Abner Herrman & Brock LLC Invests $8.27 Million in Royal Caribbean Cruises Ltd. $RCL

Key Points

• Abner Herrman & Brock LLC invested approximately $8.27 million in Royal Caribbean Cruises, acquiring 26,405 shares, enhancing its stake in the company during the second quarter.
• Royal Caribbean Cruises has reported a strong earnings performance, with earnings per share (EPS) of $4.38, surpassing analyst expectations by $0.34, and noted a revenue increase of 10.4% year-over-year.
• The company has announced an increase in its dividend, raising it from $0.75 to $1.00 per share, reflecting a commitment to returning value to shareholders.

Abner Herrman & Brock LLC acquired a new position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 26,405 shares of the company's stock, valued at approximately $8,268,000.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of Royal Caribbean Cruises by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 28,674,763 shares of the company's stock worth $5,890,943,000 after purchasing an additional 602,447 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Royal Caribbean Cruises by 21.8% in the 1st quarter. Bank of New York Mellon Corp now owns 2,991,079 shares of the company's stock worth $614,487,000 after purchasing an additional 535,043 shares in the last quarter. Nuveen LLC bought a new position in shares of Royal Caribbean Cruises in the 1st quarter worth $358,614,000. GAMMA Investing LLC lifted its holdings in shares of Royal Caribbean Cruises by 22,154.9% in the 1st quarter. GAMMA Investing LLC now owns 1,410,962 shares of the company's stock worth $289,868,000 after purchasing an additional 1,404,622 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of Royal Caribbean Cruises by 4.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,332,682 shares of the company's stock worth $273,786,000 after purchasing an additional 59,743 shares in the last quarter. Institutional investors and hedge funds own 87.53% of the company's stock.

Insider Activity

In other news, Director Vagn O. Sorensen sold 10,300 shares of the firm's stock in a transaction on Tuesday, August 19th. The stock was sold at an average price of $330.04, for a total transaction of $3,399,412.00. Following the completion of the sale, the director directly owned 16,407 shares of the company's stock, valued at $5,414,966.28. This trade represents a 38.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Henry L. Pujol sold 5,207 shares of the firm's stock in a transaction on 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 sale, the chief accounting officer directly owned 7,826 shares of the company's stock, valued at approximately $2,578,432.22. This represents a 39.95% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 31,507 shares of company stock valued at $10,091,282 in the last ninety days. 6.95% of the stock is currently owned by insiders.

Analysts Set New Price Targets

RCL has been the topic of a number of recent research reports. Citigroup increased their target price on Royal Caribbean Cruises from $390.00 to $399.00 and gave the stock a "buy" rating in a report on Wednesday, July 30th. Bank of America increased their target price on Royal Caribbean Cruises from $230.00 to $355.00 and gave the stock a "neutral" rating in a report on Wednesday, July 23rd. Truist Financial set a $337.00 target price on Royal Caribbean Cruises in a report on Wednesday, July 30th. Loop Capital reiterated a "buy" rating and issued a $290.00 target price (up from $250.00) on shares of Royal Caribbean Cruises in a report on Tuesday, June 3rd. Finally, UBS Group raised their price objective on Royal Caribbean Cruises from $311.00 to $353.00 and gave the company a "buy" rating in a research note on Friday, August 8th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Royal Caribbean Cruises presently has a consensus rating of "Moderate Buy" and an average target price of $327.14.

Royal Caribbean Cruises Trading Down 3.7%

Shares of Royal Caribbean Cruises stock opened at $337.20 on Friday. Royal Caribbean Cruises Ltd. has a 1 year low of $164.01 and a 1 year high of $366.50. The firm has a market cap of $91.59 billion, a PE ratio of 25.28, a P/E/G ratio of 0.98 and a beta of 2.12. The stock has a fifty day moving average price of $337.06 and a 200-day moving average price of $271.11. The company has a debt-to-equity ratio of 1.88, a current ratio of 0.23 and a quick ratio of 0.21.

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 the consensus estimate of $4.04 by $0.34. Royal Caribbean Cruises had a return on equity of 47.15% and a net margin of 20.97%.The firm had revenue of $4.54 billion during the quarter, compared to analyst estimates of $4.54 billion. During the same period last year, the firm posted $3.21 EPS. The business's revenue was up 10.4% compared to the same quarter last year. Royal Caribbean Cruises has set its FY 2025 guidance at 15.410-15.550 EPS. Q3 2025 guidance at 5.550-5.650 EPS. Equities research analysts anticipate that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current year.

Royal Caribbean Cruises Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 13th. Stockholders of record on Thursday, September 25th will be given a dividend of $1.00 per share. The ex-dividend date of this dividend is Thursday, September 25th. This represents a $4.00 annualized dividend and a dividend yield of 1.2%. This is a boost from Royal Caribbean Cruises's previous quarterly dividend of $0.75. Royal Caribbean Cruises's payout ratio is 29.99%.

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.

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