Mizuho Reiterates “Outperform” Rating for Royal Caribbean Cruises (NYSE:RCL)

Mizuho restated their outperform rating on shares of Royal Caribbean Cruises (NYSE:RCL) in a research report released on Thursday morning,Benzinga reports. Mizuho currently has a $253.00 price objective on the stock, down from their previous price objective of $255.00.

Several other research analysts have also weighed in on RCL. Sanford C. Bernstein initiated coverage on Royal Caribbean Cruises in a research report on Tuesday, November 26th. They issued an “outperform” rating and a $290.00 target price on the stock. Bank of America lifted their price objective on Royal Caribbean Cruises from $210.00 to $240.00 and gave the company a “neutral” rating in a research note on Wednesday, November 13th. Wells Fargo & Company increased their target price on shares of Royal Caribbean Cruises from $180.00 to $232.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Tigress Financial lifted their price target on shares of Royal Caribbean Cruises from $210.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Finally, The Goldman Sachs Group increased their price objective on shares of Royal Caribbean Cruises from $245.00 to $275.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $250.13.

Royal Caribbean Cruises Stock Performance

NYSE RCL opened at $238.40 on Thursday. The business’s 50-day moving average price is $237.63 and its 200 day moving average price is $197.71. The company has a current ratio of 0.19, a quick ratio of 0.16 and a debt-to-equity ratio of 2.63. Royal Caribbean Cruises has a twelve month low of $113.10 and a twelve month high of $258.70. The company has a market capitalization of $64.10 billion, a PE ratio of 24.50, a price-to-earnings-growth ratio of 0.52 and a beta of 2.59.

Royal Caribbean Cruises (NYSE:RCL) last released its earnings results on Tuesday, October 29th. The company reported $5.20 earnings per share (EPS) 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 analysts’ expectations of $4.89 billion. During the same period last year, the company earned $3.85 earnings per share. The company’s quarterly revenue was up 17.5% on a year-over-year basis. On average, research analysts predict that Royal Caribbean Cruises will post 11.66 earnings per share for the current year.

Royal Caribbean Cruises Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Friday, December 27th were paid a $0.55 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.92%. Royal Caribbean Cruises’s dividend payout ratio (DPR) is presently 22.61%.

Insider Buying and Selling at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, Director Arne Alexander Wilhelmsen sold 139,353 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $237.89, for a total transaction of $33,150,685.17. Following the sale, the director now owns 18,167,507 shares in the company, valued at $4,321,868,240.23. This represents a 0.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Harri U. Kulovaara sold 3,256 shares of Royal Caribbean Cruises stock in a transaction that occurred 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 completion of the transaction, the executive vice president now owns 22,348 shares of the company’s stock, valued at approximately $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 404,332 shares of company stock worth $94,299,521 in the last ninety days. 7.95% of the stock is owned by insiders.

Hedge Funds Weigh In On Royal Caribbean Cruises

Several large investors have recently added to or reduced their stakes in RCL. Benjamin F. Edwards & Company Inc. raised its holdings in shares of Royal Caribbean Cruises by 104.6% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,571 shares of the company’s stock worth $251,000 after purchasing an additional 803 shares during the period. ProShare Advisors LLC raised its stake in Royal Caribbean Cruises by 1.7% during the second quarter. ProShare Advisors LLC now owns 42,133 shares of the company’s stock worth $6,717,000 after acquiring an additional 724 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in Royal Caribbean Cruises by 30.1% in the second quarter. EverSource Wealth Advisors LLC now owns 1,507 shares of the company’s stock worth $236,000 after acquiring an additional 349 shares during the last quarter. Public Sector Pension Investment Board boosted its stake in Royal Caribbean Cruises by 93.4% in the second quarter. Public Sector Pension Investment Board now owns 8,127 shares of the company’s stock valued at $1,296,000 after acquiring an additional 3,925 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in shares of Royal Caribbean Cruises by 60.7% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 46,695 shares of the company’s stock valued at $7,445,000 after purchasing an additional 17,633 shares during the last quarter. 87.53% of the stock is currently owned by institutional investors.

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.