Summit Financial LLC Sells 800 Shares of Royal Caribbean Cruises Ltd. $RCL

Key Points

• Summit Financial LLC reduced its stake in Royal Caribbean Cruises Ltd. by 12.4%, owning 5,634 shares worth approximately $1.16 million after selling 800 shares.
• The company recently reported earnings per share (EPS) of $4.38, exceeding analysts' expectations of $4.04, with revenue matching forecasts at $4.54 billion.
• Royal Caribbean has received positive analyst ratings, with price targets raised significantly, including Barclays increasing theirs from $263 to $358, highlighting strong investor sentiment.

Summit Financial LLC decreased its position in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 12.4% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,634 shares of the company's stock after selling 800 shares during the quarter. Summit Financial LLC's holdings in Royal Caribbean Cruises were worth $1,157,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Royal Caribbean Cruises Stock Up 2.0%

Shares of NYSE RCL traded up $7.02 during mid-day trading on Thursday, hitting $366.09. 924,295 shares of the stock traded hands, compared to its average volume of 2,506,572. 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 Ltd. has a 52 week low of $154.08 and a 52 week high of $365.10. The company has a market cap of $99.44 billion, a price-to-earnings ratio of 27.37, a PEG ratio of 0.99 and a beta of 2.22. The stock has a fifty day moving average price of $324.43 and a 200-day moving average price of $262.64.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The company reported $4.38 earnings per share 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 company had revenue of $4.54 billion for the quarter, compared to analyst estimates of $4.54 billion. During the same period in the previous year, the company posted $3.21 earnings per share. The firm's revenue was up 10.4% on a year-over-year basis. Royal Caribbean Cruises has set its FY 2025 guidance at 15.410-15.550 EPS. Q3 2025 guidance at 5.550-5.650 EPS. Research analysts anticipate that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current year.

Insider Activity at Royal Caribbean Cruises

In related news, Director Vagn O. Sorensen sold 10,300 shares of Royal Caribbean Cruises stock in a transaction that occurred 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 sale, the director directly owned 16,407 shares in the company, valued at $5,414,966.28. The trade was a 38.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Richard D. Fain sold 16,000 shares of the business's stock in a transaction on Wednesday, August 6th. The stock was sold at an average price of $311.02, for a total value of $4,976,320.00. Following the completion of the sale, the director directly owned 150,291 shares in the company, valued at $46,743,506.82. This trade represents a 9.62% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 31,507 shares of company stock worth $10,091,282 over the last ninety days. 6.95% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. William Blair reaffirmed an "outperform" rating on shares of Royal Caribbean Cruises in a research note on Wednesday, July 23rd. Bank of America lifted their price target on Royal Caribbean Cruises from $230.00 to $355.00 and gave the stock a "neutral" rating in a research note on Wednesday, July 23rd. Susquehanna reissued a "positive" rating and set a $385.00 target price (up from $275.00) on shares of Royal Caribbean Cruises in a research note on Wednesday, July 30th. Loop Capital reissued a "buy" rating and set a $290.00 target price (up from $250.00) on shares of Royal Caribbean Cruises in a research note on Tuesday, June 3rd. Finally, Wall Street Zen cut Royal Caribbean Cruises from a "buy" rating to a "hold" rating in a research note on Saturday, June 28th. 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 company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price 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.