Royal Caribbean Cruises (NYSE:RCL) Research Coverage Started at BNP Paribas

BNP Paribas started coverage on shares of Royal Caribbean Cruises (NYSE:RCL) in a research note issued to investors on Thursday, Marketbeat reports. The firm issued an outperform rating and a $262.00 price objective on the stock.

Other research analysts have also issued research reports about the stock. Macquarie upped their price target on shares of Royal Caribbean Cruises from $250.00 to $300.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Tigress Financial increased their target price on Royal Caribbean Cruises from $270.00 to $330.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Susquehanna reissued a “positive” rating on shares of Royal Caribbean Cruises in a report on Tuesday. JPMorgan Chase & Co. upped their price objective on Royal Caribbean Cruises from $253.00 to $295.00 and gave the company an “overweight” rating in a report on Friday, January 17th. Finally, Stifel Nicolaus boosted their target price on shares of Royal Caribbean Cruises from $250.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Three investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, Royal Caribbean Cruises has an average rating of “Moderate Buy” and an average target price of $282.33.

Royal Caribbean Cruises Stock Performance

Shares of RCL opened at $207.35 on Thursday. The company has a market cap of $55.80 billion, a PE ratio of 19.40, a price-to-earnings-growth ratio of 0.90 and a beta of 2.53. The firm has a 50-day moving average of $238.63 and a 200-day moving average of $223.72. Royal Caribbean Cruises has a one year low of $125.06 and a one year high of $277.08. The company has a debt-to-equity ratio of 2.39, a current ratio of 0.17 and a quick ratio of 0.15.

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 analysts’ consensus estimates of $1.50 by $0.13. Royal Caribbean Cruises had a return on equity of 48.97% and a net margin of 17.46%. During the same quarter in the previous year, the company earned $1.25 earnings per share. As a group, equities analysts forecast that Royal Caribbean Cruises will post 14.9 earnings per share for the current year.

Royal Caribbean Cruises Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 7th will be paid a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date is Friday, March 7th. This is a boost from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. Royal Caribbean Cruises’s payout ratio is presently 28.06%.

Royal Caribbean Cruises announced that its board has authorized a stock buyback plan on Wednesday, February 12th that permits the company to buyback $1.00 billion in outstanding shares. This buyback authorization permits the company to reacquire up to 1.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s leadership believes its stock is undervalued.

Insider Buying and Selling

In other Royal Caribbean Cruises news, insider Laura H. Bethge sold 14,992 shares of the business’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $261.86, for a total transaction of $3,925,805.12. Following the sale, the insider now directly owns 21,155 shares of the company’s stock, valued at $5,539,648.30. The trade was a 41.48 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Richard D. Fain sold 19,500 shares of the firm’s stock in a transaction on Thursday, February 13th. The shares were sold at an average price of $256.68, for a total transaction of $5,005,260.00. Following the transaction, the director now directly owns 185,021 shares of the company’s stock, valued at $47,491,190.28. The trade was a 9.53 % decrease in their position. 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 90 days. Insiders own 7.95% of the company’s stock.

Institutional Investors Weigh In On Royal Caribbean Cruises

Institutional investors have recently made changes to their positions in the stock. Safe Harbor Fiduciary LLC acquired a new position in shares of Royal Caribbean Cruises in the third quarter worth approximately $27,000. Brown Brothers Harriman & Co. lifted its position in shares of Royal Caribbean Cruises by 618.8% in the 4th quarter. Brown Brothers Harriman & Co. now owns 115 shares of the company’s stock worth $27,000 after purchasing an additional 99 shares during the period. LRI Investments LLC bought a new stake in shares of Royal Caribbean Cruises in the 3rd quarter valued at $31,000. Fourth Dimension Wealth LLC acquired a new stake in shares of Royal Caribbean Cruises during the fourth quarter worth $35,000. Finally, Bay Harbor Wealth Management LLC bought a new position in Royal Caribbean Cruises during the fourth quarter worth $36,000. Institutional investors own 87.53% of the company’s stock.

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.