Truist Financial Raises Royal Caribbean Cruises (NYSE:RCL) Price Target to $204.00

Royal Caribbean Cruises (NYSE:RCL) had its price objective lifted by Truist Financial from $175.00 to $204.00 in a research report sent to investors on Thursday, Benzinga reports. They currently have a buy rating on the stock.

A number of other equities research analysts have also recently issued reports on the stock. Tigress Financial increased their target price on shares of Royal Caribbean Cruises from $155.00 to $210.00 and gave the stock a buy rating in a research report on Friday, August 2nd. Argus lifted 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. Stifel Nicolaus increased their price target on Royal Caribbean Cruises from $180.00 to $200.00 and gave the stock a buy rating in a research report on Friday, July 19th. Mizuho lifted their price objective on Royal Caribbean Cruises from $168.00 to $195.00 and gave the company an outperform rating in a research report on Friday, July 26th. Finally, StockNews.com upgraded Royal Caribbean Cruises from a sell rating to a hold rating in a report on Tuesday, September 24th. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $184.13.

Royal Caribbean Cruises Stock Down 2.9 %

Shares of RCL opened at $177.54 on Thursday. The company has a quick ratio of 0.17, a current ratio of 0.19 and a debt-to-equity ratio of 3.20. The company has a 50-day moving average price of $161.59 and a two-hundred day moving average price of $151.03. The stock has a market cap of $45.69 billion, a price-to-earnings ratio of 22.88, a P/E/G 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.

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

Royal Caribbean Cruises Dividend Announcement

The firm also recently disclosed 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 of this dividend is Friday, September 20th. Royal Caribbean Cruises’s payout ratio is presently 20.62%.

Insider Buying and Selling at Royal Caribbean Cruises

In related news, CFO Naftali Holtz purchased 5,350 shares of Royal Caribbean Cruises stock in a transaction dated Friday, August 2nd. The shares were acquired at an average cost of $140.00 per share, for a total transaction of $749,000.00. Following the transaction, the chief financial officer now directly owns 48,256 shares of the company’s stock, valued at $6,755,840. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, CFO Naftali Holtz acquired 5,350 shares of Royal Caribbean Cruises stock in a transaction that occurred on Friday, August 2nd. The shares were acquired at an average price of $140.00 per share, with a total value of $749,000.00. Following the purchase, the chief financial officer now directly owns 48,256 shares of the company’s stock, valued at $6,755,840. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Vagn O. Sorensen sold 5,800 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $158.50, for a total transaction of $919,300.00. Following the transaction, the director now owns 25,837 shares of the company’s stock, valued at approximately $4,095,164.50. The disclosure for this sale can be found here. Corporate insiders own 7.95% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Scarborough Advisors LLC acquired a new stake in shares of Royal Caribbean Cruises during the fourth quarter worth about $26,000. Unique Wealth Strategies LLC bought a new position in Royal Caribbean Cruises in the second quarter valued at approximately $27,000. Creekmur Asset Management LLC acquired a new position in shares of Royal Caribbean Cruises in the fourth quarter valued at approximately $30,000. Versant Capital Management Inc increased its position in shares of Royal Caribbean Cruises by 905.3% during the second quarter. Versant Capital Management Inc now owns 191 shares of the company’s stock worth $30,000 after acquiring an additional 172 shares in the last quarter. Finally, AlphaMark Advisors LLC raised its holdings in shares of Royal Caribbean Cruises by 233.3% during the second quarter. AlphaMark Advisors LLC now owns 200 shares of the company’s stock worth $32,000 after acquiring an additional 140 shares during the period. 87.53% of the stock is currently owned by 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.