Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) were up 4.1% during mid-day trading on Tuesday after the company announced a dividend. The company traded as high as $68.48 and last traded at $68.15, with a volume of 2,239,079 shares traded. The stock had previously closed at $65.48.

The newly announced dividend which will be paid on Thursday, October 13th. Shareholders of record on Thursday, September 29th will be paid a $0.48 dividend. This is a positive change from Royal Caribbean Cruises’s previous quarterly dividend of $0.38. This represents a $1.92 dividend on an annualized basis and a yield of 2.93%. Royal Caribbean Cruises’s dividend payout ratio is currently 42.98%.

A number of equities analysts have weighed in on RCL shares. Citigroup Inc. restated a “buy” rating and issued a $95.00 target price on shares of Royal Caribbean Cruises in a research note on Wednesday, August 24th. Stifel Nicolaus decreased their target price on Royal Caribbean Cruises from $99.00 to $94.00 and set a “buy” rating on the stock in a research note on Thursday, July 28th. Zacks Investment Research cut Royal Caribbean Cruises from a “hold” rating to a “sell” rating in a report on Tuesday, August 23rd. Credit Suisse Group AG reiterated a “buy” rating and issued a $100.00 price objective on shares of Royal Caribbean Cruises in a report on Wednesday, August 3rd. Finally, Sanford C. Bernstein assumed coverage on Royal Caribbean Cruises in a report on Thursday, September 8th. They issued an “outperform” rating and a $90.00 price objective for the company. One research analyst has rated the stock with a sell rating, four have issued a hold rating and eighteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $94.13.

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The firm’s 50-day moving average price is $69.74 and its 200-day moving average price is $73.76. The company has a market capitalization of $14.71 billion, a P/E ratio of 19.502 and a beta of 1.73.

Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $1.09 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.02 by $0.07. Royal Caribbean Cruises had a return on equity of 14.76% and a net margin of 9.05%. The company had revenue of $2.11 billion for the quarter, compared to analysts’ expectations of $2.17 billion. During the same period in the previous year, the firm posted $0.84 earnings per share. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. On average, equities research analysts forecast that Royal Caribbean Cruises Ltd. will post $6.08 earnings per share for the current year.

In other Royal Caribbean Cruises news, Director Vagn O. Sorensen bought 1,100 shares of the company’s stock in a transaction on Thursday, August 18th. The stock was acquired at an average price of $70.50 per share, for a total transaction of $77,550.00. Following the completion of the transaction, the director now directly owns 18,871 shares of the company’s stock, valued at $1,330,405.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Lisa Lutoff-Perlo sold 6,790 shares of the business’s stock in a transaction that occurred on Friday, August 5th. The shares were sold at an average price of $74.46, for a total value of $505,583.40. Following the transaction, the chief executive officer now owns 34,450 shares of the company’s stock, valued at approximately $2,565,147. The disclosure for this sale can be found here. Company insiders own 16.80% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Primecap Management Co. CA raised its position in shares of Royal Caribbean Cruises by 31.6% in the second quarter. Primecap Management Co. CA now owns 7,721,989 shares of the company’s stock valued at $518,532,000 after buying an additional 1,852,117 shares during the period. Norges Bank acquired a new position in shares of Royal Caribbean Cruises during the fourth quarter valued at about $144,680,000. Emerald Acquisition Ltd. acquired a new position in shares of Royal Caribbean Cruises during the second quarter valued at about $80,476,000. Suvretta Capital Management LLC acquired a new position in shares of Royal Caribbean Cruises during the first quarter valued at about $78,724,000. Finally, MD Sass Investors Services Inc. raised its position in shares of Royal Caribbean Cruises by 1,406.8% in the second quarter. MD Sass Investors Services Inc. now owns 883,334 shares of the company’s stock valued at $59,312,000 after buying an additional 824,709 shares during the period. Institutional investors and hedge funds own 75.28% of the company’s stock.

About Royal Caribbean Cruises

Royal Caribbean Cruises Ltd. is a cruise company. The Company owns various brands, such as Royal Caribbean International, Celebrity Cruises, Pullmantur, Azamara Club Cruises, CDF Croisieres de France and joint venture interest in TUI Cruises. It operates approximately 23 ships with an aggregate capacity of approximately 68,600 berths under its Royal Caribbean International brand, offering cruise itineraries that range from 2 to 24 nights.

5 Day Chart for NYSE:RCL

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