Royal Caribbean Cruises (NYSE:RCL) Price Target Increased to $204.00 by Analysts at Truist Financial

Royal Caribbean Cruises (NYSE:RCL) had its target price boosted by Truist Financial from $175.00 to $204.00 in a research note released on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities research analysts have also recently issued reports on RCL. Bank of America upped their price objective on Royal Caribbean Cruises from $145.00 to $172.00 and gave the stock a neutral rating in a research note on Tuesday, July 23rd. JPMorgan Chase & Co. increased their price target on shares of Royal Caribbean Cruises from $210.00 to $213.00 and gave the company an overweight rating in a research note on Monday, September 16th. UBS Group boosted their price objective on shares of Royal Caribbean Cruises from $168.00 to $183.00 and gave the stock a buy rating in a research note on Wednesday, July 31st. Argus raised their target price on shares of Royal Caribbean Cruises from $161.00 to $172.00 and gave the company a buy rating in a research note on Wednesday, May 29th. Finally, StockNews.com raised Royal Caribbean Cruises from a sell rating to a hold rating in a research report on Tuesday, September 24th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus price target of $184.13.

Royal Caribbean Cruises Stock Performance

Shares of RCL opened at $177.54 on Thursday. The stock has a market capitalization of $45.69 billion, a price-to-earnings ratio of 22.88, a PEG ratio of 0.51 and a beta of 2.61. Royal Caribbean Cruises has a 12 month low of $78.35 and a 12 month high of $184.41. The firm has a fifty day simple moving average of $161.59 and a 200 day simple moving average of $151.03. The company has a current ratio of 0.19, a quick ratio of 0.17 and a debt-to-equity ratio of 3.20.

Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings data on Thursday, July 25th. The company reported $3.21 EPS for the quarter, topping analysts’ consensus estimates of $2.76 by $0.45. The company had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.05 billion. Royal Caribbean Cruises had a net margin of 16.32% and a return on equity of 52.49%. The company’s quarterly revenue was up 16.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.82 EPS. Research analysts forecast that Royal Caribbean Cruises will post 11.66 EPS for the current fiscal year.

Royal Caribbean Cruises Announces Dividend

The firm also recently declared a — dividend, which will be paid on Friday, October 11th. Investors 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 dividend payout ratio (DPR) is presently 20.62%.

Insiders Place Their Bets

In other Royal Caribbean Cruises news, insider Laura H. Bethge sold 3,073 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $168.71, for a total transaction of $518,445.83. Following the transaction, the insider now owns 27,388 shares in the company, valued at approximately $4,620,629.48. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 sale, the insider now owns 27,388 shares of the company’s stock, valued at $4,620,629.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Naftali Holtz acquired 5,350 shares of the stock in a transaction on Friday, August 2nd. The shares were bought at an average price of $140.00 per share, for a total transaction of $749,000.00. Following the purchase, the chief financial officer now owns 48,256 shares in the company, valued at $6,755,840. The disclosure for this purchase can be found here. Corporate insiders own 7.95% of the company’s stock.

Institutional Investors Weigh In On Royal Caribbean Cruises

Several institutional investors and hedge funds have recently bought and sold shares of the company. Centaurus Financial Inc. lifted its holdings in shares of Royal Caribbean Cruises by 11.4% during the 2nd quarter. Centaurus Financial Inc. now owns 8,686 shares of the company’s stock worth $1,385,000 after acquiring an additional 888 shares during the period. Sanctuary Advisors LLC acquired a new stake in shares of Royal Caribbean Cruises in the 2nd quarter valued at $2,624,000. Dana Investment Advisors Inc. bought a new position in shares of Royal Caribbean Cruises in the 2nd quarter valued at $325,000. New Wave Wealth Advisors LLC acquired a new position in shares of Royal Caribbean Cruises during the 2nd quarter worth $611,000. Finally, Teachers Retirement System of The State of Kentucky lifted its position in shares of Royal Caribbean Cruises by 809.6% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 173,124 shares of the company’s stock worth $27,601,000 after buying an additional 154,090 shares during the last quarter. Institutional investors 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.