Royal Caribbean Cruises (NYSE:RCL) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Royal Caribbean Cruises (NYSE:RCL - Free Report) had its price target hoisted by Morgan Stanley from $190.00 to $210.00 in a report published on Wednesday,Benzinga reports. The brokerage currently has an equal weight rating on the stock.

RCL has been the topic of several other reports. Bank of America raised their price target on shares of Royal Caribbean Cruises from $210.00 to $240.00 and gave the stock a "neutral" rating in a research note on Wednesday, November 13th. Barclays boosted their target price on Royal Caribbean Cruises from $245.00 to $287.00 and gave the stock an "overweight" rating in a report on Friday, December 13th. Tigress Financial lifted their price objective on Royal Caribbean Cruises from $210.00 to $270.00 and gave the stock a "buy" rating in a research report on Thursday, November 7th. Sanford C. Bernstein assumed coverage on Royal Caribbean Cruises in a report on Tuesday, November 26th. They issued an "outperform" rating and a $290.00 target price for the company. Finally, Truist Financial lifted their price target on Royal Caribbean Cruises from $204.00 to $272.00 and gave the stock a "buy" rating in a report on Monday, December 2nd. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $243.25.

Royal Caribbean Cruises Price Performance

Shares of RCL stock traded up $1.67 during trading hours on Wednesday, hitting $227.00. 2,140,699 shares of the company's stock were exchanged, compared to its average volume of 1,927,659. The firm has a 50 day moving average of $234.91 and a two-hundred day moving average of $192.39. Royal Caribbean Cruises has a fifty-two week low of $113.10 and a fifty-two week high of $258.70. The firm has a market cap of $61.03 billion, a P/E ratio of 23.33, a P/E/G ratio of 0.65 and a beta of 2.59. The company has a quick ratio of 0.16, a current ratio of 0.19 and a debt-to-equity ratio of 2.63.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $5.20 earnings per share for the quarter, beating analysts' consensus estimates of $5.05 by $0.15. The firm had revenue of $4.89 billion for the quarter, compared to analyst estimates of $4.89 billion. Royal Caribbean Cruises had a net margin of 16.21% and a return on equity of 52.92%. Royal Caribbean Cruises's quarterly revenue was up 17.5% compared to the same quarter last year. During the same period last year, the company posted $3.85 EPS. Sell-side analysts forecast that Royal Caribbean Cruises will post 11.65 EPS for the current year.

Royal Caribbean Cruises Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Friday, December 27th will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $2.20 dividend on an annualized basis and a yield of 0.97%. Royal Caribbean Cruises's dividend payout ratio (DPR) is presently 22.61%.

Insider Activity

In related news, CAO Henry L. Pujol sold 6,723 shares of the company's stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $208.51, for a total transaction of $1,401,812.73. Following the sale, the chief accounting officer now directly owns 9,964 shares in the company, valued at approximately $2,077,593.64. This represents a 40.29 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 transaction 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 $5,243,287.76. This represents a 12.72 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 404,332 shares of company stock valued at $94,299,521. 7.95% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Royal Caribbean Cruises

Hedge funds and other institutional investors have recently modified their holdings of the company. D1 Capital Partners L.P. increased its holdings in Royal Caribbean Cruises by 105.7% in the second quarter. D1 Capital Partners L.P. now owns 1,512,103 shares of the company's stock valued at $241,075,000 after buying an additional 777,103 shares during the last quarter. International Assets Investment Management LLC increased its holdings in shares of Royal Caribbean Cruises by 10,599.0% in the 3rd quarter. International Assets Investment Management LLC now owns 409,879 shares of the company's stock valued at $72,696,000 after acquiring an additional 406,048 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Royal Caribbean Cruises by 24.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,048,501 shares of the company's stock worth $326,616,000 after acquiring an additional 400,565 shares in the last quarter. Forest Avenue Capital Management LP purchased a new stake in Royal Caribbean Cruises during the second quarter worth approximately $35,038,000. Finally, Teachers Retirement System of The State of Kentucky boosted its holdings in Royal Caribbean Cruises by 809.6% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 173,124 shares of the company's stock valued at $27,601,000 after purchasing an additional 154,090 shares in the last quarter. 87.53% of the stock is currently owned by institutional investors and hedge funds.

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.