Synovus Financial Corp Invests $423,000 in Royal Caribbean Cruises Ltd. $RCL

Key Points

• Synovus Financial Corp acquired 2,060 shares of Royal Caribbean Cruises Ltd., valued at approximately $423,000, during the first quarter.
• Company executives sold a total of 31,507 shares worth $10,091,282 over the last quarter, with insiders holding 6.95% of the company's stock.
• Royal Caribbean Cruises reported an earnings per share (EPS) of $4.38 for the last quarter, exceeding analysts' expectations of $4.04, and set a FY 2025 guidance of 15.410-15.550 EPS.

Synovus Financial Corp acquired a new stake in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) during the first quarter, according to its most recent filing with the SEC. The firm acquired 2,060 shares of the company's stock, valued at approximately $423,000.

Other hedge funds have also recently bought and sold shares of the company. Financial Gravity Asset Management Inc. bought a new position in Royal Caribbean Cruises in the 1st quarter valued at $25,000. Hughes Financial Services LLC acquired a new position in shares of Royal Caribbean Cruises in the 1st quarter valued at $26,000. Fourth Dimension Wealth LLC acquired a new position in shares of Royal Caribbean Cruises in the 4th quarter valued at $35,000. Optimum Investment Advisors acquired a new position in shares of Royal Caribbean Cruises in the 1st quarter valued at $31,000. Finally, Capital A Wealth Management LLC acquired a new position in shares of Royal Caribbean Cruises in the 4th quarter valued at $40,000. 87.53% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Vagn O. Sorensen sold 10,300 shares of the firm's stock in a transaction dated Tuesday, August 19th. The stock was sold at an average price of $330.04, for a total value of $3,399,412.00. Following the completion of the transaction, the director owned 16,407 shares in the company, valued at $5,414,966.28. This trade represents a 38.57% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Henry L. Pujol sold 5,207 shares of the firm's stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $329.47, for a total value of $1,715,550.29. Following the completion of the transaction, the chief accounting officer owned 7,826 shares of the company's stock, valued at $2,578,432.22. The trade was a 39.95% decrease in their position. The disclosure for this sale can be found here. Insiders sold 31,507 shares of company stock worth $10,091,282 in the last quarter. Corporate insiders own 6.95% of the company's stock.

Royal Caribbean Cruises Stock Down 0.8%

Royal Caribbean Cruises stock traded down $2.77 during midday trading on Friday, reaching $363.07. The stock had a trading volume of 1,962,254 shares, compared to its average volume of 1,957,054. The firm's fifty day simple moving average is $328.20 and its 200-day simple moving average is $264.16. Royal Caribbean Cruises Ltd. has a 1-year low of $154.08 and a 1-year high of $366.50. The stock has a market capitalization of $98.62 billion, a P/E ratio of 27.22, a price-to-earnings-growth ratio of 1.02 and a beta of 2.12. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.21 and a current ratio of 0.23.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last announced its earnings results on Tuesday, July 29th. The company reported $4.38 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $4.04 by $0.34. The business had revenue of $4.54 billion for the quarter, compared to analyst estimates of $4.54 billion. Royal Caribbean Cruises had a return on equity of 47.15% and a net margin of 20.97%.Royal Caribbean Cruises's revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter last year, the firm earned $3.21 EPS. Royal Caribbean Cruises has set its FY 2025 guidance at 15.410-15.550 EPS. Q3 2025 guidance at 5.550-5.650 EPS. As a group, analysts expect that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. JPMorgan Chase & Co. increased their price target on Royal Caribbean Cruises from $302.00 to $367.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Susquehanna reissued a "positive" rating and issued a $385.00 price target (up previously from $275.00) on shares of Royal Caribbean Cruises in a research note on Wednesday, July 30th. Bank of America increased their price target on Royal Caribbean Cruises from $230.00 to $355.00 and gave the company a "neutral" rating in a research note on Wednesday, July 23rd. TD Cowen started coverage on Royal Caribbean Cruises in a research note on Tuesday, July 22nd. They issued a "buy" rating and a $405.00 price target on the stock. Finally, Stifel Nicolaus raised their price objective on Royal Caribbean Cruises from $400.00 to $420.00 and gave the stock a "buy" rating in a research note on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $327.14.

Royal Caribbean Cruises 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.