Royal Caribbean Cruises Ltd. (NYSE:RCL) Insider Sells $3,925,805.12 in Stock

Royal Caribbean Cruises Ltd. (NYSE:RCL) insider Laura H. Bethge sold 14,992 shares of Royal Caribbean Cruises stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $261.86, for a total value of $3,925,805.12. Following the completion of the sale, the insider now directly owns 21,155 shares of the company’s stock, valued at approximately $5,539,648.30. This trade represents a 41.48 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Royal Caribbean Cruises Stock Performance

Shares of RCL opened at $234.16 on Friday. The company has a market cap of $63.02 billion, a PE ratio of 21.90, a price-to-earnings-growth ratio of 0.98 and a beta of 2.59. The company has a current ratio of 0.17, a quick ratio of 0.15 and a debt-to-equity ratio of 2.39. The stock has a 50-day moving average price of $244.35 and a 200-day moving average price of $212.42. Royal Caribbean Cruises Ltd. has a 12-month low of $119.48 and a 12-month high of $277.08.

Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.13. Royal Caribbean Cruises had a return on equity of 48.97% and a net margin of 17.46%. During the same quarter in the prior year, the firm posted $1.25 earnings per share. As a group, equities analysts forecast that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current fiscal year.

Royal Caribbean Cruises Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 7th will be issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.28%. This is a boost from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Friday, March 7th. Royal Caribbean Cruises’s dividend payout ratio (DPR) is currently 28.06%.

Royal Caribbean Cruises declared that its Board of Directors has authorized a share buyback plan on Wednesday, February 12th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to repurchase up to 1.5% of its shares through open market purchases. Shares buyback plans are often an indication that the company’s management believes its stock is undervalued.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on RCL. Bank of America lifted their price objective on Royal Caribbean Cruises from $210.00 to $240.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. Truist Financial lifted their price objective on Royal Caribbean Cruises from $204.00 to $272.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Mizuho reissued an “outperform” rating and issued a $253.00 price objective (down previously from $255.00) on shares of Royal Caribbean Cruises in a report on Thursday, January 23rd. JPMorgan Chase & Co. raised their target price on Royal Caribbean Cruises from $253.00 to $295.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Finally, Macquarie raised their target price on Royal Caribbean Cruises from $250.00 to $300.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Four analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $284.12.

Hedge Funds Weigh In On Royal Caribbean Cruises

A number of large investors have recently modified their holdings of the company. Dorsey & Whitney Trust CO LLC raised its holdings in shares of Royal Caribbean Cruises by 2.0% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 2,036 shares of the company’s stock valued at $470,000 after buying an additional 39 shares in the last quarter. Ostrum Asset Management raised its holdings in shares of Royal Caribbean Cruises by 0.3% during the 4th quarter. Ostrum Asset Management now owns 11,610 shares of the company’s stock valued at $2,678,000 after buying an additional 40 shares in the last quarter. Farther Finance Advisors LLC raised its holdings in shares of Royal Caribbean Cruises by 1.6% during the 4th quarter. Farther Finance Advisors LLC now owns 2,730 shares of the company’s stock valued at $630,000 after buying an additional 42 shares in the last quarter. Hemington Wealth Management raised its holdings in shares of Royal Caribbean Cruises by 9.0% during the 4th quarter. Hemington Wealth Management now owns 533 shares of the company’s stock valued at $123,000 after buying an additional 44 shares in the last quarter. Finally, Verdence Capital Advisors LLC raised its holdings in shares of Royal Caribbean Cruises by 3.6% during the 4th quarter. Verdence Capital Advisors LLC now owns 1,358 shares of the company’s stock valued at $313,000 after buying an additional 47 shares in the last quarter. 87.53% of the stock is owned by hedge funds and other institutional investors.

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.