Royal Caribbean Cruises Ltd. (NYSE:RCL - Get Free Report)'s stock price traded down 8.3% during trading on Tuesday . The company traded as low as $221.23 and last traded at $221.00. 1,821,178 shares changed hands during trading, a decline of 27% from the average session volume of 2,483,354 shares. The stock had previously closed at $241.12.
Analyst Upgrades and Downgrades
RCL has been the subject of a number of research reports. Susquehanna dropped their price objective on Royal Caribbean Cruises from $305.00 to $295.00 and set a "positive" rating for the company in a research note on Wednesday. Bank of America boosted 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. Stifel Nicolaus raised their price objective on shares of Royal Caribbean Cruises from $250.00 to $310.00 and gave the company a "buy" rating in a research note on Friday, December 6th. Citigroup upped their target price on shares of Royal Caribbean Cruises from $283.00 to $304.00 and gave the stock a "buy" rating in a research note on Wednesday, January 29th. Finally, JPMorgan Chase & Co. upped their target price on shares of Royal Caribbean Cruises from $253.00 to $295.00 and gave the stock an "overweight" rating in a research note on Friday, January 17th. Three investment analysts have rated the stock with a hold rating and fifteen have assigned 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 $283.53.
Read Our Latest Analysis on Royal Caribbean Cruises
Royal Caribbean Cruises Price Performance
The company has a market cap of $57.48 billion, a price-to-earnings ratio of 19.98, a price-to-earnings-growth ratio of 0.90 and a beta of 2.53. The company has a fifty day simple moving average of $243.51 and a two-hundred day simple moving average of $218.26. The company has a quick ratio of 0.15, a current ratio of 0.17 and a debt-to-equity ratio of 2.39.
Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last posted its earnings results on Tuesday, January 28th. The company reported $1.63 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.50 by $0.13. Royal Caribbean Cruises had a return on equity of 48.97% and a net margin of 17.46%. During the same period last year, the company posted $1.25 EPS. On average, equities research analysts anticipate that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current fiscal year.
Royal Caribbean Cruises Increases Dividend
The company also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 7th will be paid a dividend of $0.75 per share. This is a boost from Royal Caribbean Cruises's previous quarterly dividend of $0.55. This represents a $3.00 annualized dividend and a dividend yield of 1.40%. The ex-dividend date is Friday, March 7th. Royal Caribbean Cruises's dividend payout ratio (DPR) is currently 28.06%.
Royal Caribbean Cruises announced that its board has initiated a stock buyback program on Wednesday, February 12th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to purchase up to 1.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company's board of directors believes its shares are undervalued.
Insider Buying and Selling
In other Royal Caribbean Cruises news, Director Richard D. Fain sold 19,500 shares of the firm's stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $256.68, for a total value of $5,005,260.00. Following the sale, the director now directly owns 185,021 shares of the company's stock, valued at approximately $47,491,190.28. This trade represents a 9.53 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Naftali Holtz sold 17,000 shares of the firm's stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $261.62, for a total value of $4,447,540.00. Following the completion of the sale, the chief financial officer now directly owns 42,127 shares in the company, valued at approximately $11,021,265.74. The trade was a 28.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 109,492 shares of company stock worth $28,571,705. 7.95% of the stock is owned by insiders.
Hedge Funds Weigh In On Royal Caribbean Cruises
Hedge funds have recently made changes to their positions in the stock. Venturi Wealth Management LLC boosted its holdings in shares of Royal Caribbean Cruises by 511.0% in the 4th quarter. Venturi Wealth Management LLC now owns 2,157 shares of the company's stock valued at $498,000 after purchasing an additional 1,804 shares during the last quarter. Park Avenue Securities LLC raised its holdings in shares of Royal Caribbean Cruises by 20.1% in the 4th quarter. Park Avenue Securities LLC now owns 6,630 shares of the company's stock worth $1,530,000 after purchasing an additional 1,111 shares during the period. Sanctuary Advisors LLC raised its holdings in shares of Royal Caribbean Cruises by 76.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 28,991 shares of the company's stock worth $5,142,000 after purchasing an additional 12,530 shares during the period. Lorne Steinberg Wealth Management Inc. purchased a new position in shares of Royal Caribbean Cruises in the 4th quarter worth about $231,000. Finally, Principal Financial Group Inc. raised its holdings in shares of Royal Caribbean Cruises by 2.7% in the 4th quarter. Principal Financial Group Inc. now owns 291,027 shares of the company's stock worth $67,137,000 after purchasing an additional 7,740 shares during the period. Institutional investors and hedge funds own 87.53% of the company's stock.
About Royal Caribbean Cruises
(
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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.
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