Royal Caribbean Cruises (NYSE:RCL) Given New $295.00 Price Target at JPMorgan Chase & Co.

Royal Caribbean Cruises (NYSE:RCL) had its target price increased by JPMorgan Chase & Co. from $253.00 to $295.00 in a report published on Friday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

RCL has been the subject of several other reports. Citigroup boosted their price target on Royal Caribbean Cruises from $257.00 to $283.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. StockNews.com upgraded Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a research note on Tuesday, November 26th. Truist Financial increased their price target on shares of Royal Caribbean Cruises from $204.00 to $272.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. Stifel Nicolaus lifted their price objective on shares of Royal Caribbean Cruises from $250.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Finally, Wells Fargo & Company increased their target price on shares of Royal Caribbean Cruises from $180.00 to $232.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $246.50.

Royal Caribbean Cruises Stock Up 3.6 %

NYSE:RCL opened at $241.79 on Friday. The company has a debt-to-equity ratio of 2.63, a current ratio of 0.19 and a quick ratio of 0.16. The firm has a market cap of $65.01 billion, a PE ratio of 24.85, a price-to-earnings-growth ratio of 0.48 and a beta of 2.59. The company has a 50-day moving average of $237.34 and a 200 day moving average of $195.94. Royal Caribbean Cruises has a 1-year low of $113.10 and a 1-year high of $258.70.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings data on Tuesday, October 29th. The company reported $5.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.05 by $0.15. The firm had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.89 billion. Royal Caribbean Cruises had a net margin of 16.21% and a return on equity of 52.92%. The company’s quarterly revenue was up 17.5% on a year-over-year basis. During the same period last year, the firm earned $3.85 earnings per share. As a group, research analysts anticipate that Royal Caribbean Cruises will post 11.65 EPS for the current fiscal year.

Royal Caribbean Cruises Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Shareholders 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 0.91%. The ex-dividend date was Friday, December 27th. Royal Caribbean Cruises’s payout ratio is 22.61%.

Insider Transactions at Royal Caribbean Cruises

In other news, Director Richard D. Fain sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $210.02, for a total transaction of $5,250,500.00. Following the sale, the director now 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Arne Alexander Wilhelmsen sold 230,000 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $233.62, for a total transaction of $53,732,600.00. Following the completion of the transaction, the director now owns 18,556,860 shares of the company’s stock, valued at approximately $4,335,253,633.20. This represents a 1.22 % decrease in their ownership of the stock. 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 90 days. 7.95% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Royal Caribbean Cruises

Several hedge funds have recently modified their holdings of RCL. D1 Capital Partners L.P. raised its holdings in Royal Caribbean Cruises by 3.8% in the 3rd quarter. D1 Capital Partners L.P. now owns 1,570,262 shares of the company’s stock worth $278,502,000 after purchasing an additional 58,159 shares during the period. Swiss National Bank increased its holdings in Royal Caribbean Cruises by 0.5% in the 3rd quarter. Swiss National Bank now owns 725,638 shares of the company’s stock worth $128,699,000 after acquiring an additional 3,800 shares in the last quarter. Disciplined Growth Investors Inc. MN raised its position in Royal Caribbean Cruises by 2.3% during the third quarter. Disciplined Growth Investors Inc. MN now owns 591,552 shares of the company’s stock worth $104,918,000 after acquiring an additional 13,520 shares during the period. APG Asset Management N.V. lifted its holdings in Royal Caribbean Cruises by 4.0% during the second quarter. APG Asset Management N.V. now owns 461,762 shares of the company’s stock valued at $68,690,000 after purchasing an additional 17,601 shares in the last quarter. Finally, International Assets Investment Management LLC raised its position in shares of Royal Caribbean Cruises by 10,599.0% during the 3rd quarter. International Assets Investment Management LLC now owns 409,879 shares of the company’s stock worth $72,696,000 after purchasing an additional 406,048 shares during 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.