Royal Caribbean Cruises (NYSE:RCL) Price Target Raised to $210.00

Royal Caribbean Cruises (NYSE:RCL) had its price target hoisted by Morgan Stanley from $190.00 to $210.00 in a research report released on Wednesday morning,Benzinga reports. They currently have an equal weight rating on the stock.

A number of other research firms have also recently weighed in on RCL. Macquarie raised their price target on Royal Caribbean Cruises from $189.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Citigroup raised their price objective on shares of Royal Caribbean Cruises from $257.00 to $283.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Wells Fargo & Company increased their price target on shares of Royal Caribbean Cruises from $180.00 to $232.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Tigress Financial lifted their target price on Royal Caribbean Cruises from $210.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Sanford C. Bernstein began coverage on Royal Caribbean Cruises in a report on Tuesday, November 26th. They issued an “outperform” rating and a $290.00 price target on the stock. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Royal Caribbean Cruises has a consensus rating of “Moderate Buy” and a consensus price target of $243.25.

Royal Caribbean Cruises Price Performance

Shares of RCL stock opened at $227.00 on Wednesday. The stock’s fifty day simple moving average is $234.91 and its 200 day simple moving average is $192.39. Royal Caribbean Cruises has a one year low of $113.10 and a one year high of $258.70. The firm has a market cap of $61.03 billion, a price-to-earnings ratio of 23.33, a P/E/G ratio of 0.65 and a beta of 2.59. The company has a debt-to-equity ratio of 2.63, a current ratio of 0.19 and a quick ratio of 0.16.

Royal Caribbean Cruises (NYSE:RCL) last posted its earnings results on Tuesday, October 29th. The company reported $5.20 earnings per share for the quarter, topping the consensus estimate of $5.05 by $0.15. Royal Caribbean Cruises had a net margin of 16.21% and a return on equity of 52.92%. The business had revenue of $4.89 billion for the quarter, compared to analyst estimates of $4.89 billion. During the same quarter in the prior year, the firm earned $3.85 EPS. The firm’s quarterly revenue was up 17.5% compared to the same quarter last year. On average, analysts expect that Royal Caribbean Cruises will post 11.65 earnings per share for the current fiscal year.

Royal Caribbean Cruises Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Friday, December 27th will be paid a $0.55 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $2.20 annualized dividend and a yield of 0.97%. Royal Caribbean Cruises’s dividend payout ratio (DPR) is currently 22.61%.

Insiders Place Their Bets

In related news, Director Richard D. Fain sold 25,000 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $210.02, for a total value of $5,250,500.00. Following the completion of the sale, the director now directly owns 204,521 shares in the company, valued at $42,953,500.42. The trade was a 10.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Harri U. Kulovaara sold 3,256 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $234.62, for a total value of $763,922.72. Following the transaction, the executive vice president now owns 22,348 shares in the company, valued at $5,243,287.76. The trade was a 12.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 404,332 shares of company stock valued at $94,299,521 over the last 90 days. 7.95% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Sanctuary Advisors LLC increased its stake in Royal Caribbean Cruises by 76.1% during the 3rd quarter. Sanctuary Advisors LLC now owns 28,991 shares of the company’s stock worth $5,142,000 after acquiring an additional 12,530 shares during the period. Wedge Capital Management L L P NC raised its stake in Royal Caribbean Cruises by 2.6% in the third quarter. Wedge Capital Management L L P NC now owns 289,518 shares of the company’s stock valued at $51,349,000 after purchasing an additional 7,298 shares in the last quarter. Souders Financial Advisors acquired a new stake in Royal Caribbean Cruises during the third quarter worth about $800,000. Swiss National Bank increased its holdings in Royal Caribbean Cruises by 0.5% in the 3rd quarter. Swiss National Bank now owns 725,638 shares of the company’s stock valued at $128,699,000 after buying an additional 3,800 shares during the period. Finally, New Wave Wealth Advisors LLC bought a new position in Royal Caribbean Cruises in the 2nd quarter valued at about $611,000. Institutional investors and hedge funds own 87.53% of the company’s stock.

Royal Caribbean Cruises Company Profile

Royal Caribbean Cruises Ltd. operates as a cruise company worldwide. The company operates cruises under the Royal Caribbean International, Celebrity Cruises, and Silversea Cruises brands, which comprise a range of itineraries. As of February 21, 2024, it operated 65 ships. Royal Caribbean Cruises Ltd.