Royal Caribbean Cruises (NYSE:RCL) Now Covered by Analysts at TD Cowen

TD Cowen initiated coverage on shares of Royal Caribbean Cruises (NYSE:RCL) in a report released on Tuesday morning, MarketBeat.com reports. The brokerage issued a buy rating and a $405.00 price target on the stock.

RCL has been the topic of several other research reports. Loop Capital restated a “buy” rating and set a $290.00 price objective (up previously from $250.00) on shares of Royal Caribbean Cruises in a report on Tuesday, June 3rd. Northcoast Research began coverage on shares of Royal Caribbean Cruises in a research note on Friday, April 25th. They issued a “buy” rating and a $279.00 target price on the stock. Macquarie decreased their price target on shares of Royal Caribbean Cruises from $300.00 to $265.00 and set an “outperform” rating on the stock in a research note on Friday, May 9th. The Goldman Sachs Group cut their price target on shares of Royal Caribbean Cruises from $305.00 to $245.00 and set a “buy” rating on the stock in a report on Wednesday, April 23rd. Finally, Susquehanna dropped their target price on shares of Royal Caribbean Cruises from $295.00 to $275.00 and set a “positive” rating on the stock in a report on Wednesday, April 30th. Five research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $305.57.

Royal Caribbean Cruises Trading Up 0.7%

Shares of RCL stock opened at $348.78 on Tuesday. The company has a quick ratio of 0.15, a current ratio of 0.18 and a debt-to-equity ratio of 2.21. The company has a market capitalization of $94.72 billion, a PE ratio of 28.97, a price-to-earnings-growth ratio of 1.02 and a beta of 2.17. Royal Caribbean Cruises has a 12-month low of $130.08 and a 12-month high of $352.68. The firm has a 50 day moving average price of $284.00 and a two-hundred day moving average price of $246.31.

Royal Caribbean Cruises (NYSE:RCL) last issued its earnings results on Tuesday, April 29th. The company reported $2.71 EPS for the quarter, beating the consensus estimate of $2.53 by $0.18. The company had revenue of $4 billion during the quarter, compared to analysts’ expectations of $4.02 billion. Royal Caribbean Cruises had a net margin of 19.38% and a return on equity of 47.89%. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the previous year, the company earned $1.77 EPS. As a group, analysts predict that Royal Caribbean Cruises will post 14.9 earnings per share for the current year.

Royal Caribbean Cruises Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Stockholders of record on Wednesday, June 4th were issued a dividend of $0.75 per share. This represents a $3.00 dividend on an annualized basis and a dividend yield of 0.86%. Royal Caribbean Cruises’s dividend payout ratio is presently 24.92%.

Insider Buying and Selling

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

Institutional Trading of Royal Caribbean Cruises

A number of institutional investors have recently bought and sold shares of RCL. Norges Bank acquired a new stake in Royal Caribbean Cruises during the fourth quarter worth about $707,833,000. Nuveen LLC acquired a new stake in Royal Caribbean Cruises during the first quarter worth about $358,614,000. GAMMA Investing LLC increased its stake in Royal Caribbean Cruises by 22,154.9% during the first quarter. GAMMA Investing LLC now owns 1,410,962 shares of the company’s stock worth $289,868,000 after acquiring an additional 1,404,622 shares during the last quarter. Janus Henderson Group PLC increased its stake in Royal Caribbean Cruises by 3,544.4% during the fourth quarter. Janus Henderson Group PLC now owns 963,034 shares of the company’s stock worth $222,166,000 after acquiring an additional 936,609 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in Royal Caribbean Cruises by 2.1% during the first quarter. Vanguard Group Inc. now owns 28,674,763 shares of the company’s stock worth $5,890,943,000 after acquiring an additional 602,447 shares during the last quarter. 87.53% of the stock is currently owned by hedge funds and other institutional investors.

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.