Royal Caribbean Cruises (NYSE:RCL) Price Target Raised to $304.00 at Citigroup

Royal Caribbean Cruises (NYSE:RCL) had its price target raised by Citigroup from $283.00 to $304.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research firms have also recently weighed in on RCL. Barclays increased their price target on Royal Caribbean Cruises from $245.00 to $287.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Morgan Stanley increased their price target on Royal Caribbean Cruises from $190.00 to $210.00 and gave the stock an “equal weight” rating in a report on Wednesday, January 8th. Mizuho reiterated an “outperform” rating and set a $253.00 price target (down from $255.00) on shares of Royal Caribbean Cruises in a report on Thursday, January 23rd. JPMorgan Chase & Co. increased their price target on Royal Caribbean Cruises from $253.00 to $295.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. Finally, Stifel Nicolaus raised their target price on Royal Caribbean Cruises from $250.00 to $310.00 and gave the company a “buy” rating in a report on Friday, December 6th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $271.06.

Royal Caribbean Cruises Stock Up 1.3 %

Shares of NYSE:RCL opened at $268.77 on Wednesday. The company has a quick ratio of 0.16, a current ratio of 0.19 and a debt-to-equity ratio of 2.63. The business has a fifty day moving average of $238.47 and a two-hundred day moving average of $200.21. The stock has a market cap of $72.27 billion, a P/E ratio of 27.62, a PEG ratio of 0.50 and a beta of 2.59. Royal Caribbean Cruises has a 52-week low of $113.10 and a 52-week high of $271.31.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings results on Tuesday, January 28th. The company reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.13. Royal Caribbean Cruises had a return on equity of 52.92% and a net margin of 16.21%. During the same quarter in the previous year, the firm posted $1.25 earnings per share. On average, research analysts expect that Royal Caribbean Cruises will post 11.66 earnings per share for the current year.

Royal Caribbean Cruises Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Friday, December 27th were given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date was Friday, December 27th. Royal Caribbean Cruises’s dividend payout ratio is currently 22.61%.

Insider Transactions at Royal Caribbean Cruises

In other news, EVP Harri U. Kulovaara sold 3,256 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $234.62, for a total transaction of $763,922.72. Following the sale, the executive vice president now owns 22,348 shares of the company’s stock, valued at approximately $5,243,287.76. This trade represents a 12.72 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Arne Alexander Wilhelmsen sold 139,353 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $237.89, for a total value of $33,150,685.17. Following the transaction, the director now owns 18,167,507 shares in the company, valued at $4,321,868,240.23. This represents a 0.76 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 372,609 shares of company stock valued at $87,647,208. Corporate insiders own 7.95% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Park Avenue Securities LLC grew its stake in Royal Caribbean Cruises by 20.1% during the 4th quarter. Park Avenue Securities LLC now owns 6,630 shares of the company’s stock worth $1,530,000 after buying an additional 1,111 shares during the last quarter. Sanctuary Advisors LLC grew its stake 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 valued at $5,142,000 after purchasing an additional 12,530 shares during the last quarter. Wedge Capital Management L L P NC grew its stake in shares of Royal Caribbean Cruises by 2.6% in the 3rd quarter. Wedge Capital Management L L P NC now owns 289,518 shares of the company’s stock valued at $51,349,000 after purchasing an additional 7,298 shares during the last quarter. Souders Financial Advisors purchased a new position in shares of Royal Caribbean Cruises in the 3rd quarter valued at approximately $800,000. Finally, Merit Financial Group LLC grew its stake in shares of Royal Caribbean Cruises by 541.0% in the 4th quarter. Merit Financial Group LLC now owns 9,897 shares of the company’s stock valued at $2,283,000 after purchasing an additional 8,353 shares during the last quarter. Hedge funds and other institutional investors own 87.53% of the company’s stock.

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.