Laura H. Bethge Sells 14,992 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) Stock

Royal Caribbean Cruises Ltd. (NYSE:RCL) insider Laura H. Bethge sold 14,992 shares of the company’s stock in a transaction that occurred on 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 completion of the sale, the insider now owns 21,155 shares in the company, valued at $5,539,648.30. The trade was a 41.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Royal Caribbean Cruises Trading Down 4.0 %

NYSE RCL opened at $234.16 on Friday. The firm has a market capitalization of $63.02 billion, a P/E ratio of 21.90, a PEG ratio of 0.98 and a beta of 2.59. The business has a fifty day simple moving average of $244.35 and a 200 day simple moving average of $212.42. Royal Caribbean Cruises Ltd. has a 12 month low of $119.48 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.

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

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

Royal Caribbean Cruises Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Stockholders of record on Friday, March 7th will be given a dividend of $0.75 per share. The ex-dividend date is Friday, March 7th. This is a positive change from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. This represents a $3.00 annualized dividend and a dividend yield of 1.28%. Royal Caribbean Cruises’s dividend payout ratio (DPR) is currently 28.06%.

Institutional Investors Weigh In On Royal Caribbean Cruises

Large investors have recently made changes to their positions in the business. Brown Brothers Harriman & Co. increased its position 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 valued at $27,000 after purchasing an additional 99 shares during the last quarter. Plato Investment Management Ltd purchased a new stake in shares of Royal Caribbean Cruises during the 3rd quarter valued at $26,000. Safe Harbor Fiduciary LLC purchased a new stake in shares of Royal Caribbean Cruises during the 3rd quarter valued at $27,000. Fourth Dimension Wealth LLC purchased a new stake in shares of Royal Caribbean Cruises during the 4th quarter valued at $35,000. Finally, Bay Harbor Wealth Management LLC purchased a new stake in shares of Royal Caribbean Cruises during the 4th quarter valued at $36,000. 87.53% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on RCL. Susquehanna increased their price target on Royal Caribbean Cruises from $245.00 to $305.00 and gave the stock a “positive” rating in a report on Wednesday, January 29th. Citigroup increased their price target on Royal Caribbean Cruises from $283.00 to $304.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Argus increased their price target on Royal Caribbean Cruises from $280.00 to $305.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Tigress Financial increased their price target on Royal Caribbean Cruises from $270.00 to $330.00 and gave the stock a “buy” rating in a report on Friday, February 7th. Finally, Morgan Stanley increased their price target on Royal Caribbean Cruises from $210.00 to $225.00 and gave the stock an “equal weight” rating in a report on Monday, February 3rd. Four investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $284.12.

About Royal Caribbean Cruises

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.