Royal Caribbean Cruises (NYSE:RCL) Price Target Raised to $358.00

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

Other equities research analysts have also recently issued reports about the stock. Morgan Stanley lifted their price objective on shares of Royal Caribbean Cruises from $220.00 to $230.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 6th. Stifel Nicolaus lifted their price objective on shares of Royal Caribbean Cruises from $310.00 to $400.00 and gave the stock a "buy" rating in a research report on Wednesday. Wall Street Zen cut shares of Royal Caribbean Cruises from a "buy" rating to a "hold" rating in a research report on Saturday, June 28th. UBS Group set a $311.00 price objective on shares of Royal Caribbean Cruises and gave the stock a "buy" rating in a research report on Tuesday, May 20th. Finally, Macquarie decreased their price objective on shares of Royal Caribbean Cruises from $300.00 to $265.00 and set an "outperform" rating for the company in a research 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 assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $293.90.

Royal Caribbean Cruises Stock Down 0.8%

RCL stock traded down $2.83 during midday trading on Wednesday, hitting $338.53. The company's stock had a trading volume of 2,285,700 shares, compared to its average volume of 2,360,656. The company has a quick ratio of 0.15, a current ratio of 0.18 and a debt-to-equity ratio of 2.21. Royal Caribbean Cruises has a 52-week low of $130.08 and a 52-week high of $342.56. The firm has a market capitalization of $91.93 billion, a P/E ratio of 28.12, a PEG ratio of 1.01 and a beta of 2.17. The firm has a 50-day simple moving average of $272.55 and a 200-day simple moving average of $242.30.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $2.71 EPS for the quarter, beating the consensus estimate of $2.53 by $0.18. The company had revenue of $4 billion during the quarter, compared to analysts' expectations 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 revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the company posted $1.77 EPS. As a group, equities analysts forecast that Royal Caribbean Cruises will post 14.9 EPS for the current year.

Royal Caribbean Cruises Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 4th were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 0.89%. Royal Caribbean Cruises's dividend payout ratio is presently 24.92%.

Insider Buying and Selling

In other Royal Caribbean Cruises news, Director Richard D. Fain sold 19,600 shares of Royal Caribbean Cruises stock in a transaction on Monday, May 19th. The shares were 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 in the company, valued at approximately $41,868,055.10. The trade was a 10.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 6.95% of the company's stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC increased its stake in shares of Royal Caribbean Cruises by 6.3% during the fourth quarter. Geode Capital Management LLC now owns 5,969,532 shares of the company's stock worth $1,373,856,000 after acquiring an additional 353,893 shares during the period. Dorsey Wright & Associates acquired a new position in shares of Royal Caribbean Cruises during the fourth quarter worth about $4,221,000. Revisor Wealth Management LLC acquired a new position in Royal Caribbean Cruises during the first quarter worth about $1,525,000. Groupama Asset Managment acquired a new position in Royal Caribbean Cruises during the fourth quarter worth about $1,122,000. Finally, Brown Miller Wealth Management LLC acquired a new position in Royal Caribbean Cruises during the first quarter worth about $266,000. 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.