Royal Caribbean Cruises (NYSE:RCL) Price Target Raised to $180.00

Royal Caribbean Cruises (NYSE:RCL) had its target price raised by Susquehanna from $160.00 to $180.00 in a research report released on Tuesday, Benzinga reports. The firm currently has a positive rating on the stock.

Other research analysts have also issued research reports about the stock. UBS Group boosted their target price on shares of Royal Caribbean Cruises from $154.00 to $168.00 and gave the stock a buy rating in a research report on Tuesday, May 14th. Bank of America raised their price target on Royal Caribbean Cruises from $145.00 to $172.00 and gave the company a neutral rating in a research report on Tuesday, July 23rd. Mizuho raised their price target on Royal Caribbean Cruises from $168.00 to $195.00 and gave the company an outperform rating in a research report on Friday, July 26th. The Goldman Sachs Group raised their price target on Royal Caribbean Cruises from $170.00 to $195.00 and gave the company a buy rating in a research report on Wednesday, July 17th. Finally, Argus raised their price target on Royal Caribbean Cruises from $161.00 to $172.00 and gave the company a buy rating in a research report on Wednesday, May 29th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average target price of $179.69.

Royal Caribbean Cruises Price Performance

Shares of NYSE:RCL opened at $138.85 on Tuesday. The stock has a market capitalization of $35.73 billion, a P/E ratio of 17.89, a P/E/G ratio of 0.43 and a beta of 2.62. The business has a 50-day moving average of $156.63 and a two-hundred day moving average of $139.83. Royal Caribbean Cruises has a fifty-two week low of $78.35 and a fifty-two week high of $173.37. The company has a debt-to-equity ratio of 3.20, a current ratio of 0.19 and a quick ratio of 0.17.

Royal Caribbean Cruises (NYSE:RCL) last announced its earnings results on Thursday, July 25th. The company reported $3.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.76 by $0.45. Royal Caribbean Cruises had a return on equity of 52.49% and a net margin of 16.32%. The firm had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.05 billion. During the same quarter in the prior year, the business earned $1.82 earnings per share. The company’s revenue was up 16.4% on a year-over-year basis. On average, equities research analysts predict that Royal Caribbean Cruises will post 11.6 EPS for the current fiscal year.

Royal Caribbean Cruises Dividend Announcement

The firm also recently declared a — dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 20th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, September 20th.

Insiders Place Their Bets

In other Royal Caribbean Cruises news, CEO Michael W. Bayley sold 24,201 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $140.21, for a total transaction of $3,393,222.21. Following the completion of the transaction, the chief executive officer now owns 98,850 shares in the company, valued at $13,859,758.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Richard D. Fain 19,338 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael W. Bayley sold 24,201 shares of Royal Caribbean Cruises stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $140.21, for a total transaction of $3,393,222.21. Following the completion of the transaction, the chief executive officer now owns 98,850 shares of the company’s stock, valued at approximately $13,859,758.50. The disclosure for this sale can be found here. Insiders sold a total of 92,940 shares of company stock worth $13,667,094 over the last quarter. Company insiders own 7.95% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of RCL. Capital International Investors increased its holdings in shares of Royal Caribbean Cruises by 1.0% in the first quarter. Capital International Investors now owns 29,596,455 shares of the company’s stock valued at $4,114,203,000 after purchasing an additional 286,868 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Royal Caribbean Cruises by 0.5% in the first quarter. Vanguard Group Inc. now owns 25,409,272 shares of the company’s stock valued at $3,532,143,000 after purchasing an additional 132,079 shares in the last quarter. Norges Bank acquired a new stake in shares of Royal Caribbean Cruises in the fourth quarter valued at approximately $323,251,000. Swiss National Bank increased its holdings in shares of Royal Caribbean Cruises by 2.8% in the fourth quarter. Swiss National Bank now owns 760,938 shares of the company’s stock valued at $98,534,000 after purchasing an additional 20,600 shares in the last quarter. Finally, Federated Hermes Inc. increased its holdings in shares of Royal Caribbean Cruises by 15.4% in the fourth quarter. Federated Hermes Inc. now owns 639,348 shares of the company’s stock valued at $82,789,000 after purchasing an additional 85,545 shares in the last quarter. Institutional investors own 87.53% 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.