Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL – Get Free Report) have received a consensus rating of “Moderate Buy” from the twenty-one ratings firms that are covering the company, MarketBeat.com reports. Three research analysts have rated the stock with a hold recommendation, seventeen have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $280.40.
Several equities analysts recently issued reports on RCL shares. Northcoast Research started coverage on Royal Caribbean Cruises in a report on Friday, April 25th. They issued a “buy” rating and a $279.00 price target on the stock. UBS Group set a $311.00 target price on Royal Caribbean Cruises and gave the stock a “buy” rating in a report on Tuesday, May 20th. Truist Financial raised their target price on Royal Caribbean Cruises from $272.00 to $275.00 and gave the stock a “buy” rating in a report on Monday, May 19th. BNP Paribas assumed coverage on Royal Caribbean Cruises in a report on Thursday, March 27th. They set an “outperform” rating and a $262.00 target price on the stock. Finally, The Goldman Sachs Group reduced their target price on Royal Caribbean Cruises from $305.00 to $245.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd.
Check Out Our Latest Stock Report on RCL
Royal Caribbean Cruises Stock Performance
Royal Caribbean Cruises (NYSE:RCL – Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported $2.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.53 by $0.18. Royal Caribbean Cruises had a return on equity of 47.89% and a net margin of 19.38%. The firm had revenue of $4 billion during the quarter, compared to analyst estimates of $4.02 billion. During the same period in the prior year, the company posted $1.77 earnings per share. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. As a group, analysts anticipate that Royal Caribbean Cruises will post 14.9 EPS for the current fiscal year.
Royal Caribbean Cruises Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Investors of record on Wednesday, June 4th were given a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 0.90%. Royal Caribbean Cruises’s dividend payout ratio is presently 24.92%.
Insider Transactions at Royal Caribbean Cruises
In related news, Director Richard D. Fain sold 19,600 shares of Royal Caribbean Cruises stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $253.10, for a total value of $4,960,760.00. Following the sale, the director owned 165,421 shares of the company’s stock, valued at approximately $41,868,055.10. This trade represents a 10.59% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 6.95% of the company’s stock.
Institutional Investors Weigh In On Royal Caribbean Cruises
Hedge funds and other institutional investors have recently bought and sold shares of the company. Financial Gravity Asset Management Inc. acquired a new stake in Royal Caribbean Cruises in the 1st quarter valued at approximately $25,000. Hughes Financial Services LLC acquired a new stake in Royal Caribbean Cruises in the 1st quarter valued at approximately $26,000. Brown Brothers Harriman & Co. raised its position in Royal Caribbean Cruises by 618.8% in the 4th quarter. Brown Brothers Harriman & Co. now owns 115 shares of the company’s stock valued at $27,000 after buying an additional 99 shares during the last quarter. Optimum Investment Advisors acquired a new stake in Royal Caribbean Cruises in the 1st quarter valued at approximately $31,000. Finally, Fourth Dimension Wealth LLC acquired a new stake in Royal Caribbean Cruises in the 4th quarter valued at approximately $35,000. Institutional investors and hedge funds 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.
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