The Goldman Sachs Group Cuts Royal Caribbean Cruises (NYSE:RCL) Price Target to $270.00

Royal Caribbean Cruises (NYSE:RCL) had its price objective cut by The Goldman Sachs Group from $275.00 to $270.00 in a research note published on Friday morning,Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages have also recently commented on RCL. Bank of America increased their target price on shares of Royal Caribbean Cruises from $210.00 to $240.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Truist Financial boosted their target price on Royal Caribbean Cruises from $204.00 to $272.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Morgan Stanley increased their price target on Royal Caribbean Cruises from $190.00 to $210.00 and gave the company an “equal weight” rating in a report on Wednesday, January 8th. JPMorgan Chase & Co. boosted their price objective 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, Tigress Financial raised their target price on Royal Caribbean Cruises from $210.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $249.81.

Royal Caribbean Cruises Stock Performance

RCL opened at $232.59 on Friday. The firm’s fifty day simple moving average is $237.74 and its two-hundred day simple moving average is $198.00. Royal Caribbean Cruises has a 52-week low of $113.10 and a 52-week high of $258.70. The company has a market cap of $62.54 billion, a price-to-earnings ratio of 23.90, a PEG ratio of 0.50 and a beta of 2.59. The company has a quick ratio of 0.16, a current ratio of 0.19 and a debt-to-equity ratio of 2.63.

Royal Caribbean Cruises (NYSE:RCL) last announced its earnings results on Tuesday, October 29th. The company reported $5.20 EPS for the quarter, beating analysts’ consensus estimates of $5.05 by $0.15. Royal Caribbean Cruises had a return on equity of 52.92% and a net margin of 16.21%. The business had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $4.89 billion. During the same quarter in the prior year, the firm earned $3.85 earnings per share. The business’s revenue was up 17.5% compared to the same quarter last year. Equities analysts anticipate that Royal Caribbean Cruises will post 11.66 earnings per share for the current fiscal year.

Royal Caribbean Cruises Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Friday, December 27th were paid a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 0.95%. The ex-dividend date was Friday, December 27th. Royal Caribbean Cruises’s payout ratio is 22.61%.

Insider Buying and Selling at Royal Caribbean Cruises

In related news, Director Richard D. Fain sold 25,000 shares of the stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $210.02, for a total value of $5,250,500.00. Following the transaction, the director now directly owns 204,521 shares of the company’s stock, valued at $42,953,500.42. This trade represents a 10.89 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Henry L. Pujol sold 6,723 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $208.51, for a total transaction of $1,401,812.73. Following the completion of the transaction, the chief accounting officer now owns 9,964 shares of the company’s stock, valued at $2,077,593.64. This represents a 40.29 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 404,332 shares of company stock worth $94,299,521 over the last three months. Insiders own 7.95% of the company’s stock.

Institutional Trading of Royal Caribbean Cruises

Several institutional investors and hedge funds have recently bought and sold shares of the business. Park Avenue Securities LLC increased its stake in Royal Caribbean Cruises by 20.1% in the fourth quarter. Park Avenue Securities LLC now owns 6,630 shares of the company’s stock valued at $1,530,000 after purchasing an additional 1,111 shares during the period. Sanctuary Advisors LLC increased its holdings in shares of Royal Caribbean Cruises by 76.1% in the third quarter. Sanctuary Advisors LLC now owns 28,991 shares of the company’s stock valued at $5,142,000 after purchasing an additional 12,530 shares during the period. Wedge Capital Management L L P NC raised its stake in shares of Royal Caribbean Cruises by 2.6% during the third quarter. Wedge Capital Management L L P NC now owns 289,518 shares of the company’s stock worth $51,349,000 after purchasing an additional 7,298 shares during the last quarter. Souders Financial Advisors purchased a new position in Royal Caribbean Cruises in the 3rd quarter valued at $800,000. Finally, Swiss National Bank lifted its position in Royal Caribbean Cruises by 0.5% in the third quarter. Swiss National Bank now owns 725,638 shares of the company’s stock valued at $128,699,000 after purchasing an additional 3,800 shares during the period. Hedge funds and other 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.