Royal Caribbean Cruises (NYSE:RCL) Given “Outperform” Rating at Mizuho

Mizuho restated their outperform rating on shares of Royal Caribbean Cruises (NYSE:RCL) in a report released on Thursday morning,Benzinga reports. They currently have a $253.00 price objective on the stock, down from their previous price objective of $255.00.

RCL has been the subject of several other research reports. Citigroup upped their price target on shares of Royal Caribbean Cruises from $257.00 to $283.00 and gave the company a “buy” rating in a research report on Wednesday, December 11th. Stifel Nicolaus increased their target price on shares of Royal Caribbean Cruises from $250.00 to $310.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Macquarie boosted their price target on Royal Caribbean Cruises from $189.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Tigress Financial increased their price objective on Royal Caribbean Cruises from $210.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Finally, The Goldman Sachs Group boosted their target price on Royal Caribbean Cruises from $245.00 to $275.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $250.13.

Royal Caribbean Cruises Price Performance

Shares of NYSE:RCL opened at $238.40 on Thursday. Royal Caribbean Cruises has a 12 month low of $113.10 and a 12 month high of $258.70. The firm has a market capitalization of $64.10 billion, a P/E ratio of 24.50, a P/E/G ratio of 0.52 and a beta of 2.59. The company has a debt-to-equity ratio of 2.63, a current ratio of 0.19 and a quick ratio of 0.16. The company’s fifty day moving average price is $237.63 and its 200 day moving average price is $197.71.

Royal Caribbean Cruises (NYSE:RCL) last posted its earnings results on Tuesday, October 29th. The company reported $5.20 earnings per share for the quarter, beating the consensus estimate of $5.05 by $0.15. The business had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $4.89 billion. Royal Caribbean Cruises had a return on equity of 52.92% and a net margin of 16.21%. The business’s quarterly revenue was up 17.5% on a year-over-year basis. During the same period in the previous year, the business earned $3.85 EPS. As a group, sell-side analysts predict that Royal Caribbean Cruises will post 11.66 earnings per share for the current fiscal year.

Royal Caribbean Cruises Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Friday, December 27th were paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend was Friday, December 27th. Royal Caribbean Cruises’s dividend payout ratio (DPR) is 22.61%.

Insider Buying and Selling

In related news, Director Arne Alexander Wilhelmsen sold 230,000 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $233.62, for a total value of $53,732,600.00. Following the sale, the director now directly owns 18,556,860 shares of the company’s stock, valued at approximately $4,335,253,633.20. This represents a 1.22 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard D. Fain sold 25,000 shares of Royal Caribbean Cruises stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $210.02, for a total transaction of $5,250,500.00. Following the transaction, the director now owns 204,521 shares of the company’s stock, valued at approximately $42,953,500.42. The trade was a 10.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 404,332 shares of company stock worth $94,299,521 in the last quarter. Company insiders own 7.95% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Plato Investment Management Ltd acquired a new stake in Royal Caribbean Cruises during the 3rd quarter valued at $26,000. Safe Harbor Fiduciary LLC acquired a new stake in shares of Royal Caribbean Cruises during the third quarter valued at $27,000. DiNuzzo Private Wealth Inc. increased its position in Royal Caribbean Cruises by 257.4% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 168 shares of the company’s stock worth $30,000 after purchasing an additional 121 shares in the last quarter. LRI Investments LLC acquired a new position in Royal Caribbean Cruises in the 3rd quarter valued at about $31,000. Finally, ORG Wealth Partners LLC purchased a new position in Royal Caribbean Cruises in the 4th quarter valued at about $40,000. 87.53% of the stock is owned by hedge funds and other 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.