Royal Caribbean Cruises Ltd. (NYSE:RCL) Receives $239.75 Consensus Target Price from Brokerages

Royal Caribbean Cruises Ltd. (NYSE:RCL - Get Free Report) has earned a consensus rating of "Moderate Buy" from the sixteen analysts that are covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. The average 12-month price target among brokerages that have updated their coverage on the stock in the last year is $239.75.

RCL has been the topic of a number of research reports. StockNews.com raised shares of Royal Caribbean Cruises from a "sell" rating to a "hold" rating in a report on Tuesday, November 26th. Truist Financial boosted their price objective on shares of Royal Caribbean Cruises from $204.00 to $272.00 and gave the stock a "buy" rating in a research note on Monday, December 2nd. Citigroup increased their price objective on Royal Caribbean Cruises from $257.00 to $283.00 and gave the company a "buy" rating in a report on Wednesday. Bank of America lifted their target price on Royal Caribbean Cruises from $210.00 to $240.00 and gave the stock a "neutral" rating in a report on Wednesday, November 13th. Finally, Tigress Financial increased their price target 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.

Royal Caribbean Cruises Price Performance

Shares of NYSE RCL traded up $1.02 during mid-day trading on Friday, hitting $245.17. 1,931,702 shares of the stock traded hands, compared to its average volume of 1,634,115. The company has a market cap of $65.92 billion, a PE ratio of 25.20, a price-to-earnings-growth ratio of 0.65 and a beta of 2.59. Royal Caribbean Cruises has a twelve month low of $113.10 and a twelve month high of $258.70. The company has a debt-to-equity ratio of 2.63, a current ratio of 0.19 and a quick ratio of 0.16. The firm has a 50 day simple moving average of $222.37 and a two-hundred day simple moving average of $182.37.

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

Royal Caribbean Cruises Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Friday, December 27th will be given a dividend of $0.55 per share. The ex-dividend date is Friday, December 27th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.90%. Royal Caribbean Cruises's payout ratio is presently 16.44%.

Insider Buying and Selling

In other Royal Caribbean Cruises news, CAO Henry L. Pujol sold 6,723 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $208.51, for a total value of $1,401,812.73. Following the transaction, the chief accounting officer now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard D. Fain sold 25,000 shares of the firm's stock in a transaction that occurred on Wednesday, October 30th. The shares were 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 of the company's stock, valued at $42,953,500.42. This trade represents a 10.89 % 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 ninety days. 7.95% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of RCL. Plato Investment Management Ltd purchased a new stake in shares of Royal Caribbean Cruises in the third quarter worth approximately $26,000. Unique Wealth Strategies LLC bought a new stake in Royal Caribbean Cruises during the second quarter worth $27,000. Safe Harbor Fiduciary LLC bought a new stake in Royal Caribbean Cruises during the third quarter worth $27,000. DiNuzzo Private Wealth Inc. raised its position in Royal Caribbean Cruises by 257.4% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 168 shares of the company's stock valued at $30,000 after buying an additional 121 shares during the last quarter. Finally, LRI Investments LLC bought a new position in Royal Caribbean Cruises during the 3rd quarter valued at $31,000. Institutional investors and hedge funds own 87.53% of the company's stock.

About Royal Caribbean Cruises

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.