Royal Caribbean Cruises (NYSE:RCL) Stock Rating Upgraded by StockNews.com

StockNews.com upgraded shares of Royal Caribbean Cruises (NYSE:RCL) from a sell rating to a hold rating in a research note issued to investors on Friday morning.

A number of other brokerages have also recently commented on RCL. Susquehanna lifted their price objective on Royal Caribbean Cruises from $160.00 to $180.00 and gave the stock a positive rating in a research note on Tuesday, July 30th. Barclays lifted their price objective on Royal Caribbean Cruises from $185.00 to $195.00 and gave the stock an overweight rating in a research note on Friday, July 26th. Tigress Financial lifted their price objective on Royal Caribbean Cruises from $155.00 to $210.00 and gave the stock a buy rating in a research note on Friday, August 2nd. The Goldman Sachs Group boosted their target price on Royal Caribbean Cruises from $170.00 to $195.00 and gave the company a buy rating in a research note on Wednesday, July 17th. Finally, Bank of America boosted 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. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of Moderate Buy and a consensus target price of $182.13.

Royal Caribbean Cruises Stock Down 0.9 %

NYSE RCL opened at $156.55 on Friday. The stock has a fifty day moving average of $159.07 and a 200-day moving average of $146.06. The stock has a market capitalization of $40.29 billion, a P/E ratio of 20.17, a price-to-earnings-growth ratio of 0.47 and a beta of 2.61. Royal Caribbean Cruises has a 52 week low of $78.35 and a 52 week high of $173.37. The company has a debt-to-equity ratio of 3.20, a quick ratio of 0.17 and a current ratio of 0.19.

Royal Caribbean Cruises (NYSE:RCL) last released its earnings results on Thursday, July 25th. The company reported $3.21 EPS for the quarter, beating the consensus estimate of $2.76 by $0.45. The company had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.05 billion. Royal Caribbean Cruises had a return on equity of 52.49% and a net margin of 16.32%. The business’s revenue for the quarter was up 16.4% on a year-over-year basis. During the same period last year, the firm earned $1.82 EPS. On average, equities research analysts forecast that Royal Caribbean Cruises will post 11.65 EPS for the current year.

Royal Caribbean Cruises Announces Dividend

The company also recently announced a — dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 20th will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, September 20th. Royal Caribbean Cruises’s payout ratio is 20.62%.

Insider Transactions at Royal Caribbean Cruises

In other news, CFO Naftali Holtz purchased 5,350 shares of Royal Caribbean Cruises stock in a transaction that occurred on Friday, August 2nd. The stock was acquired at an average cost of $140.00 per share, for a total transaction of $749,000.00. Following the purchase, the chief financial officer now directly owns 48,256 shares of the company’s stock, valued at approximately $6,755,840. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Richard D. Fain sold 19,584 shares of Royal Caribbean Cruises stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $153.96, for a total transaction of $3,015,152.64. Following the completion of the sale, the director now owns 179,117 shares of the company’s stock, valued at $27,576,853.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Naftali Holtz bought 5,350 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were purchased at an average cost of $140.00 per share, with a total value of $749,000.00. Following the acquisition, the chief financial officer now directly owns 48,256 shares of the company’s stock, valued at approximately $6,755,840. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 28,457 shares of company stock worth $4,452,898. Company insiders own 7.95% of the company’s stock.

Institutional Investors Weigh In On Royal Caribbean Cruises

Hedge funds and other institutional investors have recently modified their holdings of the company. Blair William & Co. IL raised its stake in Royal Caribbean Cruises by 37.4% in the first quarter. Blair William & Co. IL now owns 102,133 shares of the company’s stock valued at $14,197,000 after purchasing an additional 27,819 shares in the last quarter. Keystone Financial Group acquired a new position in Royal Caribbean Cruises during the fourth quarter worth about $209,000. Quadrant Capital Group LLC raised its stake in Royal Caribbean Cruises by 19.0% during the fourth quarter. Quadrant Capital Group LLC now owns 1,788 shares of the company’s stock worth $232,000 after acquiring an additional 285 shares in the last quarter. Franklin Resources Inc. grew its holdings in shares of Royal Caribbean Cruises by 12.0% during the fourth quarter. Franklin Resources Inc. now owns 166,632 shares of the company’s stock worth $21,577,000 after purchasing an additional 17,815 shares during the last quarter. Finally, QRG Capital Management Inc. grew its holdings in shares of Royal Caribbean Cruises by 17.2% during the second quarter. QRG Capital Management Inc. now owns 38,613 shares of the company’s stock worth $6,156,000 after purchasing an additional 5,655 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.