Earnest Partners LLC Purchases 17,543 Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL)

Earnest Partners LLC increased its stake in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 8.9% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 214,825 shares of the company’s stock after purchasing an additional 17,543 shares during the period. Earnest Partners LLC owned 0.08% of Royal Caribbean Cruises worth $29,863,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in RCL. Raymond James & Associates lifted its holdings in Royal Caribbean Cruises by 48.9% during the 4th quarter. Raymond James & Associates now owns 115,034 shares of the company’s stock worth $14,896,000 after purchasing an additional 37,784 shares in the last quarter. Planned Solutions Inc. purchased a new stake in shares of Royal Caribbean Cruises in the 4th quarter valued at about $52,000. Trueblood Wealth Management LLC purchased a new stake in shares of Royal Caribbean Cruises in the 4th quarter valued at about $212,000. McGlone Suttner Wealth Management Inc. purchased a new stake in shares of Royal Caribbean Cruises in the 4th quarter valued at about $111,000. Finally, Blue Trust Inc. raised its holdings in shares of Royal Caribbean Cruises by 367.2% in the 4th quarter. Blue Trust Inc. now owns 313 shares of the company’s stock valued at $41,000 after acquiring an additional 246 shares in the last quarter. Hedge funds and other institutional investors own 87.53% of the company’s stock.

Royal Caribbean Cruises Stock Up 1.0 %

Shares of RCL traded up $1.58 on Monday, reaching $155.14. The stock had a trading volume of 2,882,271 shares, compared to its average volume of 2,525,676. The company has a 50-day simple moving average of $156.33 and a 200-day simple moving average of $139.05. The firm has a market capitalization of $39.93 billion, a price-to-earnings ratio of 19.91, a price-to-earnings-growth ratio of 0.44 and a beta of 2.62. Royal Caribbean Cruises Ltd. has a 12-month low of $78.35 and a 12-month high of $173.37. The company has a debt-to-equity ratio of 3.20, a quick ratio of 0.17 and a current ratio of 0.19.

Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings data on Thursday, July 25th. The company reported $3.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.76 by $0.45. The business had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.05 billion. Royal Caribbean Cruises had a return on equity of 52.49% and a net margin of 16.32%. The firm’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 earnings per share. Sell-side analysts predict that Royal Caribbean Cruises Ltd. will post 11.63 EPS for the current year.

Royal Caribbean Cruises Announces Dividend

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

Insider Transactions at Royal Caribbean Cruises

In other news, Director Richard D. Fain sold 19,584 shares of the business’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $153.96, for a total value of $3,015,152.64. Following the completion of the transaction, the director now owns 179,117 shares in the company, valued at $27,576,853.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CAO Henry L. Pujol sold 9,944 shares of Royal Caribbean Cruises stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $141.23, for a total value of $1,404,391.12. Following the completion of the sale, the chief accounting officer now owns 16,687 shares of the company’s stock, valued at $2,356,705.01. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard D. Fain sold 19,584 shares of Royal Caribbean Cruises stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $153.96, for a total value of $3,015,152.64. Following the completion of the sale, the director now directly owns 179,117 shares of the company’s stock, valued at approximately $27,576,853.32. The disclosure for this sale can be found here. Insiders sold 102,884 shares of company stock worth $15,071,485 over the last quarter. 7.95% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Mizuho raised their price target on Royal Caribbean Cruises from $168.00 to $195.00 and gave the company an “outperform” rating in a report on Friday. Stifel Nicolaus increased their price objective on Royal Caribbean Cruises from $180.00 to $200.00 and gave the company a “buy” rating in a research report on Friday, July 19th. Susquehanna increased their price objective on Royal Caribbean Cruises from $150.00 to $160.00 and gave the company a “positive” rating in a research report on Friday, April 26th. JPMorgan Chase & Co. increased their price objective on Royal Caribbean Cruises from $175.00 to $210.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Finally, Argus increased their price objective on Royal Caribbean Cruises from $161.00 to $172.00 and gave the company a “buy” rating in a research report on Wednesday, May 29th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $172.25.

Royal Caribbean Cruises 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.