stake in Royal Caribbean Cruises by 1.2% during the 4th quarter. Pinnacle Wealth Management Advisory Group LLC now owns 2,485 shares of the company’s stock valued at $693,000 after purchasing an additional 30 shares during the period. AlphaStar Capital Management LLC boosted its position 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 buying an additional 31 shares during the period. Kestra Investment Management LLC boosted its position 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 buying an additional 31 shares during the period. Versant Capital Management Inc grew its holdings in shares of Royal Caribbean Cruises by 6.4% during the third quarter. Versant Capital Management Inc now owns 562 shares of the company’s stock valued at $182,000 after buying an additional 34 shares in the last quarter. Finally, Waterloo Capital L.P. grew its holdings in shares of Royal Caribbean Cruises by 2.9% during the fourth quarter. Waterloo Capital L.P. now owns 1,191 shares of the company’s stock valued at $332,000 after buying an additional 34 shares in the last quarter. Institutional investors and hedge funds own 87.53% of the company’s stock.

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.