Royal Caribbean Cruises (NYSE:RCL) Cut to Sell at StockNews.com

19 Sep 2024, 08:14 by Tristan Rich · The Markets Daily

StockNews.com cut shares of Royal Caribbean Cruises (NYSE:RCL – Free Report) from a hold rating to a sell rating in a report released on Monday morning.

A number of other analysts have also recently commented on the company. Susquehanna boosted their price objective on Royal Caribbean Cruises from $160.00 to $180.00 and gave the company a positive rating in a research report on Tuesday, July 30th. Morgan Stanley boosted their price target on shares of Royal Caribbean Cruises from $140.00 to $154.00 and gave the stock an equal weight rating in a report on Wednesday, August 7th. Barclays increased their price objective on shares of Royal Caribbean Cruises from $185.00 to $195.00 and gave the company an overweight rating in a report on Friday, July 26th. Citigroup upped their price target on shares of Royal Caribbean Cruises from $165.00 to $204.00 and gave the stock a buy rating in a research report on Wednesday, June 26th. Finally, UBS Group raised their price target on shares of Royal Caribbean Cruises from $168.00 to $183.00 and gave the company a buy rating in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Royal Caribbean Cruises currently has an average rating of Moderate Buy and a consensus price target of $182.31.

Get Our Latest Report on RCL

Royal Caribbean Cruises Stock Performance

RCL opened at $168.55 on Monday. The firm has a fifty day moving average price of $160.14 and a 200 day moving average price of $148.72. Royal Caribbean Cruises has a 1 year low of $78.35 and a 1 year high of $173.40. The stock has a market cap of $43.38 billion, a P/E ratio of 21.72, a P/E/G ratio of 0.47 and a beta of 2.61. The company has a debt-to-equity ratio of 3.20, a current ratio of 0.19 and a quick ratio of 0.17.

Royal Caribbean Cruises (NYSE:RCL – Get Free Report) last posted its earnings results on Thursday, July 25th. The company reported $3.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.76 by $0.45. Royal Caribbean Cruises had a net margin of 16.32% and a return on equity of 52.49%. The business had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.05 billion. During the same period in the prior year, the company posted $1.82 EPS. The company’s revenue for the quarter was up 16.4% on a year-over-year basis. Equities research analysts anticipate that Royal Caribbean Cruises will post 11.65 earnings per share for the current year.

Royal Caribbean Cruises Announces Dividend

The company also recently disclosed a — dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 20th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, September 20th. Royal Caribbean Cruises’s dividend payout ratio is currently 20.62%.

Insiders Place Their Bets

In other news, CFO Naftali Holtz purchased 5,350 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was acquired at an average price of $140.00 per share, with a total value of $749,000.00. Following the purchase, the chief financial officer now directly owns 48,256 shares in the company, valued at approximately $6,755,840. The acquisition was disclosed in a document filed with the SEC, which is available at this link. In other Royal Caribbean Cruises news, CFO Naftali Holtz purchased 5,350 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were acquired at an average price of $140.00 per share, with a total value of $749,000.00. Following the purchase, the chief financial officer now directly owns 48,256 shares in the company, valued at approximately $6,755,840. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Laura H. Bethge sold 3,073 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $168.71, for a total value of $518,445.83. Following the transaction, the insider now owns 27,388 shares of the company’s stock, valued at $4,620,629.48. The disclosure for this sale can be found here. 7.95% of the stock is owned by insiders.

Institutional Investors Weigh In On Royal Caribbean Cruises

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Capital International Investors boosted its position in shares of Royal Caribbean Cruises by 1.0% during the 1st quarter. Capital International Investors now owns 29,596,455 shares of the company’s stock worth $4,114,203,000 after purchasing an additional 286,868 shares during the period. Vanguard Group Inc. boosted its position in shares of Royal Caribbean Cruises by 0.5% during the first quarter. Vanguard Group Inc. now owns 25,409,272 shares of the company’s stock worth $3,532,143,000 after buying an additional 132,079 shares during the period. Norges Bank acquired a new stake in shares of Royal Caribbean Cruises in the fourth quarter valued at $323,251,000. Dimensional Fund Advisors LP grew its stake in shares of Royal Caribbean Cruises by 24.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,048,501 shares of the company’s stock valued at $326,616,000 after buying an additional 400,565 shares in the last quarter. Finally, D1 Capital Partners L.P. raised its holdings in shares of Royal Caribbean Cruises by 105.7% in the 2nd quarter. D1 Capital Partners L.P. now owns 1,512,103 shares of the company’s stock valued at $241,075,000 after buying an additional 777,103 shares during the period. 87.53% of the stock is owned by hedge funds and other institutional investors.

Royal Caribbean Cruises Company Profile

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