Royal Caribbean Cruises (NYSE:RCL) Sets New 1-Year High - What's Next?

Royal Caribbean Cruises Ltd. (NYSE:RCL - Get Free Report)'s stock price hit a new 52-week high during trading on Monday . The company traded as high as $311.25 and last traded at $311.26, with a volume of 817997 shares changing hands. The stock had previously closed at $309.51.

Analysts Set New Price Targets

A number of equities research analysts have commented on RCL shares. Truist Financial raised their target price on Royal Caribbean Cruises from $272.00 to $275.00 and gave the company a "buy" rating in a report on Monday, May 19th. Loop Capital reissued a "buy" rating and issued a $290.00 price target (up from $250.00) on shares of Royal Caribbean Cruises in a report on Tuesday, June 3rd. Northcoast Research started coverage on shares of Royal Caribbean Cruises in a research report on Friday, April 25th. They set a "buy" rating and a $279.00 target price on the stock. The Goldman Sachs Group cut their price target on Royal Caribbean Cruises from $305.00 to $245.00 and set a "buy" rating for the company in a report on Wednesday, April 23rd. Finally, Macquarie cut their price objective on shares of Royal Caribbean Cruises from $300.00 to $265.00 and set an "outperform" rating on the stock in a report on Friday, May 9th. Four investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Royal Caribbean Cruises currently has a consensus rating of "Moderate Buy" and an average price target of $276.90.

Royal Caribbean Cruises Trading Up 0.6%

The business's 50-day moving average price is $251.52 and its 200 day moving average price is $236.46. 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 firm has a market capitalization of $85.56 billion, a price-to-earnings ratio of 26.17, a PEG ratio of 0.92 and a beta of 2.14.

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

Royal Caribbean Cruises Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Wednesday, June 4th will be issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 0.95%. Royal Caribbean Cruises's dividend payout ratio is currently 24.92%.

Insiders Place Their Bets

In other Royal Caribbean Cruises news, Director Richard D. Fain sold 19,600 shares of the company'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 transaction, the director directly owned 165,421 shares of the company's stock, valued at $41,868,055.10. This represents a 10.59% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 6.95% of the stock is currently owned by company insiders.

Institutional Trading of Royal Caribbean Cruises

Several institutional investors have recently added to or reduced their stakes in RCL. Financial Gravity Asset Management Inc. bought a new position in shares of Royal Caribbean Cruises during the first quarter worth about $25,000. Hughes Financial Services LLC acquired a new stake in Royal Caribbean Cruises during the first quarter valued at approximately $26,000. Brown Brothers Harriman & Co. raised its stake in Royal Caribbean Cruises by 618.8% during the fourth quarter. Brown Brothers Harriman & Co. now owns 115 shares of the company's stock valued at $27,000 after buying an additional 99 shares in the last quarter. Optimum Investment Advisors bought a new position in Royal Caribbean Cruises during the 1st quarter worth approximately $31,000. Finally, Fourth Dimension Wealth LLC acquired a new position in shares of Royal Caribbean Cruises in the 4th quarter worth approximately $35,000. 87.53% of the stock is 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.