Royal Caribbean Cruises (NYSE:RCL – Free Report) had its price objective hoisted by Susquehanna from $245.00 to $305.00 in a research note published on Wednesday,Benzinga reports. The firm currently has a positive rating on the stock.
Several other brokerages also recently commented on RCL. Barclays raised their price objective on Royal Caribbean Cruises from $287.00 to $308.00 and gave the stock an “overweight” rating in a research note on Wednesday. JPMorgan Chase & Co. lifted their price objective on Royal Caribbean Cruises from $253.00 to $295.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Mizuho reissued an “outperform” rating and set a $253.00 target price (down from $255.00) on shares of Royal Caribbean Cruises in a research note on Thursday, January 23rd. Truist Financial lifted their price target on shares of Royal Caribbean Cruises from $204.00 to $272.00 and gave the company a “buy” rating in a research note on Monday, December 2nd. Finally, Sanford C. Bernstein assumed coverage on shares of Royal Caribbean Cruises in a research report on Tuesday, November 26th. They set an “outperform” rating and a $290.00 price objective for the company. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $274.19.
Check Out Our Latest Stock Analysis on RCL
Royal Caribbean Cruises Price Performance
Royal Caribbean Cruises (NYSE:RCL – Get Free Report) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $1.63 earnings per share (EPS) for the quarter, beating 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 company earned $1.25 earnings per share. On average, equities analysts anticipate that Royal Caribbean Cruises will post 15 EPS for the current year.
Royal Caribbean Cruises Cuts Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Friday, December 27th were given a $0.55 dividend. This represents a $2.20 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date of this dividend was Friday, December 27th. Royal Caribbean Cruises’s dividend payout ratio is currently 20.58%.
Insider Activity at Royal Caribbean Cruises
In other Royal Caribbean Cruises news, Director Arne Alexander Wilhelmsen sold 230,000 shares of the stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $233.62, for a total value of $53,732,600.00. Following the completion of the sale, the director now owns 18,556,860 shares in the company, valued at $4,335,253,633.20. This trade represents a 1.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Harri U. Kulovaara sold 3,256 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $234.62, for a total transaction of $763,922.72. Following the completion of the sale, the executive vice president now owns 22,348 shares of the company’s stock, valued at $5,243,287.76. This trade represents a 12.72 % decrease in their ownership of the stock. 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.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in RCL. International Assets Investment Management LLC boosted its position in Royal Caribbean Cruises by 10,599.0% during the third quarter. International Assets Investment Management LLC now owns 409,879 shares of the company’s stock worth $72,696,000 after purchasing an additional 406,048 shares during the period. AustralianSuper Pty Ltd lifted its stake in shares of Royal Caribbean Cruises by 2,042.8% during the 4th quarter. AustralianSuper Pty Ltd now owns 122,887 shares of the company’s stock worth $28,349,000 after buying an additional 117,152 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in shares of Royal Caribbean Cruises by 138.2% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 161,835 shares of the company’s stock worth $28,703,000 after buying an additional 93,899 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Royal Caribbean Cruises in the 3rd quarter valued at about $14,544,000. Finally, Dakota Wealth Management raised its holdings in Royal Caribbean Cruises by 3,935.2% in the 3rd quarter. Dakota Wealth Management now owns 76,871 shares of the company’s stock valued at $13,635,000 after acquiring an additional 74,966 shares during the period. 87.53% of the stock is owned by institutional investors and hedge funds.
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.
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