The Goldman Sachs Group Lowers Royal Caribbean Cruises (NYSE:RCL) Price Target to $270.00

Royal Caribbean Cruises (NYSE:RCL - Free Report) had its price objective decreased by The Goldman Sachs Group from $275.00 to $270.00 in a research note published on Friday morning,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

A number of other research firms have also weighed in on RCL. Wells Fargo & Company boosted their price target 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. Morgan Stanley upped their price target on Royal Caribbean Cruises from $190.00 to $210.00 and gave the company an "equal weight" rating in a research report on Wednesday, January 8th. Citigroup increased their price target on Royal Caribbean Cruises from $257.00 to $283.00 and gave the company a "buy" rating in a report on Wednesday, December 11th. JPMorgan Chase & Co. boosted their price objective on Royal Caribbean Cruises from $253.00 to $295.00 and gave the stock an "overweight" rating in a research note on Friday, January 17th. Finally, Tigress Financial raised their target price on Royal Caribbean Cruises from $210.00 to $270.00 and gave the stock a "buy" rating in a research note on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $249.81.

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Royal Caribbean Cruises Stock Performance

RCL traded down $5.56 on Friday, reaching $232.59. The stock had a trading volume of 2,721,983 shares, compared to its average volume of 1,604,007. The business's 50-day moving average price is $237.76 and its two-hundred day moving average price is $198.49. The company has a market cap of $62.54 billion, a P/E ratio of 23.90, a price-to-earnings-growth ratio of 0.50 and a beta of 2.59. Royal Caribbean Cruises has a 12-month low of $113.10 and a 12-month high of $258.70. 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 (NYSE:RCL - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $5.20 earnings per share 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 analyst estimates of $4.89 billion. Royal Caribbean Cruises had a return on equity of 52.92% and a net margin of 16.21%. Royal Caribbean Cruises's revenue for the quarter was up 17.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.85 EPS. Sell-side analysts forecast that Royal Caribbean Cruises will post 11.66 earnings per share for the current year.

Royal Caribbean Cruises Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Friday, December 27th were paid a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.20 dividend on an annualized basis and a yield of 0.95%. Royal Caribbean Cruises's dividend payout ratio (DPR) is presently 22.61%.

Insider Transactions at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, Director Arne Alexander Wilhelmsen sold 230,000 shares of the company's stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $233.62, for a total transaction of $53,732,600.00. Following the sale, the director now owns 18,556,860 shares in the company, valued at $4,335,253,633.20. This represents a 1.22 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Harri U. Kulovaara sold 3,256 shares of the stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $234.62, for a total value of $763,922.72. Following the completion of the sale, the executive vice president now directly owns 22,348 shares in the company, 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 have sold 404,332 shares of company stock valued at $94,299,521. 7.95% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Childress Capital Advisors LLC acquired a new position in shares of Royal Caribbean Cruises during the 4th quarter worth about $246,000. Optas LLC acquired a new position in Royal Caribbean Cruises in the fourth quarter valued at approximately $244,000. CENTRAL TRUST Co boosted its holdings in Royal Caribbean Cruises by 329.6% in the fourth quarter. CENTRAL TRUST Co now owns 4,283 shares of the company's stock valued at $988,000 after purchasing an additional 3,286 shares in the last quarter. McAdam LLC purchased a new position in Royal Caribbean Cruises in the fourth quarter valued at approximately $267,000. Finally, U.S. Capital Wealth Advisors LLC raised its holdings in Royal Caribbean Cruises by 564.2% during the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 19,242 shares of the company's stock worth $4,439,000 after purchasing an additional 16,345 shares in the last quarter. 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.