Royal Caribbean Cruises (NYSE:RCL) Given New $210.00 Price Target at Morgan Stanley

Royal Caribbean Cruises (NYSE:RCL) had its target price increased by Morgan Stanley from $190.00 to $210.00 in a research note published on Wednesday,Benzinga reports. The firm currently has an equal weight rating on the stock.

A number of other research analysts have also issued reports on RCL. Barclays boosted their price objective on Royal Caribbean Cruises from $245.00 to $287.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Bank of America lifted their price objective on shares of Royal Caribbean Cruises from $210.00 to $240.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Macquarie upped their target price on shares of Royal Caribbean Cruises from $189.00 to $250.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Stifel Nicolaus boosted their price objective on Royal Caribbean Cruises from $250.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Finally, Sanford C. Bernstein started coverage on Royal Caribbean Cruises in a research report on Tuesday, November 26th. They set an “outperform” rating and a $290.00 price target for the company. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $243.25.

Royal Caribbean Cruises Stock Performance

RCL stock opened at $227.00 on Wednesday. The firm has a market cap of $61.03 billion, a P/E ratio of 23.33, a P/E/G ratio of 0.65 and a beta of 2.59. The stock’s 50 day simple moving average is $234.91 and its 200 day simple moving average is $192.39. 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.

Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $5.20 EPS for the quarter, beating 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 business had revenue of $4.89 billion during the quarter, compared to analyst estimates of $4.89 billion. During the same period in the previous year, the business posted $3.85 EPS. The company’s quarterly revenue was up 17.5% on a year-over-year basis. As a group, equities research analysts predict that Royal Caribbean Cruises will post 11.65 EPS for the current year.

Royal Caribbean Cruises Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Friday, December 27th will be given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 0.97%. The ex-dividend date of this dividend is Friday, December 27th. Royal Caribbean Cruises’s payout ratio is presently 22.61%.

Insider Buying and Selling at Royal Caribbean Cruises

In other news, Director Arne Alexander Wilhelmsen sold 139,353 shares of the business’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $237.89, for a total value of $33,150,685.17. Following the completion of the sale, the director now directly owns 18,167,507 shares in the company, valued at approximately $4,321,868,240.23. The trade was a 0.76 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Harri U. Kulovaara sold 3,256 shares of Royal Caribbean Cruises stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $234.62, for a total transaction of $763,922.72. Following the completion of the transaction, the executive vice president now owns 22,348 shares in the company, valued at $5,243,287.76. This trade represents a 12.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 404,332 shares of company stock worth $94,299,521 over the last ninety days. 7.95% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP increased its position in Royal Caribbean Cruises by 24.3% during the second quarter. Dimensional Fund Advisors LP now owns 2,048,501 shares of the company’s stock worth $326,616,000 after acquiring an additional 400,565 shares during the period. D1 Capital Partners L.P. raised its position in shares of Royal Caribbean Cruises by 3.8% during the third quarter. D1 Capital Partners L.P. now owns 1,570,262 shares of the company’s stock valued at $278,502,000 after buying an additional 58,159 shares during the last quarter. Swiss National Bank lifted its stake in shares of Royal Caribbean Cruises by 0.5% in the third quarter. Swiss National Bank now owns 725,638 shares of the company’s stock valued at $128,699,000 after buying an additional 3,800 shares during the period. Disciplined Growth Investors Inc. MN grew its position in Royal Caribbean Cruises by 2.3% during the third quarter. Disciplined Growth Investors Inc. MN now owns 591,552 shares of the company’s stock worth $104,918,000 after buying an additional 13,520 shares in the last quarter. Finally, APG Asset Management N.V. raised its holdings in Royal Caribbean Cruises by 4.0% in the 2nd quarter. APG Asset Management N.V. now owns 461,762 shares of the company’s stock valued at $68,690,000 after acquiring an additional 17,601 shares in the last quarter. 87.53% of the stock is 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.