Royal Caribbean Cruises (NYSE:RCL) Price Target Raised to $253.00 at Citigroup

Royal Caribbean Cruises (NYSE:RCL) had its price objective boosted by Citigroup from $204.00 to $253.00 in a research report sent to investors on Wednesday morning, MarketBeat reports. They currently have a buy rating on the stock.

Several other equities analysts have also recently commented on RCL. Bank of America increased their target price on Royal Caribbean Cruises from $145.00 to $172.00 and gave the company a neutral rating in a research note on Tuesday, July 23rd. The Goldman Sachs Group boosted their target price on shares of Royal Caribbean Cruises from $170.00 to $195.00 and gave the stock a buy rating in a research report on Wednesday, July 17th. Morgan Stanley increased their price target on shares of Royal Caribbean Cruises from $140.00 to $154.00 and gave the stock an equal weight rating in a research report on Wednesday, August 7th. Macquarie upped their price objective on Royal Caribbean Cruises from $165.00 to $189.00 and gave the company an outperform rating in a research note on Tuesday, July 30th. Finally, JPMorgan Chase & Co. increased their target price on Royal Caribbean Cruises from $210.00 to $213.00 and gave the stock an overweight rating in a report on Monday, September 16th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, Royal Caribbean Cruises presently has an average rating of Moderate Buy and a consensus price target of $189.06.

Royal Caribbean Cruises Price Performance

RCL opened at $195.64 on Wednesday. Royal Caribbean Cruises has a twelve month low of $78.35 and a twelve month high of $196.07. The company has a current ratio of 0.19, a quick ratio of 0.17 and a debt-to-equity ratio of 3.20. The firm has a market cap of $50.35 billion, a price-to-earnings ratio of 21.33, a PEG ratio of 0.55 and a beta of 2.61. The company has a fifty day simple moving average of $166.77 and a 200 day simple moving average of $154.52.

Royal Caribbean Cruises (NYSE:RCL) last announced its earnings results on Thursday, July 25th. The company reported $3.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.76 by $0.45. The business had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.05 billion. Royal Caribbean Cruises had a return on equity of 52.49% and a net margin of 16.32%. The company’s revenue for the quarter was up 16.4% compared to the same quarter last year. During the same period in the previous year, the company earned $1.82 earnings per share. Equities research analysts expect that Royal Caribbean Cruises will post 11.63 EPS for the current fiscal year.

Royal Caribbean Cruises Announces Dividend

The company also recently declared a — dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 20th were given a dividend of $0.40 per share. The ex-dividend date of this dividend was Friday, September 20th. Royal Caribbean Cruises’s dividend payout ratio is currently 17.45%.

Insider Activity at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, insider Laura H. Bethge sold 3,073 shares of the company’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $168.71, for a total value of $518,445.83. Following the completion of the transaction, the insider now owns 27,388 shares in the company, valued at approximately $4,620,629.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Royal Caribbean Cruises news, insider Laura H. Bethge sold 3,073 shares of the business’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $168.71, for a total transaction of $518,445.83. Following the completion of the transaction, the insider now owns 27,388 shares in the company, valued at approximately $4,620,629.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Naftali Holtz purchased 5,350 shares of the stock in a transaction dated Friday, August 2nd. The shares were acquired at an average cost of $140.00 per share, for a total transaction of $749,000.00. Following the completion of the acquisition, the chief financial officer now directly owns 48,256 shares of the company’s stock, valued at approximately $6,755,840. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 7.95% of the stock is currently owned by insiders.

Institutional Trading of Royal Caribbean Cruises

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Creative Planning increased its position in shares of Royal Caribbean Cruises by 12.8% during the 3rd quarter. Creative Planning now owns 38,119 shares of the company’s stock valued at $6,761,000 after purchasing an additional 4,311 shares during the period. Wedge Capital Management L L P NC grew its holdings in Royal Caribbean Cruises by 2.6% during the third quarter. Wedge Capital Management L L P NC now owns 289,518 shares of the company’s stock worth $51,349,000 after acquiring an additional 7,298 shares during the period. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH raised its position in Royal Caribbean Cruises by 6.9% in the third quarter. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH now owns 11,364 shares of the company’s stock worth $2,016,000 after acquiring an additional 735 shares in the last quarter. Redhawk Wealth Advisors Inc. lifted its holdings in Royal Caribbean Cruises by 7.3% in the 3rd quarter. Redhawk Wealth Advisors Inc. now owns 8,552 shares of the company’s stock valued at $1,517,000 after acquiring an additional 581 shares during the last quarter. Finally, Sound Income Strategies LLC boosted its position in shares of Royal Caribbean Cruises by 25.9% during the 3rd quarter. Sound Income Strategies LLC now owns 486 shares of the company’s stock valued at $86,000 after purchasing an additional 100 shares in the last quarter. 87.53% of the stock is currently owned by institutional investors.

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.