Susquehanna Cuts Royal Caribbean Cruises (NYSE:RCL) Price Target to $295.00

Royal Caribbean Cruises (NYSE:RCL) had its price target reduced by Susquehanna from $305.00 to $295.00 in a research note published on Wednesday,Benzinga reports. They currently have a positive rating on the stock.

Other analysts have also recently issued research reports about the stock. Loop Capital raised shares of Royal Caribbean Cruises from a “hold” rating to a “buy” rating and set a $250.00 target price for the company in a research note on Wednesday. Morgan Stanley boosted their target price on shares of Royal Caribbean Cruises from $210.00 to $225.00 and gave the stock an “equal weight” rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. boosted their target price on shares of Royal Caribbean Cruises from $253.00 to $295.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Barclays upped their price objective on shares of Royal Caribbean Cruises from $287.00 to $308.00 and gave the company an “overweight” rating in a research note on Wednesday, January 29th. Finally, Citigroup upped their price objective on shares of Royal Caribbean Cruises from $283.00 to $304.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Three research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $283.53.

Royal Caribbean Cruises Stock Down 0.9 %

RCL opened at $213.59 on Wednesday. Royal Caribbean Cruises has a fifty-two week low of $125.06 and a fifty-two week high of $277.08. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.15 and a current ratio of 0.17. The company has a fifty day moving average of $243.51 and a two-hundred day moving average of $217.85. The stock has a market capitalization of $57.48 billion, a price-to-earnings ratio of 19.98, a PEG ratio of 0.90 and a beta of 2.53.

Royal Caribbean Cruises (NYSE:RCL) last released its earnings results on Tuesday, January 28th. The company reported $1.63 EPS for the quarter, topping analysts’ consensus estimates 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 company earned $1.25 earnings per share. On average, research analysts expect that Royal Caribbean Cruises will post 14.9 earnings per share for the current year.

Royal Caribbean Cruises Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 7th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.40%. This is a positive change 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 payout ratio is presently 28.06%.

Royal Caribbean Cruises declared that its board has authorized a stock repurchase plan on Wednesday, February 12th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to purchase up to 1.5% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Royal Caribbean Cruises

In other news, CFO Naftali Holtz sold 17,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $261.62, for a total value of $4,447,540.00. Following the transaction, the chief financial officer now directly owns 42,127 shares in the company, valued at approximately $11,021,265.74. This represents a 28.75 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Jason T. Liberty sold 58,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 18th. The stock was 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 109,492 shares of company stock worth $28,571,705 in the last ninety days. 7.95% of the stock is owned by insiders.

Hedge Funds Weigh In On Royal Caribbean Cruises

Several large investors have recently made changes to their positions in the stock. Park Square Financial Group LLC acquired a new position in shares of Royal Caribbean Cruises in the 4th quarter worth approximately $90,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Royal Caribbean Cruises during the 4th quarter worth approximately $28,954,000. Capital A Wealth Management LLC purchased a new stake in Royal Caribbean Cruises during the 4th quarter worth approximately $40,000. Leigh Baldwin & CO. LLC purchased a new stake in Royal Caribbean Cruises during the 4th quarter worth approximately $279,000. Finally, Armis Advisers LLC purchased a new stake in Royal Caribbean Cruises during the 4th quarter worth approximately $592,000. 87.53% of the stock is currently owned by institutional investors and hedge funds.

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.