Royal Caribbean Cruises Ltd. (NYSE:RCL) Given Average Recommendation of “Moderate Buy” by Brokerages

Royal Caribbean Cruises Ltd. (NYSE:RCL) has been assigned a consensus rating of “Moderate Buy” from the seventeen brokerages that are presently covering the firm, Marketbeat reports. Three equities research analysts have rated the stock with a hold recommendation and fourteen have issued a buy recommendation on the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $284.12.

Several research firms have commented on RCL. Susquehanna boosted their price target on shares of Royal Caribbean Cruises from $245.00 to $305.00 and gave the stock a “positive” rating in a report on Wednesday, January 29th. Barclays boosted their price target on shares of Royal Caribbean Cruises from $287.00 to $308.00 and gave the stock an “overweight” rating in a report on Wednesday, January 29th. Argus boosted their price target on shares of Royal Caribbean Cruises from $280.00 to $305.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. Bank of America boosted their price objective on shares of Royal Caribbean Cruises from $210.00 to $240.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. Finally, Mizuho restated an “outperform” rating and set a $253.00 price objective (down previously from $255.00) on shares of Royal Caribbean Cruises in a research report on Thursday, January 23rd.

Royal Caribbean Cruises Trading Down 6.0 %

NYSE RCL opened at $226.67 on Friday. The company has a quick ratio of 0.15, a current ratio of 0.17 and a debt-to-equity ratio of 2.39. Royal Caribbean Cruises has a 52 week low of $124.24 and a 52 week high of $277.08. The stock has a market capitalization of $61.00 billion, a PE ratio of 21.20, a price-to-earnings-growth ratio of 0.90 and a beta of 2.59. The firm has a 50 day moving average of $244.53 and a two-hundred day moving average of $217.40.

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

Royal Caribbean Cruises Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 4th. Investors of record on Friday, March 7th will be given a $0.75 dividend. This is an increase from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. The ex-dividend date is Friday, March 7th. This represents a $3.00 annualized dividend and a yield of 1.32%. Royal Caribbean Cruises’s dividend payout ratio is 28.06%.

Royal Caribbean Cruises declared that its Board of Directors has approved a share buyback program on Wednesday, February 12th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to buy up to 1.5% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other Royal Caribbean Cruises news, CEO Jason T. Liberty sold 58,000 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $261.95, for a total transaction of $15,193,100.00. Following the completion of the transaction, the chief executive officer now owns 143,214 shares in the company, valued at approximately $37,514,907.30. This represents a 28.83 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Laura H. Bethge sold 14,992 shares of the company’s stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $261.86, for a total transaction of $3,925,805.12. Following the transaction, the insider now owns 21,155 shares of the company’s stock, valued at approximately $5,539,648.30. The trade was a 41.48 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 109,492 shares of company stock worth $28,571,705. 7.95% of the stock is owned by insiders.

Hedge Funds Weigh In On Royal Caribbean Cruises

A number of institutional investors and hedge funds have recently made changes to their positions in RCL. Assenagon Asset Management S.A. grew its stake in shares of Royal Caribbean Cruises by 10.3% during the 3rd quarter. Assenagon Asset Management S.A. now owns 5,739 shares of the company’s stock worth $1,018,000 after purchasing an additional 538 shares during the period. PFG Investments LLC acquired a new stake in Royal Caribbean Cruises in the 3rd quarter valued at about $258,000. Patriot Financial Group Insurance Agency LLC acquired a new stake in Royal Caribbean Cruises in the 3rd quarter valued at about $210,000. abrdn plc grew its stake in Royal Caribbean Cruises by 29.0% in the 3rd quarter. abrdn plc now owns 66,576 shares of the company’s stock valued at $11,581,000 after acquiring an additional 14,954 shares during the last quarter. Finally, Valmark Advisers Inc. acquired a new stake in Royal Caribbean Cruises in the 3rd quarter valued at about $239,000. 87.53% of the stock is owned by institutional investors and hedge funds.

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.