Royal Caribbean Cruises (NYSE:RCL) Hits New 52-Week High – Still a Buy?

Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $285.75 and last traded at $282.06, with a volume of 614570 shares. The stock had previously closed at $273.68.

Analysts Set New Price Targets

RCL has been the subject of a number of research reports. Jefferies Financial Group began coverage on Royal Caribbean Cruises in a report on Monday, March 31st. They issued a “hold” rating and a $230.00 price objective for the company. Stifel Nicolaus upped their target price on Royal Caribbean Cruises from $275.00 to $310.00 and gave the stock a “buy” rating in a research note on Wednesday, June 4th. Citigroup increased their price target on shares of Royal Caribbean Cruises from $268.00 to $318.00 and gave the company a “buy” rating in a research report on Thursday, June 5th. BNP Paribas initiated coverage on shares of Royal Caribbean Cruises in a research report on Thursday, March 27th. They issued an “outperform” rating and a $262.00 target price on the stock. Finally, Susquehanna dropped their price target on Royal Caribbean Cruises from $295.00 to $275.00 and set a “positive” rating for the company in a research note on Wednesday, April 30th. Four equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $276.90.

Royal Caribbean Cruises Stock Up 1.4%

The company’s 50 day simple moving average is $244.62 and its 200-day simple moving average is $235.33. The company has a current ratio of 0.18, a quick ratio of 0.15 and a debt-to-equity ratio of 2.21. The firm has a market cap of $77.22 billion, a P/E ratio of 23.62, a PEG ratio of 0.83 and a beta of 2.14.

Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates of $2.53 by $0.18. Royal Caribbean Cruises had a net margin of 19.38% and a return on equity of 47.89%. The company had revenue of $4 billion for the quarter, compared to the consensus estimate of $4.02 billion. During the same quarter in the prior year, the firm earned $1.77 earnings per share. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. Research analysts forecast that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current fiscal year.

Royal Caribbean Cruises Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 4th will be given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.05%. Royal Caribbean Cruises’s payout ratio is 24.92%.

Insider Activity

In related news, Director Richard D. Fain sold 19,600 shares of the business’s stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $253.10, for a total transaction of $4,960,760.00. Following the completion of the sale, the director now directly owns 165,421 shares in the company, valued at approximately $41,868,055.10. The trade was a 10.59% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 6.95% of the company’s stock.

Institutional Investors Weigh In On Royal Caribbean Cruises

A number of hedge funds have recently modified their holdings of the business. Geode Capital Management LLC grew its holdings in Royal Caribbean Cruises by 6.3% during the fourth quarter. Geode Capital Management LLC now owns 5,969,532 shares of the company’s stock valued at $1,373,856,000 after purchasing an additional 353,893 shares during the period. Dorsey Wright & Associates bought a new position in shares of Royal Caribbean Cruises during the 4th quarter valued at approximately $4,221,000. Groupama Asset Managment bought a new position in shares of Royal Caribbean Cruises during the 4th quarter valued at approximately $1,122,000. Brown Miller Wealth Management LLC purchased a new stake in Royal Caribbean Cruises in the 1st quarter worth approximately $266,000. Finally, Vanguard Group Inc. raised its stake in Royal Caribbean Cruises by 8.0% during the 4th quarter. Vanguard Group Inc. now owns 28,072,316 shares of the company’s stock worth $6,476,003,000 after acquiring an additional 2,068,114 shares during the period. Institutional investors own 87.53% of the company’s stock.

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.