Royal Caribbean Cruises (NYSE:RCL) Given New $295.00 Price Target at JPMorgan Chase & Co.

Royal Caribbean Cruises (NYSE:RCL) had its target price hoisted by JPMorgan Chase & Co. from $253.00 to $295.00 in a research report report published on Friday morning,Benzinga reports. They currently have an overweight rating on the stock.

A number of other brokerages also recently commented on RCL. StockNews.com upgraded Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a research note on Tuesday, November 26th. Morgan Stanley upped their price objective on Royal Caribbean Cruises from $190.00 to $210.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 8th. Macquarie lifted their target price on shares of Royal Caribbean Cruises from $189.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Stifel Nicolaus increased their price target on shares of Royal Caribbean Cruises from $250.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, December 6th. Finally, Tigress Financial lifted their price objective on shares of Royal Caribbean Cruises from $210.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $246.50.

Royal Caribbean Cruises Stock Performance

RCL opened at $241.79 on Friday. 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 has a 12-month low of $113.10 and a 12-month high of $258.70. The firm has a 50 day moving average of $237.01 and a two-hundred day moving average of $195.08. The firm has a market capitalization of $65.01 billion, a PE ratio of 24.85, a P/E/G ratio of 0.48 and a beta of 2.59.

Royal Caribbean Cruises (NYSE:RCL) last issued its earnings results on Tuesday, October 29th. The company reported $5.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.05 by $0.15. Royal Caribbean Cruises had a net margin of 16.21% and a return on equity of 52.92%. The firm had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $4.89 billion. During the same quarter last year, the company posted $3.85 earnings per share. The firm’s revenue was up 17.5% compared to the same quarter last year. On average, analysts anticipate that Royal Caribbean Cruises will post 11.65 EPS for the current year.

Royal Caribbean Cruises Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Friday, December 27th were given a $0.55 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $2.20 annualized dividend and a dividend yield of 0.91%. 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 Richard D. Fain sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $210.02, for a total value of $5,250,500.00. Following the transaction, the director now directly owns 204,521 shares of the company’s stock, valued at $42,953,500.42. This trade represents a 10.89 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Arne Alexander Wilhelmsen sold 230,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $233.62, for a total value of $53,732,600.00. Following the transaction, the director now owns 18,556,860 shares in the company, valued at approximately $4,335,253,633.20. This represents a 1.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 404,332 shares of company stock valued at $94,299,521 over the last ninety days. Insiders own 7.95% of the company’s stock.

Hedge Funds Weigh In On Royal Caribbean Cruises

Institutional investors have recently added to or reduced their stakes in the stock. Plato Investment Management Ltd acquired a new stake in shares of Royal Caribbean Cruises in the 3rd quarter worth $26,000. Safe Harbor Fiduciary LLC purchased a new stake in shares of Royal Caribbean Cruises in the third quarter valued at about $27,000. DiNuzzo Private Wealth Inc. increased its position in Royal Caribbean Cruises by 257.4% during the third quarter. DiNuzzo Private Wealth Inc. now owns 168 shares of the company’s stock worth $30,000 after purchasing an additional 121 shares during the last quarter. LRI Investments LLC purchased a new position in Royal Caribbean Cruises during the third quarter worth about $31,000. Finally, ORG Wealth Partners LLC acquired a new position in Royal Caribbean Cruises in the 4th quarter valued at about $40,000. Hedge funds and other institutional investors 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.