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

Royal Caribbean Cruises (NYSE:RCL) had its price target hoisted by Citigroup from $204.00 to $253.00 in a research note issued to investors on Wednesday morning, Marketbeat.com reports. Citigroup currently has a buy rating on the stock.

RCL has been the topic of a number of other reports. The Goldman Sachs Group raised their price objective on shares of Royal Caribbean Cruises from $170.00 to $195.00 and gave the stock a buy rating in a report on Wednesday, July 17th. Susquehanna raised their price objective on shares of Royal Caribbean Cruises from $160.00 to $180.00 and gave the stock a positive rating in a report on Tuesday, July 30th. Barclays raised their price objective on shares of Royal Caribbean Cruises from $185.00 to $195.00 and gave the stock an overweight rating in a report on Friday, July 26th. Mizuho raised their price objective on shares of Royal Caribbean Cruises from $168.00 to $195.00 and gave the stock an outperform rating in a report on Friday, July 26th. Finally, UBS Group raised their price objective on shares of Royal Caribbean Cruises from $168.00 to $183.00 and gave the stock a buy rating in a report on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $189.06.

Royal Caribbean Cruises Trading Up 1.1 %

RCL opened at $195.69 on Wednesday. The firm’s fifty day moving average is $166.77 and its two-hundred day moving average is $154.64. The company has a debt-to-equity ratio of 3.20, a quick ratio of 0.17 and a current ratio of 0.19. The firm has a market cap of $50.36 billion, a PE ratio of 21.34, a price-to-earnings-growth ratio of 0.55 and a beta of 2.61. Royal Caribbean Cruises has a twelve month low of $78.35 and a twelve month high of $196.07.

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

Royal Caribbean Cruises Dividend Announcement

The company also recently disclosed a — dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 20th were given a $0.40 dividend. The ex-dividend date was Friday, September 20th. Royal Caribbean Cruises’s dividend payout ratio (DPR) is presently 17.45%.

Insider Activity

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

Institutional Trading of Royal Caribbean Cruises

Hedge funds and other institutional investors have recently modified their holdings of the stock. Scarborough Advisors LLC bought a new stake in shares of Royal Caribbean Cruises during the 4th quarter worth about $26,000. Unique Wealth Strategies LLC acquired a new stake in Royal Caribbean Cruises in the 2nd quarter worth about $27,000. Creekmur Asset Management LLC acquired a new stake in Royal Caribbean Cruises in the 4th quarter worth about $30,000. Versant Capital Management Inc raised its stake in Royal Caribbean Cruises by 905.3% in the 2nd quarter. Versant Capital Management Inc now owns 191 shares of the company’s stock worth $30,000 after purchasing an additional 172 shares in the last quarter. Finally, AlphaMark Advisors LLC raised its stake in Royal Caribbean Cruises by 233.3% in the 2nd quarter. AlphaMark Advisors LLC now owns 200 shares of the company’s stock worth $32,000 after purchasing an additional 140 shares in the last quarter. 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.