Royal Caribbean Cruises (NYSE:RCL) Given "Hold" Rating at Truist Financial

Truist Financial reiterated their hold rating on shares of Royal Caribbean Cruises (NYSE:RCL - Free Report) in a research note released on Monday, MarketBeat Ratings reports. Truist Financial currently has a $337.00 price objective on the stock, up from their previous price objective of $275.00.

Other equities analysts have also issued research reports about the stock. UBS Group set a $311.00 price objective on shares of Royal Caribbean Cruises and gave the stock a "buy" rating in a research note on Tuesday, May 20th. Barclays raised their target price 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. The Goldman Sachs Group decreased their price objective on Royal Caribbean Cruises from $305.00 to $245.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. Jefferies Financial Group raised their price objective on Royal Caribbean Cruises from $235.00 to $315.00 and gave the stock a "hold" rating in a research report on Monday, July 7th. Finally, Loop Capital restated a "buy" rating and set a $290.00 price target (up from $250.00) on shares of Royal Caribbean Cruises in a report on Tuesday, June 3rd. Five investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $311.05.

Royal Caribbean Cruises Trading Down 0.4%

Shares of NYSE:RCL traded down $1.40 during midday trading on Monday, reaching $351.45. The company had a trading volume of 485,361 shares, compared to its average volume of 2,555,369. Royal Caribbean Cruises has a 1-year low of $130.08 and a 1-year high of $355.91. The company has a fifty day simple moving average of $290.11 and a two-hundred day simple moving average of $248.55. The firm has a market cap of $95.44 billion, a price-to-earnings ratio of 29.19, a price-to-earnings-growth ratio of 1.03 and a beta of 2.17. The company has a debt-to-equity ratio of 2.21, a quick ratio of 0.15 and a current ratio of 0.18.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported $2.71 EPS for the quarter, topping the consensus estimate 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 analysts' expectations of $4.02 billion. During the same period last year, the company posted $1.77 earnings per share. The business's revenue for the quarter was up 7.3% on a year-over-year basis. Research analysts predict that Royal Caribbean Cruises will post 14.9 earnings per share for the current year.

Royal Caribbean Cruises Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 4th were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a dividend yield of 0.85%. Royal Caribbean Cruises's payout ratio is 24.92%.

Insider Buying and Selling 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 completion of the transaction, the director owned 165,421 shares of the company's stock, valued at $41,868,055.10. The trade was a 10.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 6.95% of the company's stock.

Hedge Funds Weigh In On Royal Caribbean Cruises

Large investors have recently made changes to their positions in the business. Financial Gravity Asset Management Inc. acquired a new position in shares of Royal Caribbean Cruises during the first quarter worth approximately $25,000. Hughes Financial Services LLC acquired a new position in shares of Royal Caribbean Cruises during the first quarter valued at about $26,000. Brown Brothers Harriman & Co. raised its position in shares of 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 during the last quarter. Opal Wealth Advisors LLC acquired a new position in shares of Royal Caribbean Cruises during the second quarter valued at about $27,000. Finally, Optimum Investment Advisors acquired a new position in Royal Caribbean Cruises in the 1st quarter valued at approximately $31,000. Institutional investors and hedge funds own 87.53% of the company's stock.

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.