Royal Caribbean Cruises (NYSE:RCL) Price Target Raised to $283.00

Royal Caribbean Cruises (NYSE:RCL) had its price objective upped by Citigroup from $257.00 to $283.00 in a research report released on Wednesday morning,Benzinga reports. Citigroup currently has a buy rating on the stock.

RCL has been the subject of a number of other research reports. Macquarie lifted their price objective on shares of Royal Caribbean Cruises from $189.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Bank of America boosted their price target on Royal Caribbean Cruises from $210.00 to $240.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. Stifel Nicolaus increased their price target on Royal Caribbean Cruises from $250.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. boosted their price target on shares of Royal Caribbean Cruises from $213.00 to $243.00 and gave the company an “overweight” rating in a report on Tuesday, October 29th. Finally, Truist Financial upped their price target on shares of Royal Caribbean Cruises from $204.00 to $272.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $239.75.

Royal Caribbean Cruises Stock Performance

Shares of NYSE:RCL opened at $245.26 on Wednesday. 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 12 month low of $113.10 and a 12 month high of $258.70. The company has a market capitalization of $65.94 billion, a price-to-earnings ratio of 25.21, a PEG ratio of 0.65 and a beta of 2.59. The firm’s 50-day moving average is $222.37 and its 200 day moving average is $181.90.

Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $5.20 EPS for the quarter, beating the consensus estimate of $5.05 by $0.15. Royal Caribbean Cruises had a return on equity of 52.92% and a net margin of 16.21%. The company had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.89 billion. During the same quarter in the prior year, the company posted $3.85 EPS. Royal Caribbean Cruises’s quarterly revenue was up 17.5% on a year-over-year basis. Research analysts predict that Royal Caribbean Cruises will post 11.65 EPS for the current year.

Royal Caribbean Cruises Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Friday, December 27th will be issued a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $2.20 annualized dividend and a dividend yield of 0.90%. Royal Caribbean Cruises’s dividend payout ratio (DPR) is currently 22.61%.

Insider Buying and Selling

In other news, EVP Harri U. Kulovaara sold 3,256 shares of the firm’s stock in a transaction dated 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 directly owns 22,348 shares in the company, valued at $5,243,287.76. This trade represents a 12.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Arne Alexander Wilhelmsen sold 139,353 shares of Royal Caribbean Cruises stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $237.89, for a total value of $33,150,685.17. Following the sale, the director now directly owns 18,167,507 shares of the company’s stock, valued at $4,321,868,240.23. This trade represents a 0.76 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 404,332 shares of company stock worth $94,299,521 in the last three months. Corporate insiders own 7.95% of the company’s stock.

Hedge Funds Weigh In On Royal Caribbean Cruises

Institutional investors have recently bought and sold shares of the business. Wedge Capital Management L L P NC increased its stake in shares of 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 worth $51,349,000 after acquiring an additional 7,298 shares during the period. Souders Financial Advisors acquired a new stake in Royal Caribbean Cruises during the 3rd quarter worth about $800,000. Swiss National Bank raised its stake in shares of Royal Caribbean Cruises by 0.5% during 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 last quarter. New Wave Wealth Advisors LLC acquired a new position in shares of Royal Caribbean Cruises in the 2nd quarter valued at about $611,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in shares of Royal Caribbean Cruises by 8.0% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 35,575 shares of the company’s stock worth $6,310,000 after buying an additional 2,640 shares during the last quarter. 87.53% of the stock is owned by hedge funds and other 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.