Royal Caribbean Cruises Ltd. (NYSE:RCL) Receives Consensus Rating of “Moderate Buy” from Brokerages

Royal Caribbean Cruises Ltd. (NYSE:RCL) has been given a consensus recommendation of “Moderate Buy” by the seventeen research firms that are currently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and fifteen have given a buy recommendation to the company. The average 12 month price target among brokerages that have issued ratings on the stock in the last year is $283.53.

A number of research analysts have recently weighed in on the company. Susquehanna cut their price objective on Royal Caribbean Cruises from $305.00 to $295.00 and set a “positive” rating for the company in a research report on Wednesday, March 5th. Citigroup raised their price target on Royal Caribbean Cruises from $283.00 to $304.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Sanford C. Bernstein initiated coverage on Royal Caribbean Cruises in a report on Tuesday, November 26th. They set an “outperform” rating and a $290.00 price objective on the stock. JPMorgan Chase & Co. increased their target price on Royal Caribbean Cruises from $253.00 to $295.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Finally, Macquarie boosted their price target on shares of Royal Caribbean Cruises from $250.00 to $300.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th.

Royal Caribbean Cruises Stock Up 4.8 %

NYSE RCL opened at $225.83 on Tuesday. Royal Caribbean Cruises has a 12 month low of $125.06 and a 12 month high of $277.08. The company has a current ratio of 0.17, a quick ratio of 0.15 and a debt-to-equity ratio of 2.39. The stock has a market cap of $60.78 billion, a PE ratio of 21.13, a P/E/G ratio of 0.90 and a beta of 2.53. The stock’s 50 day moving average is $239.97 and its 200 day moving average is $222.52.

Royal Caribbean Cruises (NYSE:RCL) last issued its earnings results on Tuesday, January 28th. The company reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.13. Royal Caribbean Cruises had a net margin of 17.46% and a return on equity of 48.97%. During the same quarter last year, the business earned $1.25 earnings per share. Research analysts predict that Royal Caribbean Cruises will post 14.9 EPS for the current fiscal year.

Royal Caribbean Cruises declared that its board has initiated a share buyback plan on Wednesday, February 12th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to buy up to 1.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s leadership believes its shares are undervalued.

Royal Caribbean Cruises Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 7th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.33%. This is an increase from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. The ex-dividend date is Friday, March 7th. Royal Caribbean Cruises’s dividend payout ratio is presently 28.06%.

Insiders Place Their Bets

In other news, insider Laura H. Bethge sold 14,992 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $261.86, for a total value of $3,925,805.12. Following the transaction, the insider now directly owns 21,155 shares in the company, valued at approximately $5,539,648.30. This represents a 41.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Richard D. Fain sold 19,500 shares of Royal Caribbean Cruises stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $256.68, for a total transaction of $5,005,260.00. Following the sale, the director now owns 185,021 shares of the company’s stock, valued at $47,491,190.28. The trade was a 9.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 109,492 shares of company stock worth $28,571,705 over the last quarter. Company insiders own 7.95% of the company’s stock.

Institutional Trading of Royal Caribbean Cruises

Large investors have recently modified their holdings of the company. Thrivent Financial for Lutherans raised its position in Royal Caribbean Cruises by 11.0% during the 3rd quarter. Thrivent Financial for Lutherans now owns 23,040 shares of the company’s stock valued at $4,086,000 after purchasing an additional 2,286 shares in the last quarter. Raymond James Trust N.A. purchased a new position in shares of Royal Caribbean Cruises during the third quarter valued at $202,000. Cerity Partners LLC raised its holdings in shares of Royal Caribbean Cruises by 48.7% in the third quarter. Cerity Partners LLC now owns 31,812 shares of the company’s stock valued at $5,642,000 after acquiring an additional 10,412 shares in the last quarter. Summit Trail Advisors LLC lifted its stake in Royal Caribbean Cruises by 34.1% in the third quarter. Summit Trail Advisors LLC now owns 2,744 shares of the company’s stock worth $488,000 after acquiring an additional 698 shares during the period. Finally, Prosperity Financial Group Inc. grew its holdings in Royal Caribbean Cruises by 9.9% during the 3rd quarter. Prosperity Financial Group Inc. now owns 5,707 shares of the company’s stock worth $1,012,000 after acquiring an additional 512 shares in the last quarter. Hedge funds and other institutional investors own 87.53% of the company’s stock.

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.