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

Royal Caribbean Cruises Ltd. (NYSE:RCL) has been assigned a consensus rating of “Moderate Buy” from the seventeen analysts that are presently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold recommendation and fourteen have given a buy recommendation to the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $284.12.

Several brokerages recently weighed in on RCL. Citigroup increased their price objective on shares of Royal Caribbean Cruises from $283.00 to $304.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Mizuho reiterated an “outperform” rating and issued a $253.00 price objective (down from $255.00) on shares of Royal Caribbean Cruises in a research report on Thursday, January 23rd. Wells Fargo & Company increased their target price on Royal Caribbean Cruises from $232.00 to $272.00 and gave the stock an “overweight” rating in a report on Monday, January 27th. Sanford C. Bernstein began coverage on shares of Royal Caribbean Cruises in a report on Tuesday, November 26th. They issued an “outperform” rating and a $290.00 price objective on the stock. Finally, Macquarie lifted their target price on Royal Caribbean Cruises from $250.00 to $300.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th.

Insider Activity at Royal Caribbean Cruises

In other news, Director Richard D. Fain sold 19,500 shares of the stock in a transaction dated Thursday, February 13th. The shares were sold at an average price of $256.68, for a total value of $5,005,260.00. Following the completion of the sale, the director now owns 185,021 shares in the company, valued at $47,491,190.28. This represents a 9.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Jason T. Liberty sold 58,000 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $261.95, for a total value of $15,193,100.00. Following the sale, the chief executive officer now directly owns 143,214 shares of the company’s stock, valued at $37,514,907.30. The trade was a 28.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 109,492 shares of company stock valued at $28,571,705 in the last three months. Corporate insiders own 7.95% of the company’s stock.

Institutional Investors Weigh In On Royal Caribbean Cruises

Several institutional investors have recently added to or reduced their stakes in the business. Plato Investment Management Ltd bought a new stake in Royal Caribbean Cruises during the 3rd quarter valued at $26,000. Safe Harbor Fiduciary LLC purchased a new stake in Royal Caribbean Cruises in the third quarter valued at approximately $27,000. Brown Brothers Harriman & Co. lifted its holdings in shares of Royal Caribbean Cruises by 618.8% during the 4th quarter. Brown Brothers Harriman & Co. now owns 115 shares of the company’s stock worth $27,000 after acquiring an additional 99 shares during the last quarter. LRI Investments LLC purchased a new position in shares of Royal Caribbean Cruises in the 3rd quarter worth about $31,000. Finally, Fourth Dimension Wealth LLC purchased a new stake in Royal Caribbean Cruises in the fourth quarter worth approximately $35,000. 87.53% of the stock is owned by hedge funds and other institutional investors.

Royal Caribbean Cruises Stock Down 2.5 %

Shares of RCL stock opened at $238.01 on Friday. The company has a debt-to-equity ratio of 2.39, a current ratio of 0.17 and a quick ratio of 0.15. The stock has a fifty day moving average price of $244.59 and a 200 day moving average price of $214.84. The stock has a market cap of $64.06 billion, a P/E ratio of 22.26, a price-to-earnings-growth ratio of 0.90 and a beta of 2.59. Royal Caribbean Cruises has a one year low of $121.18 and a one year high of $277.08.

Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $1.63 earnings per share for the quarter, beating the consensus estimate 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 period in the previous year, the firm posted $1.25 earnings per share. Analysts predict that Royal Caribbean Cruises will post 14.9 earnings per share for the current year.

Royal Caribbean Cruises announced that its Board of Directors has approved a stock buyback plan on Wednesday, February 12th that permits the company to repurchase $1.00 billion in shares. This repurchase authorization permits the company to repurchase up to 1.5% of its stock through open market purchases. Stock repurchase plans are generally an indication that the company’s board of directors believes its stock is undervalued.

Royal Caribbean Cruises Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 7th will be given a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a yield of 1.26%. The ex-dividend date is Friday, March 7th. This is an increase from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. Royal Caribbean Cruises’s dividend payout ratio is currently 28.06%.

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.