Royal Caribbean Cruises (NYSE:RCL) Sets New 12-Month High - What's Next?

Royal Caribbean Cruises Ltd. (NYSE:RCL - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $279.89 and last traded at $276.84, with a volume of 216819 shares changing hands. The stock had previously closed at $276.34.

Analysts Set New Price Targets

RCL has been the topic of several research reports. Loop Capital reiterated a "buy" rating and issued a $290.00 price objective (up from $250.00) on shares of Royal Caribbean Cruises in a report on Tuesday, June 3rd. Jefferies Financial Group started coverage on shares of Royal Caribbean Cruises in a report on Monday, March 31st. They issued a "hold" rating and a $230.00 price target on the stock. BNP Paribas initiated coverage on shares of Royal Caribbean Cruises in a research report on Thursday, March 27th. They set an "outperform" rating and a $262.00 price objective for the company. Barclays boosted their price objective on Royal Caribbean Cruises from $249.00 to $263.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. Finally, UBS Group set a $311.00 target price on Royal Caribbean Cruises and gave the stock a "buy" rating in a research note on Tuesday, May 20th. Four analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $276.90.

Royal Caribbean Cruises Stock Performance

The company has a debt-to-equity ratio of 2.39, a current ratio of 0.17 and a quick ratio of 0.15. The stock has a market cap of $73.32 billion, a P/E ratio of 25.26, a PEG ratio of 0.90 and a beta of 2.14. The stock has a 50-day simple moving average of $225.58 and a 200-day simple moving average of $233.22.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.18. The company had revenue of $4 billion for the quarter, compared to analyst estimates of $4.02 billion. Royal Caribbean Cruises had a net margin of 17.46% and a return on equity of 48.97%. The firm's revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the firm posted $1.77 EPS. Research analysts forecast that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current year.

Royal Caribbean Cruises Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Wednesday, June 4th will be paid a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 1.11%. Royal Caribbean Cruises's dividend payout ratio is 24.92%.

Royal Caribbean Cruises announced that its Board of Directors has approved a stock buyback plan on Wednesday, February 12th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to purchase up to 1.5% of its stock through open market purchases. Stock repurchase plans are usually a sign that the company's board of directors believes its stock is undervalued.

Insiders Place Their Bets

In related news, Director Richard D. Fain sold 19,600 shares of the stock in a transaction 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 transaction, the director now directly owns 165,421 shares in the company, valued at $41,868,055.10. This trade represents a 10.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 6.95% of the company's stock.

Institutional Trading of Royal Caribbean Cruises

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RCL. Strs Ohio bought a new stake in Royal Caribbean Cruises during the first quarter worth $26,348,000. Intech Investment Management LLC grew its stake in shares of Royal Caribbean Cruises by 51.9% in the 1st quarter. Intech Investment Management LLC now owns 44,138 shares of the company's stock worth $9,068,000 after acquiring an additional 15,078 shares in the last quarter. Focus Partners Wealth lifted its position in shares of Royal Caribbean Cruises by 5.6% during the first quarter. Focus Partners Wealth now owns 11,241 shares of the company's stock valued at $2,310,000 after purchasing an additional 600 shares in the last quarter. Integrity Alliance LLC. bought a new position in shares of Royal Caribbean Cruises during the first quarter valued at about $230,000. Finally, Ilmarinen Mutual Pension Insurance Co lifted its position in shares of Royal Caribbean Cruises by 200.0% during the first quarter. Ilmarinen Mutual Pension Insurance Co now owns 37,500 shares of the company's stock valued at $7,704,000 after purchasing an additional 25,000 shares in the last quarter. 87.53% of the stock is owned by institutional investors.

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.