Royal Caribbean Cruises (NYSE:RCL) Given New $287.00 Price Target at Barclays

Royal Caribbean Cruises (NYSE:RCL) had its target price raised by Barclays from $245.00 to $287.00 in a research report sent to investors on Friday,Benzinga reports. Barclays currently has an overweight rating on the stock.

Several other brokerages have also weighed in on RCL. Citigroup lifted their price target on Royal Caribbean Cruises from $257.00 to $283.00 and gave the company a “buy” rating in a research note on Wednesday. Stifel Nicolaus boosted their price objective on Royal Caribbean Cruises from $250.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, December 6th. StockNews.com raised shares of Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a research note on Tuesday, November 26th. 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 report on Wednesday, October 30th. Finally, Truist Financial increased their price objective on shares of Royal Caribbean Cruises from $204.00 to $272.00 and gave the company a “buy” rating in a report on Monday, December 2nd. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Royal Caribbean Cruises has an average rating of “Moderate Buy” and a consensus price target of $239.75.

Royal Caribbean Cruises Price Performance

Shares of RCL opened at $245.26 on Friday. The company has a market capitalization of $65.94 billion, a P/E ratio of 25.21, a P/E/G ratio of 0.65 and a beta of 2.59. The business’s 50-day moving average is $222.37 and its two-hundred day moving average is $181.90. The company has a debt-to-equity ratio of 2.63, a quick ratio of 0.16 and a current ratio of 0.19. Royal Caribbean Cruises has a fifty-two week low of $113.10 and a fifty-two week high of $258.70.

Royal Caribbean Cruises (NYSE:RCL) 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 company had revenue of $4.89 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 17.5% on a year-over-year basis. During the same period last year, the business earned $3.85 earnings per share. Research analysts predict that Royal Caribbean Cruises will post 11.65 earnings per share for the current 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 issued a $0.55 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $2.20 annualized dividend and a yield of 0.90%. Royal Caribbean Cruises’s dividend payout ratio (DPR) is presently 22.61%.

Insider Transactions at Royal Caribbean Cruises

In related news, Director Arne Alexander Wilhelmsen sold 139,353 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $237.89, for a total transaction 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 represents a 0.76 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Henry L. Pujol sold 6,723 shares of the business’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $208.51, for a total transaction of $1,401,812.73. Following the completion of the transaction, the chief accounting officer now owns 9,964 shares of the company’s stock, valued at approximately $2,077,593.64. This trade represents a 40.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 404,332 shares of company stock worth $94,299,521 over the last ninety days. Company insiders own 7.95% of the company’s stock.

Institutional Investors Weigh In On Royal Caribbean Cruises

A number of hedge funds have recently bought and sold shares of the stock. Envestnet Portfolio Solutions Inc. raised its holdings in Royal Caribbean Cruises by 20.2% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 8,215 shares of the company’s stock valued at $1,310,000 after acquiring an additional 1,381 shares in the last quarter. Swedbank AB purchased a new stake in shares of Royal Caribbean Cruises during the 2nd quarter worth $402,000. Assenagon Asset Management S.A. grew its stake in shares of Royal Caribbean Cruises by 17.9% during the second quarter. Assenagon Asset Management S.A. now owns 5,201 shares of the company’s stock worth $829,000 after purchasing an additional 789 shares in the last quarter. Blue Trust Inc. raised its stake in Royal Caribbean Cruises by 168.5% in the second quarter. Blue Trust Inc. now owns 384 shares of the company’s stock valued at $61,000 after buying an additional 241 shares in the last quarter. Finally, Brookstone Capital Management lifted its holdings in Royal Caribbean Cruises by 3.7% during the 2nd quarter. Brookstone Capital Management now owns 6,470 shares of the company’s stock worth $1,064,000 after buying an additional 231 shares during 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.