Stifel Nicolaus Forecasts Strong Price Appreciation for Royal Caribbean Cruises (NYSE:RCL) Stock

Royal Caribbean Cruises (NYSE:RCL) had its price target raised by Stifel Nicolaus from $275.00 to $310.00 in a research report report published on Wednesday,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other brokerages have also issued reports on RCL. Jefferies Financial Group began coverage on Royal Caribbean Cruises in a research note on Monday, March 31st. They issued a “hold” rating and a $230.00 target price for the company. Truist Financial boosted their target price on shares of Royal Caribbean Cruises from $272.00 to $275.00 and gave the company a “buy” rating in a research note on Monday, May 19th. Morgan Stanley increased their price target on Royal Caribbean Cruises from $220.00 to $230.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 6th. UBS Group set a $311.00 target price on shares of Royal Caribbean Cruises and gave the company a “buy” rating in a research report on Tuesday, May 20th. Finally, Tigress Financial boosted their price target on Royal Caribbean Cruises from $270.00 to $330.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Four research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $276.90.

Royal Caribbean Cruises Price Performance

NYSE RCL opened at $276.54 on Wednesday. The firm’s 50 day moving average price is $224.35 and its 200-day moving average price is $233.05. Royal Caribbean Cruises has a 52-week low of $130.08 and a 52-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 market cap of $75.10 billion, a PE ratio of 25.87, a P/E/G ratio of 0.90 and a beta of 2.14.

Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings results on Tuesday, April 29th. The company reported $2.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.18. The business had revenue of $4 billion for the quarter, compared to analyst estimates of $4.02 billion. Royal Caribbean Cruises had a net margin of 17.46% and a return on equity of 48.97%. Royal Caribbean Cruises’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.77 EPS. Sell-side analysts forecast that Royal Caribbean Cruises will post 14.9 EPS for the current fiscal year.

Royal Caribbean Cruises announced that its Board of Directors has initiated a share 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 buy up to 1.5% of its shares through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its shares are undervalued.

Royal Caribbean Cruises Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 3rd. Investors of record on Wednesday, June 4th will be issued a $0.75 dividend. This represents a $3.00 annualized dividend and a yield of 1.08%. Royal Caribbean Cruises’s dividend payout ratio (DPR) is currently 24.92%.

Insiders Place Their Bets

In other news, Director Richard D. Fain sold 19,600 shares of the stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $253.10, for a total transaction of $4,960,760.00. Following the sale, the director now owns 165,421 shares of the company’s stock, valued at approximately $41,868,055.10. This represents a 10.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.95% of the stock is owned by insiders.

Hedge Funds Weigh In On Royal Caribbean Cruises

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Financial Gravity Asset Management Inc. acquired a new stake in Royal Caribbean Cruises in the 1st quarter valued at about $25,000. Hughes Financial Services LLC purchased a new stake in Royal Caribbean Cruises in the first quarter valued at $26,000. Brown Brothers Harriman & Co. boosted 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 valued at $27,000 after purchasing an additional 99 shares during the period. Optimum Investment Advisors acquired a new position in shares of Royal Caribbean Cruises in the 1st quarter valued at $31,000. Finally, Fourth Dimension Wealth LLC acquired a new stake in Royal Caribbean Cruises during the 4th quarter worth $35,000. 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.