By otakuyassine3@gmail.com 
Royal Caribbean Cruises (NYSE:RCL – Get Free Report) announced that its Board of Directors has initiated a stock buyback program on Wednesday, February 12th, RTT News reports. The company plans to buyback $1.00 billion in shares. This buyback authorization permits the company to reacquire up to 1.5% of its shares through open market purchases. Shares buyback programs are usually an indication that the company’s leadership believes its stock is undervalued.
Royal Caribbean Cruises Trading Up 1.6 %
RCL opened at $260.37 on Friday. The business has a 50 day simple moving average of $243.28 and a two-hundred day simple moving average of $207.65. The firm has a market capitalization of $70.01 billion, a price-to-earnings ratio of 24.36, a PEG ratio of 1.00 and a beta of 2.59. The company has a debt-to-equity ratio of 2.39, a current ratio of 0.17 and a quick ratio of 0.15. Royal Caribbean Cruises has a one year low of $113.10 and a one year high of $277.08.
Royal Caribbean Cruises (NYSE:RCL – Get Free Report) last released its quarterly earnings results on Tuesday, January 28th. The company reported $1.63 EPS for the quarter, beating analysts’ consensus estimates of $1.50 by $0.13. Royal Caribbean Cruises had a return on equity of 48.97% and a net margin of 17.46%. During the same quarter last year, the business posted $1.25 earnings per share. Analysts predict that Royal Caribbean Cruises will post 14.96 EPS for the current year.
Royal Caribbean Cruises Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Friday, April 4th. Shareholders of record on Friday, March 7th will be issued a dividend of $0.75 per share. This is an increase from Royal Caribbean Cruises’s previous quarterly dividend of $0.55. The ex-dividend date of this dividend is Friday, March 7th. This represents a $3.00 dividend on an annualized basis and a dividend yield of 1.15%. Royal Caribbean Cruises’s dividend payout ratio is 20.58%.
Analyst Ratings Changes
Several equities research analysts have issued reports on the company. Wells Fargo & Company lifted their price target on Royal Caribbean Cruises from $232.00 to $272.00 and gave the stock an “overweight” rating in a research note on Monday, January 27th. Macquarie lifted their price target on Royal Caribbean Cruises from $250.00 to $300.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Morgan Stanley boosted their target price on Royal Caribbean Cruises from $210.00 to $225.00 and gave the company an “equal weight” rating in a research note on Monday, February 3rd. The Goldman Sachs Group lowered their target price on Royal Caribbean Cruises from $275.00 to $270.00 and set a “buy” rating for the company in a research note on Friday, January 24th. Finally, StockNews.com raised Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a research note on Tuesday, November 26th. Four investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $284.12.
Get Our Latest Research Report on Royal Caribbean Cruises
Insiders Place Their Bets
In other Royal Caribbean Cruises news, EVP Harri U. Kulovaara sold 3,256 shares of the company’s stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $234.62, for a total transaction of $763,922.72. Following the transaction, the executive vice president now owns 22,348 shares in the company, valued at approximately $5,243,287.76. This represents a 12.72 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Arne Alexander Wilhelmsen sold 139,353 shares of the company’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $237.89, for a total value of $33,150,685.17. Following the transaction, the director now owns 18,167,507 shares in the company, valued at $4,321,868,240.23. This trade represents a 0.76 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 372,609 shares of company stock worth $87,647,208. Company insiders own 7.95% of the company’s stock.
Royal Caribbean Cruises Company Profile
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.
Further Reading
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