Royal Caribbean Cruises Ltd. (NYSE:RCL) Stock Has Average Price Target of $358.88 According to Brokerages

Royal Caribbean Cruises Ltd. (NYSE:RCL) has been given an average rating of “Moderate Buy” by the twenty-nine ratings firms that are currently covering the company, Marketbeat.com reports. Eight equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating on the company. The average 12 month price objective among analysts that have updated their coverage on the stock in the last year is $358.88.

A number of brokerages have recently issued reports on RCL. Jefferies Financial Group set a $350.00 price target on Royal Caribbean Cruises and gave the company a “buy” rating in a report on Wednesday, October 28th. Stifel Nicolaus upped their price objective on Royal Caribbean Cruises from $410.00 to $415.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. TD Cowen upped their price objective on Royal Caribbean Cruises from $337.00 to $340.00 and gave the stock a “buy” rating in a research note on Tuesday, October 20th. Bank of America set a $365.00 price objective on Royal Caribbean Cruises and gave the company a “buy” rating in a research report on Thursday. Finally, Deutsche Bank upgraded Royal Caribbean Cruises from a “hold” rating to a “buy” rating and lifted their target price for the company from $299.00 to $330.00 in a research note on Monday, September 28th.

Royal Caribbean Cruises Stock Up 0.4%

NYSE:RCL traded up $1.36 during trading hours on Friday, reaching $323.36. The company’s stock had a trading volume of 1,248,044 shares, compared to its average volume of 2,233,756. The company has a market capitalization of $86.49 billion, a P/E ratio of 19.14, a price-to-earnings-growth ratio of 1.12 and a beta of 1.88. Royal Caribbean Cruises has a 12 month low of $222.22 and a 12 month high of $356.39. The company has a debt-to-equity ratio of 1.69, a quick ratio of 0.19 and a current ratio of 0.22. The stock has a 50 day moving average price of $281.51 and a two-hundred day moving average price of $289.00.

Royal Caribbean Cruises (NYSE:RCL) last posted its earnings results on Tuesday, October 27th. The company reported $6.57 earnings per share for the quarter, topping analysts’ consensus estimates of $6.38 by $0.19. The company had revenue of $5.59 billion during the quarter, compared to analyst estimates of $5.61 billion. Royal Caribbean Cruises had a return on equity of 43.40% and a net margin of 23.78%. Royal Caribbean Cruises’s revenue was up 8.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $5.75 earnings per share. Equities analysts predict that Royal Caribbean Cruises will post 17.94 EPS for the current fiscal year.

Royal Caribbean Cruises Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 8th. Shareholders of record on Thursday, September 17th were given a dividend of $1.50 per share. This represents a $6.00 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Thursday, September 17th. Royal Caribbean Cruises’s dividend payout ratio is presently 35.52%.

Insider Activity

In other news, Director Arne Wilhelmsen sold 35,000 shares of the firm’s stock in a transaction dated Thursday, November 12th. The shares were sold at an average price of $325.50, for a total value of $11,392,500.00. Following the sale, the director directly owned 15,524,236 shares in the company, valued at approximately $5,053,138,818. This trade represents a 0.22% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Maritza Montiel sold 400 shares of the firm’s stock in a transaction dated Friday, October 30th. The shares were sold at an average price of $307.21, for a total transaction of $122,884.00. Following the completion of the sale, the director owned 13,202 shares in the company, valued at $4,055,786.42. This represents a 2.94% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 912,074 shares of company stock valued at $304,196,365. Insiders own 6.44% of the company’s stock.

Institutional Investors Weigh In On Royal Caribbean Cruises

Institutional investors have recently bought and sold shares of the company. Bank of America Corp DE purchased a new stake in Royal Caribbean Cruises during the second quarter worth $321,332,000. Envestnet Asset Management Inc. grew its position in Royal Caribbean Cruises by 5.0% during the second quarter. Envestnet Asset Management Inc. now owns 293,714 shares of the company’s stock valued at $93,261,000 after buying an additional 14,018 shares during the period. Quantitative Investment Management LLC acquired a new stake in Royal Caribbean Cruises during the second quarter valued at $3,586,000. Proficio Capital Partners LLC purchased a new position in Royal Caribbean Cruises in the second quarter valued at $650,000. Finally, The Manufacturers Life Insurance Company purchased a new position in Royal Caribbean Cruises in the second quarter valued at $39,097,000. 87.53% of the stock is currently owned by institutional investors and hedge funds.

More Royal Caribbean Cruises News

Here’s some of the latest news about RCL:

• Positive Sentiment: Zacks highlighted RCL as a strong growth stock, which may attract investors seeking companies with growth characteristics. The article’s excerpt does not provide specific forecasts or new company results. Article: Here’s Why Royal Caribbean (RCL) is a Strong Growth Stock
• Neutral Sentiment: Morgan Stanley raised its price target from $300 to $330 but maintained an “equal weight” rating. The new target implies only modest upside from the cited $323.36 share price, suggesting the firm sees limited near-term outperformance. Article: Royal Caribbean Cruises Given New $330.00 Price Target at Morgan Stanley
• Negative Sentiment: Three reports describe Royal Caribbean directors selling shares worth approximately $159.8 million in total. Large insider sales can weigh on sentiment, although the headlines do not explain the reasons for the transactions. Article: Director Sells $43,237,536.08 in Stock Article: Director Sells $59,457,945.12 in Stock Article: Director Sells $57,128,299.40 in Stock

About Royal Caribbean Cruises

Royal Caribbean Group, formerly known as Royal Caribbean Cruises Ltd., is a global cruise vacation company. Its brands include Royal Caribbean International, Celebrity Cruises and Silversea Cruises, which offer voyages ranging from large-ship family vacations to premium and luxury experiences. The company serves travelers through itineraries to destinations around the world, including the Caribbean, Europe, Alaska and Asia. Its vacation offerings combine onboard accommodations, dining and entertainment with shore excursions and visits to ports and private destinations.