Royal Caribbean Cruises Ltd. (NYSE:RCL) Raises Dividend to $0.75 Per Share

Royal Caribbean Cruises Ltd. (NYSE:RCL) announced a quarterly dividend on Wednesday, February 12th,RTT News reports. Stockholders of record on Friday, March 7th will be given a dividend of 0.75 per share on Friday, April 4th. This represents a $3.00 annualized dividend and a dividend yield of 1.17%. This is an increase from Royal Caribbean Cruises’s previous quarterly dividend of $0.55.

Royal Caribbean Cruises has a dividend payout ratio of 12.6% indicating that its dividend is sufficiently covered by earnings. Analysts expect Royal Caribbean Cruises to earn $17.42 per share next year, which means the company should continue to be able to cover its $2.20 annual dividend with an expected future payout ratio of 12.6%.

Royal Caribbean Cruises Stock Performance

RCL stock traded down $0.56 on Wednesday, reaching $256.11. 1,542,507 shares of the company were exchanged, compared to its average volume of 2,296,539. The firm has a market capitalization of $68.86 billion, a PE ratio of 23.96, a PEG ratio of 1.00 and a beta of 2.59. Royal Caribbean Cruises has a 12 month low of $113.10 and a 12 month high of $277.08. The stock’s fifty day moving average price is $243.15 and its 200 day moving average price is $207.31. The company has a debt-to-equity ratio of 2.39, a current ratio of 0.17 and a quick ratio of 0.15.

Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $1.63 EPS 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 in the previous year, the business earned $1.25 earnings per share. On average, research analysts anticipate that Royal Caribbean Cruises will post 14.96 EPS for the current fiscal year.

Analyst Ratings Changes

RCL has been the subject of several recent research reports. Susquehanna boosted their price objective on Royal Caribbean Cruises from $245.00 to $305.00 and gave the stock a “positive” rating in a report on Wednesday, January 29th. Morgan Stanley increased their target price on Royal Caribbean Cruises from $210.00 to $225.00 and gave the company an “equal weight” rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. upped their price target on Royal Caribbean Cruises from $253.00 to $295.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Wells Fargo & Company boosted their price objective on shares of Royal Caribbean Cruises from $232.00 to $272.00 and gave the company an “overweight” rating in a report on Monday, January 27th. Finally, Loop Capital began coverage on shares of Royal Caribbean Cruises in a report on Tuesday, February 4th. They issued a “hold” rating and a $250.00 target price on the stock. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $284.12.

Insider Activity at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, EVP Harri U. Kulovaara sold 3,256 shares of Royal Caribbean Cruises stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $234.62, for a total value of $763,922.72. Following the completion of the sale, the executive vice president now owns 22,348 shares in the company, valued at $5,243,287.76. The trade was a 12.72 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Arne Alexander Wilhelmsen sold 230,000 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $233.62, for a total value of $53,732,600.00. Following the transaction, the director now directly owns 18,556,860 shares of the company’s stock, valued at $4,335,253,633.20. This trade represents a 1.22 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 372,609 shares of company stock valued at $87,647,208. Insiders own 7.95% 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.