Royal Caribbean Cruises (NYSE:RCL) Hits New 12-Month High - Here's Why

Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL - Get Free Report) hit a new 52-week high during trading on Monday . The stock traded as high as $336.63 and last traded at $333.77, with a volume of 877283 shares. The stock had previously closed at $334.48.

Analysts Set New Price Targets

RCL has been the subject of a number of research analyst reports. Susquehanna lowered their target price on Royal Caribbean Cruises from $295.00 to $275.00 and set a "positive" rating for the company in a report on Wednesday, April 30th. The Goldman Sachs Group lowered their price objective on shares of 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. Loop Capital reaffirmed a "buy" rating and set a $290.00 target price (up from $250.00) on shares of Royal Caribbean Cruises in a research note on Tuesday, June 3rd. Stifel Nicolaus increased their target price on shares of Royal Caribbean Cruises from $275.00 to $310.00 and gave the stock a "buy" rating in a report on Wednesday, June 4th. Finally, 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. Four 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. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $284.65.

Royal Caribbean Cruises Trading Down 1.8%

The business's 50 day simple moving average is $261.08 and its 200 day simple moving average is $239.01. 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 $89.22 billion, a price-to-earnings ratio of 27.29, a price-to-earnings-growth ratio of 0.99 and a beta of 2.17.

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

Royal Caribbean Cruises Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 4th were issued a $0.75 dividend. This represents a $3.00 annualized dividend and a dividend yield of 0.91%. Royal Caribbean Cruises's dividend payout ratio is currently 24.92%.

Insider Transactions at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, Director Richard D. Fain sold 19,600 shares of the business's stock in a transaction 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 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 6.95% of the company's stock.

Institutional Trading of Royal Caribbean Cruises

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

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.