PNC Financial Services Group Inc. Buys 13,294 Shares of Royal Caribbean Cruises Ltd. $RCL

PNC Financial Services Group Inc. increased its position in shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) by 4.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 306,894 shares of the company’s stock after buying an additional 13,294 shares during the quarter. PNC Financial Services Group Inc. owned about 0.11% of Royal Caribbean Cruises worth $96,101,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in RCL. Roberts Capital Advisors LLC bought a new position in Royal Caribbean Cruises during the 1st quarter valued at $572,000. Vanguard Group Inc. boosted its holdings 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 purchasing an additional 602,447 shares during the last quarter. Cullen Frost Bankers Inc. grew its position in Royal Caribbean Cruises by 7,890.2% in the 1st quarter. Cullen Frost Bankers Inc. now owns 36,675 shares of the company’s stock worth $7,535,000 after purchasing an additional 36,216 shares in the last quarter. Shellback Capital LP grew its position in Royal Caribbean Cruises by 53.8% in the 1st quarter. Shellback Capital LP now owns 200,000 shares of the company’s stock worth $41,088,000 after purchasing an additional 70,000 shares in the last quarter. Finally, WESPAC Advisors LLC purchased a new stake in Royal Caribbean Cruises in the 2nd quarter valued at about $522,000. Institutional investors own 87.53% of the company’s stock.

Royal Caribbean Cruises Stock Performance

NYSE RCL opened at $263.38 on Thursday. Royal Caribbean Cruises Ltd. has a 52-week low of $164.01 and a 52-week high of $366.50. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.21 and a current ratio of 0.16. The company has a market capitalization of $71.83 billion, a P/E ratio of 17.71, a P/E/G ratio of 0.84 and a beta of 2.04. The company has a fifty day moving average of $310.36 and a 200-day moving average of $300.60.

Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings results on Tuesday, October 28th. The company reported $5.75 EPS for the quarter, beating analysts’ consensus estimates of $5.68 by $0.07. Royal Caribbean Cruises had a net margin of 23.33% and a return on equity of 44.68%. The business had revenue of $5.14 billion for the quarter, compared to analysts’ expectations of $5.16 billion. During the same period last year, the business earned $5.20 earnings per share. The business’s quarterly revenue was up 5.2% on a year-over-year basis. Royal Caribbean Cruises has set its FY 2025 guidance at 15.580-15.630 EPS. Q4 2025 guidance at 2.740-2.790 EPS. As a group, equities research analysts predict that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current fiscal year.

Royal Caribbean Cruises Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, October 13th. Shareholders of record on Thursday, September 25th were given a dividend of $1.00 per share. This represents a $4.00 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Thursday, September 25th. This is an increase from Royal Caribbean Cruises’s previous quarterly dividend of $0.75. Royal Caribbean Cruises’s dividend payout ratio is currently 26.90%.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Wall Street Zen cut Royal Caribbean Cruises from a “buy” rating to a “hold” rating in a research report on Saturday, November 1st. Bank of America boosted their price target on shares of Royal Caribbean Cruises from $230.00 to $355.00 and gave the stock a “neutral” rating in a report on Wednesday, July 23rd. Tigress Financial raised their price objective on shares of Royal Caribbean Cruises from $330.00 to $415.00 and gave the stock a “buy” rating in a report on Thursday, August 21st. TD Cowen assumed coverage on shares of Royal Caribbean Cruises in a research note on Tuesday, July 22nd. They issued a “buy” rating and a $405.00 target price on the stock. Finally, Sanford C. Bernstein reiterated an “outperform” rating on shares of Royal Caribbean Cruises in a research note on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat.com, Royal Caribbean Cruises has a consensus rating of “Moderate Buy” and an average target price of $324.64.

Insider Activity at Royal Caribbean Cruises

In other news, Director Vagn O. Sorensen sold 10,300 shares of Royal Caribbean Cruises stock in a transaction dated Tuesday, August 19th. The shares were sold at an average price of $330.04, for a total transaction of $3,399,412.00. Following the sale, the director owned 16,407 shares of the company’s stock, valued at approximately $5,414,966.28. The trade was a 38.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Maritza Gomez Montiel sold 1,100 shares of the business’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $281.76, for a total transaction of $309,936.00. Following the transaction, the director owned 14,234 shares in the company, valued at $4,010,571.84. This represents a 7.17% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 6.95% 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.