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

Royal Caribbean Cruises Ltd. (NYSE:RCL - Get Free Report) reached a new 52-week high on Tuesday . The company traded as high as $285.75 and last traded at $282.06, with a volume of 614570 shares. The stock had previously closed at $273.68.

Analyst Ratings Changes

RCL has been the subject of a number of recent analyst reports. Truist Financial lifted their price target on shares of Royal Caribbean Cruises from $272.00 to $275.00 and gave the company a "buy" rating in a research report on Monday, May 19th. The Goldman Sachs Group dropped their price objective on Royal Caribbean Cruises from $305.00 to $245.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Morgan Stanley raised their target price on Royal Caribbean Cruises from $220.00 to $230.00 and gave the company an "equal weight" rating in a report on Tuesday, May 6th. Citigroup boosted their price target on shares of Royal Caribbean Cruises from $268.00 to $318.00 and gave the stock a "buy" rating in a research note on Thursday, June 5th. Finally, UBS Group set a $311.00 price objective on shares of Royal Caribbean Cruises and gave the company a "buy" rating in a report on Tuesday, May 20th. Four equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, Royal Caribbean Cruises currently has a consensus rating of "Moderate Buy" and an average price target of $276.90.

Royal Caribbean Cruises Stock Up 2.5%

The company has a debt-to-equity ratio of 2.21, a current ratio of 0.18 and a quick ratio of 0.15. The company has a market capitalization of $76.16 billion, a price-to-earnings ratio of 21.47, a price-to-earnings-growth ratio of 0.81 and a beta of 2.14. The firm's 50-day simple moving average is $241.02 and its two-hundred day simple moving average is $234.67.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported $2.71 EPS for the quarter, topping the consensus estimate of $2.53 by $0.18. Royal Caribbean Cruises had a net margin of 19.38% and a return on equity of 47.89%. The business had revenue of $4 billion for the quarter, compared to analyst estimates of $4.02 billion. During the same period in the previous year, the firm earned $1.77 EPS. The business's revenue for the quarter was up 7.3% compared to the same quarter last year. Sell-side analysts predict that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current fiscal year.

Royal Caribbean Cruises Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 4th will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a dividend yield of 1.07%. Royal Caribbean Cruises's dividend payout ratio (DPR) is 24.92%.

Insider Activity at Royal Caribbean Cruises

In related news, Director Richard D. Fain sold 19,600 shares of the company's stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $253.10, for a total transaction of $4,960,760.00. Following the completion of the transaction, the director now owns 165,421 shares of the company's stock, valued at approximately $41,868,055.10. This represents a 10.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 6.95% of the company's stock.

Institutional Trading of Royal Caribbean Cruises

Large investors have recently added to or reduced their stakes in the stock. Brown Brothers Harriman & Co. increased its stake in Royal Caribbean Cruises by 618.8% during the 4th quarter. Brown Brothers Harriman & Co. now owns 115 shares of the company's stock worth $27,000 after buying an additional 99 shares during the period. Financial Gravity Asset Management Inc. bought a new stake in Royal Caribbean Cruises in the first quarter valued at about $25,000. Hughes Financial Services LLC bought a new position in Royal Caribbean Cruises during the first quarter worth $26,000. Fourth Dimension Wealth LLC bought a new position in shares of Royal Caribbean Cruises in the 4th quarter worth about $35,000. Finally, Optimum Investment Advisors acquired a new position in Royal Caribbean Cruises in the first quarter valued at approximately $31,000. 87.53% of the stock is currently owned by institutional investors and hedge funds.

Royal Caribbean Cruises Company 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.