Royal Caribbean Cruises (NYSE:RCL) Insider Sells $2,562,053.34 in Stock

Royal Caribbean Cruises Ltd. (NYSE:RCL) insider Laura Bethge sold 7,854 shares of the stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $326.21, for a total value of $2,562,053.34. Following the completion of the transaction, the insider owned 32,786 shares in the company, valued at approximately $10,695,121.06. The trade was a 19.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Royal Caribbean Cruises Stock Down 1.4%

Shares of Royal Caribbean Cruises stock traded down $4.62 during trading hours on Wednesday, hitting $319.11. The company had a trading volume of 1,725,531 shares, compared to its average volume of 2,430,120. Royal Caribbean Cruises Ltd. has a twelve month low of $164.01 and a twelve month high of $366.50. The company has a market cap of $86.33 billion, a P/E ratio of 20.44, a price-to-earnings-growth ratio of 1.04 and a beta of 1.91. The company has a debt-to-equity ratio of 1.77, a current ratio of 0.18 and a quick ratio of 0.16. The company’s 50-day moving average is $299.53 and its two-hundred day moving average is $303.03.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings results on Thursday, January 29th. The company reported $2.80 EPS for the quarter, meeting the consensus estimate of $2.80. The firm had revenue of $4.26 billion during the quarter, compared to the consensus estimate of $4.28 billion. Royal Caribbean Cruises had a net margin of 23.80% and a return on equity of 45.06%. Royal Caribbean Cruises’s revenue for the quarter was up 13.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.63 EPS. Analysts anticipate that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current fiscal year.

Royal Caribbean Cruises declared that its Board of Directors has initiated a stock repurchase program on Wednesday, December 10th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the company to purchase up to 2.6% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

Royal Caribbean Cruises Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 3rd. Investors of record on Friday, March 6th will be issued a $1.50 dividend. The ex-dividend date is Friday, March 6th. This represents a $6.00 dividend on an annualized basis and a dividend yield of 1.9%. This is an increase from Royal Caribbean Cruises’s previous quarterly dividend of $1.00. Royal Caribbean Cruises’s payout ratio is currently 38.44%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on RCL shares. Morgan Stanley lifted their price objective on Royal Caribbean Cruises from $290.00 to $330.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 3rd. Jefferies Financial Group boosted their price objective on shares of Royal Caribbean Cruises from $275.00 to $334.00 and gave the company a “hold” rating in a research report on Friday, January 30th. Royal Bank Of Canada set a $360.00 price target on Royal Caribbean Cruises in a report on Friday, October 31st. Weiss Ratings restated a “buy (b-)” rating on shares of Royal Caribbean Cruises in a report on Friday, December 26th. Finally, Citigroup increased their target price on Royal Caribbean Cruises from $332.00 to $398.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $348.29.

Hedge Funds Weigh In On Royal Caribbean Cruises

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Montag A & Associates Inc. grew its holdings in Royal Caribbean Cruises by 184.4% during the 4th quarter. Montag A & Associates Inc. now owns 91 shares of the company’s stock valued at $25,000 after purchasing an additional 59 shares in the last quarter. Ares Financial Consulting LLC bought a new position in Royal Caribbean Cruises during the 4th quarter valued at $26,000. University of Texas Texas AM Investment Management Co. acquired a new position in Royal Caribbean Cruises during the 4th quarter worth $26,000. Kemnay Advisory Services Inc. bought a new stake in shares of Royal Caribbean Cruises in the 4th quarter worth about $27,000. Finally, Quattro Advisors LLC acquired a new stake in shares of Royal Caribbean Cruises in the 4th quarter valued at about $27,000. 87.53% of the stock is owned by institutional investors and hedge funds.

About Royal Caribbean Cruises

Royal Caribbean Cruises (NYSE: RCL), operating as part of the Royal Caribbean Group, is a global cruise company that develops, markets and operates passenger cruise ships. The company operates multiple consumer-facing cruise brands that offer short- and long-duration itineraries and a range of onboard experiences. Its core activities include itineraries and voyage operations, guest services and hospitality, onboard food and beverage, entertainment and recreation programming, and the commercial activities needed to sell and support cruises through both direct and travel‑agent channels.

Royal Caribbean’s ships serve a broad set of geographies worldwide, regularly deploying vessels in the Caribbean, North America (including Alaska), Europe, Asia, Australia and South America.