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

Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Get Free Report) reached a new 52-week high on Monday . The stock traded as high as $343.09 and last traded at $342.01, with a volume of 334563 shares traded. The stock had previously closed at $338.51.

Analyst Ratings Changes

Several research firms have weighed in on RCL. Susquehanna lowered their price objective on Royal Caribbean Cruises from $295.00 to $275.00 and set a "positive" rating on the stock in a research report on Wednesday, April 30th. Stifel Nicolaus increased their price objective on Royal Caribbean Cruises from $310.00 to $400.00 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Barclays increased their price objective on Royal Caribbean Cruises from $263.00 to $358.00 and gave the stock an "overweight" rating in a research report on Wednesday, July 9th. Truist Financial increased their price objective 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, Macquarie reduced their target price on 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 research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $297.50.

Royal Caribbean Cruises Stock Performance

The stock has a market cap of $94.67 billion, a P/E ratio of 28.95, a P/E/G ratio of 1.01 and a beta of 2.17. The company has a fifty day moving average price of $279.35 and a 200 day moving average price of $244.46. The company has a debt-to-equity ratio of 2.21, a current ratio of 0.18 and a quick ratio of 0.15.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last announced its 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 analysts' expectations of $4.02 billion. Royal Caribbean Cruises had a return on equity of 47.89% and a net margin of 19.38%. Royal Caribbean Cruises's quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.77 earnings per share. On average, equities analysts expect that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current year.

Royal Caribbean Cruises Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 4th were given a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 0.86%. Royal Caribbean Cruises's dividend payout ratio is currently 24.92%.

Insider Activity at Royal Caribbean Cruises

In related news, Director Richard D. Fain sold 19,600 shares of the business's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $253.10, for a total transaction of $4,960,760.00. Following the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 6.95% of the stock is owned by corporate insiders.

Institutional Trading of Royal Caribbean Cruises

A number of hedge funds and other institutional investors have recently made changes to their positions in RCL. Financial Gravity Asset Management Inc. bought a new position in Royal Caribbean Cruises in the 1st quarter worth about $25,000. Hughes Financial Services LLC bought a new position in Royal Caribbean Cruises in the 1st quarter worth about $26,000. Brown Brothers Harriman & Co. increased its stake in Royal Caribbean Cruises by 618.8% in the 4th quarter. Brown Brothers Harriman & Co. now owns 115 shares of the company's stock worth $27,000 after acquiring an additional 99 shares during the last quarter. Opal Wealth Advisors LLC bought a new position in shares of Royal Caribbean Cruises during the 2nd quarter valued at about $27,000. Finally, Optimum Investment Advisors bought a new position in shares of Royal Caribbean Cruises during the 1st quarter valued at about $31,000. 87.53% of the stock is currently 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.