Royal Caribbean Cruises Ltd. (NYSE:RCL) Sees Large Decrease in Short Interest

Royal Caribbean Cruises Ltd. (NYSE:RCL) was the recipient of a large decline in short interest during the month of August. As of August 31st, there was short interest totalling 11,100,000 shares, a decline of 28.3% from the August 15th total of 15,480,000 shares. Currently, 4.7% of the shares of the company are short sold. Based on an average trading volume of 2,320,000 shares, the short-interest ratio is currently 4.8 days.

Royal Caribbean Cruises Trading Up 1.4 %

Shares of NYSE:RCL traded up $2.39 during trading on Friday, hitting $167.96. 1,379,820 shares of the company’s stock were exchanged, compared to its average volume of 2,504,721. The company has a current ratio of 0.19, a quick ratio of 0.17 and a debt-to-equity ratio of 3.20. The firm has a market cap of $43.22 billion, a P/E ratio of 21.64, a PEG ratio of 0.46 and a beta of 2.61. The firm has a 50-day moving average price of $159.74 and a two-hundred day moving average price of $147.94. Royal Caribbean Cruises has a 1-year low of $78.35 and a 1-year high of $173.37.

Royal Caribbean Cruises (NYSE:RCL) last released its earnings results on Thursday, July 25th. The company reported $3.21 EPS for the quarter, topping analysts’ consensus estimates of $2.76 by $0.45. The firm had revenue of $4.10 billion during the quarter, compared to analyst estimates of $4.05 billion. Royal Caribbean Cruises had a net margin of 16.32% and a return on equity of 52.49%. The business’s quarterly revenue was up 16.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.82 EPS. Equities analysts predict that Royal Caribbean Cruises will post 11.65 earnings per share for the current year.

Royal Caribbean Cruises Announces Dividend

The business also recently announced a — dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 20th will be paid a $0.40 dividend. The ex-dividend date is Friday, September 20th. Royal Caribbean Cruises’s payout ratio is 20.62%.

Analyst Ratings Changes

A number of analysts have commented on RCL shares. Morgan Stanley raised their price objective on Royal Caribbean Cruises from $140.00 to $154.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 7th. Tigress Financial lifted their price target on shares of Royal Caribbean Cruises from $155.00 to $210.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Citigroup increased their price objective on shares of Royal Caribbean Cruises from $165.00 to $204.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. UBS Group lifted their target price on shares of Royal Caribbean Cruises from $168.00 to $183.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Finally, Macquarie increased their price target on shares of Royal Caribbean Cruises from $165.00 to $189.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 30th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, Royal Caribbean Cruises currently has a consensus rating of “Moderate Buy” and a consensus target price of $182.13.

Insiders Place Their Bets

In related news, insider Laura H. Bethge sold 3,073 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $168.71, for a total transaction of $518,445.83. Following the completion of the sale, the insider now owns 27,388 shares in the company, valued at approximately $4,620,629.48. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, Director Vagn O. Sorensen sold 5,800 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $158.50, for a total transaction of $919,300.00. Following the completion of the transaction, the director now owns 25,837 shares of the company’s stock, valued at $4,095,164.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Laura H. Bethge sold 3,073 shares of the stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $168.71, for a total transaction of $518,445.83. Following the completion of the sale, the insider now owns 27,388 shares of the company’s stock, valued at approximately $4,620,629.48. The disclosure for this sale can be found here. Company insiders own 7.95% of the company’s stock.

Hedge Funds Weigh In On Royal Caribbean Cruises

Several institutional investors have recently modified their holdings of RCL. Meeder Asset Management Inc. grew its holdings in shares of Royal Caribbean Cruises by 50.3% in the 2nd quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock valued at $37,000 after buying an additional 78 shares during the period. Oppenheimer Asset Management Inc. lifted its holdings in Royal Caribbean Cruises by 1.0% during the second quarter. Oppenheimer Asset Management Inc. now owns 8,095 shares of the company’s stock worth $1,291,000 after acquiring an additional 81 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its stake in Royal Caribbean Cruises by 38.9% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 293 shares of the company’s stock valued at $47,000 after acquiring an additional 82 shares during the period. Parallel Advisors LLC increased its holdings in shares of Royal Caribbean Cruises by 3.9% in the second quarter. Parallel Advisors LLC now owns 2,213 shares of the company’s stock worth $353,000 after acquiring an additional 84 shares in the last quarter. Finally, Kowal Investment Group LLC lifted its holdings in shares of Royal Caribbean Cruises by 4.0% during the 1st quarter. Kowal Investment Group LLC now owns 2,286 shares of the company’s stock valued at $318,000 after purchasing an additional 87 shares in the last quarter. 87.53% of the stock is currently owned by institutional investors and hedge funds.

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.