Royal Caribbean Cruises (NYSE:RCL) Given New $358.00 Price Target at Barclays

Royal Caribbean Cruises (NYSE:RCL - Free Report) had its price target upped by Barclays from $263.00 to $358.00 in a research report report published on Wednesday,Benzinga reports. Barclays currently has an overweight rating on the stock.

Other equities research analysts also recently issued research reports about the stock. Morgan Stanley boosted their price objective 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 target price on shares of Royal Caribbean Cruises and gave the stock a "buy" rating in a research note on Tuesday, May 20th. Jefferies Financial Group increased their price objective on shares of Royal Caribbean Cruises from $235.00 to $315.00 and gave the company a "hold" rating in a research note on Monday. Truist Financial lifted their price target on Royal Caribbean Cruises from $272.00 to $275.00 and gave the stock a "buy" rating in a research report on Monday, May 19th. Finally, Melius Research upgraded Royal Caribbean Cruises to a "strong-buy" rating in a research note on Monday, April 21st. Four analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $293.90.

Royal Caribbean Cruises Stock Up 2.6%

Royal Caribbean Cruises stock traded up $8.60 during trading hours on Wednesday, hitting $342.17. 1,971,969 shares of the stock traded hands, compared to its average volume of 2,361,526. The firm's 50-day moving average price is $267.95 and its two-hundred day moving average price is $240.91. Royal Caribbean Cruises has a one year low of $130.08 and a one year high of $342.43. The company has a market cap of $92.92 billion, a PE ratio of 28.42, a PEG ratio of 0.98 and a beta of 2.17. The company has a current ratio of 0.18, a quick ratio of 0.15 and a debt-to-equity ratio of 2.21.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $2.71 earnings per share for the quarter, topping analysts' consensus estimates 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 company had revenue of $4 billion during the quarter, compared to analyst estimates of $4.02 billion. During the same period in the previous year, the business earned $1.77 EPS. The firm's revenue for the quarter was up 7.3% on a year-over-year basis. On average, research analysts forecast that Royal Caribbean Cruises will post 14.9 EPS for the current year.

Royal Caribbean Cruises Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 4th were issued a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 0.88%. Royal Caribbean Cruises's dividend payout ratio (DPR) is presently 24.92%.

Insider Buying and Selling at Royal Caribbean Cruises

In other news, Director Richard D. Fain sold 19,600 shares of the firm'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 directly owned 165,421 shares of the company's stock, 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 SEC, which is available at this hyperlink. 6.95% of the stock is currently owned by company insiders.

Institutional Trading of Royal Caribbean Cruises

Several hedge funds and other institutional investors have recently bought and sold shares of RCL. Brighton Jones LLC lifted its holdings in shares of Royal Caribbean Cruises by 12.2% during the 4th quarter. Brighton Jones LLC now owns 1,312 shares of the company's stock valued at $303,000 after acquiring an additional 143 shares in the last quarter. Victory Capital Management Inc. boosted its stake in Royal Caribbean Cruises by 5.3% during the 4th quarter. Victory Capital Management Inc. now owns 85,684 shares of the company's stock valued at $19,766,000 after purchasing an additional 4,300 shares during the period. Proficio Capital Partners LLC bought a new position in shares of Royal Caribbean Cruises in the fourth quarter valued at approximately $302,000. Simplicity Wealth LLC bought a new position in shares of Royal Caribbean Cruises in the fourth quarter valued at approximately $230,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Royal Caribbean Cruises by 2.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 104,406 shares of the company's stock valued at $24,085,000 after purchasing an additional 2,644 shares during the last quarter. 87.53% of the stock is owned by hedge funds and other institutional investors.

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.