Royal Caribbean Cruises (NYSE:RCL) Price Target Raised to $360.00

Royal Caribbean Cruises (NYSE:RCL) had its price target lifted by Sanford C. Bernstein from $290.00 to $360.00 in a report published on Wednesday morning,Benzinga reports. They currently have an outperform rating on the stock.

RCL has been the topic of several other reports. Jefferies Financial Group initiated coverage on Royal Caribbean Cruises in a research report on Monday, March 31st. They issued a “hold” rating and a $230.00 price target on the stock. Macquarie lowered their price objective on Royal Caribbean Cruises from $300.00 to $265.00 and set an “outperform” rating on the stock in a research report on Friday, May 9th. Wall Street Zen cut Royal Caribbean Cruises from a “buy” rating to a “hold” rating in a research report on Saturday, June 28th. The Goldman Sachs Group lowered their price objective on Royal Caribbean Cruises from $305.00 to $245.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. Finally, Barclays boosted their price objective on Royal Caribbean Cruises from $249.00 to $263.00 and gave the company an “overweight” rating in a research report on Wednesday, April 30th. Four investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $280.40.

Royal Caribbean Cruises Stock Performance

Shares of NYSE RCL opened at $334.10 on Wednesday. The company has a quick ratio of 0.15, a current ratio of 0.18 and a debt-to-equity ratio of 2.21. The business’s 50 day moving average is $261.08 and its two-hundred day moving average is $238.89. The company has a market cap of $90.73 billion, a P/E ratio of 27.75, a P/E/G ratio of 0.99 and a beta of 2.17. Royal Caribbean Cruises has a 12 month low of $130.08 and a 12 month high of $334.48.

Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $2.71 EPS for the quarter, topping the consensus estimate of $2.53 by $0.18. The company had revenue of $4 billion for the quarter, compared to the consensus estimate of $4.02 billion. Royal Caribbean Cruises had a return on equity of 47.89% and a net margin of 19.38%. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.77 EPS. On average, equities analysts expect that Royal Caribbean Cruises will post 14.9 EPS for the current year.

Royal Caribbean Cruises Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 4th were given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 0.90%. Royal Caribbean Cruises’s dividend payout ratio (DPR) is 24.92%.

Insiders Place Their Bets

In other Royal Caribbean Cruises news, Director Richard D. Fain sold 19,600 shares of the business’s stock in a transaction on Monday, May 19th. The stock was sold at an average price of $253.10, for a total value of $4,960,760.00. Following the transaction, the director owned 165,421 shares of the company’s stock, valued at approximately $41,868,055.10. The trade was a 10.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 6.95% of the stock is owned by company insiders.

Hedge Funds Weigh In On Royal Caribbean Cruises

A number of institutional investors and hedge funds have recently bought and sold shares of RCL. Brighton Jones LLC boosted its stake in Royal Caribbean Cruises by 12.2% in the fourth quarter. Brighton Jones LLC now owns 1,312 shares of the company’s stock worth $303,000 after purchasing an additional 143 shares in the last quarter. Fisher Asset Management LLC acquired a new position in Royal Caribbean Cruises in the fourth quarter worth $8,055,000. US Bancorp DE boosted its stake in Royal Caribbean Cruises by 3.2% in the fourth quarter. US Bancorp DE now owns 16,383 shares of the company’s stock worth $3,779,000 after purchasing an additional 502 shares in the last quarter. SRS Capital Advisors Inc. boosted its stake in Royal Caribbean Cruises by 103.6% in the fourth quarter. SRS Capital Advisors Inc. now owns 503 shares of the company’s stock worth $116,000 after purchasing an additional 256 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its stake in Royal Caribbean Cruises by 61.7% in the fourth quarter. Jones Financial Companies Lllp now owns 15,786 shares of the company’s stock worth $3,642,000 after purchasing an additional 6,026 shares in the last quarter. Institutional investors and hedge funds 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.