Scotia Capital Inc. Sells 7,776 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Key Points

• Scotia Capital Inc. reduced its stake in Royal Caribbean Cruises Ltd. (NYSE:RCL) by 30.4%, selling 7,776 shares during the first quarter, leaving it with 17,807 shares valued at approximately $3.66 million.
• The company reported earnings of $4.38 EPS for the last quarter, surpassing analyst estimates, with a 10.4% revenue increase year-over-year, totaling $4.54 billion.
• Wall Street analysts maintain a generally favorable outlook for Royal Caribbean, with a consensus rating of "Moderate Buy" and average price target of $321.10, despite some recent price target reductions.

Scotia Capital Inc. decreased its stake in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 30.4% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 17,807 shares of the company's stock after selling 7,776 shares during the period. Scotia Capital Inc.'s holdings in Royal Caribbean Cruises were worth $3,658,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in RCL. Financial Gravity Asset Management Inc. purchased a new stake in Royal Caribbean Cruises in the 1st quarter worth approximately $25,000. Hughes Financial Services LLC bought a new position in shares of Royal Caribbean Cruises in the first quarter worth $26,000. Optimum Investment Advisors bought a new position in shares of Royal Caribbean Cruises in the first quarter worth $31,000. Fourth Dimension Wealth LLC purchased a new stake in shares of Royal Caribbean Cruises in the fourth quarter worth $35,000. Finally, Capital A Wealth Management LLC bought a new stake in Royal Caribbean Cruises during the fourth quarter valued at $40,000. Institutional investors own 87.53% of the company's stock.

Insider Activity

In other news, Director Richard D. Fain sold 19,600 shares of the business's 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 directly owned 165,421 shares of the company's stock, valued at $41,868,055.10. The trade was a 10.59% 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 company's stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $329.47, for a total value of $1,715,550.29. Following the completion of the sale, the chief accounting officer owned 7,826 shares in the company, 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 own 6.95% of the company's stock.

Wall Street Analysts Forecast Growth

RCL has been the topic of several recent analyst reports. The Goldman Sachs Group lowered their price target 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. Morgan Stanley lifted their target price on shares of Royal Caribbean Cruises from $220.00 to $230.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 6th. UBS Group set a $311.00 price target on shares of Royal Caribbean Cruises and gave the stock a "buy" rating in a research note on Tuesday, May 20th. Loop Capital restated a "buy" rating and set a $290.00 price objective (up previously from $250.00) on shares of Royal Caribbean Cruises in a research report on Tuesday, June 3rd. Finally, Stifel Nicolaus upped their target price on shares of Royal Caribbean Cruises from $400.00 to $420.00 and gave the stock a "buy" rating in a research report on Wednesday, July 30th. Five research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $321.10.

Royal Caribbean Cruises Stock Up 0.4%

Shares of NYSE:RCL opened at $315.61 on Tuesday. The firm has a market capitalization of $85.73 billion, a P/E ratio of 23.66, a P/E/G ratio of 0.88 and a beta of 2.22. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.21 and a current ratio of 0.23. The stock has a 50 day moving average price of $304.14 and a 200-day moving average price of $254.61. Royal Caribbean Cruises Ltd. has a 52-week low of $130.08 and a 52-week high of $355.91.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The company reported $4.38 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 business had revenue of $4.54 billion during the quarter, compared to analyst estimates of $4.54 billion. During the same quarter last year, the firm posted $3.21 earnings per share. The company's revenue for the quarter was up 10.4% on a year-over-year basis. As a group, equities research analysts anticipate that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current fiscal year.

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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