Royal Caribbean shares gain after price target increase
JPMorgan Chase raised its target for the cruise company, which also issued earnings guidance and declared a quarterly dividend.
Royal Caribbean Cruises Ltd. shares rose 4.6% on Thursday after JPMorgan Chase & Co. increased its price target from $345.00 to $394.00. The firm maintained an overweight rating on the stock.
Royal Caribbean reported quarterly earnings of $4.21 per share, surpassing the consensus estimate of $3.98 by $0.23. Quarterly revenue was $4.83 billion, compared with analyst expectations of $4.82 billion.
The company set fiscal 2026 earnings guidance at 17.730 to 17.870 per share and third-quarter 2026 guidance at 6.260 to 6.360 per share. It also declared a quarterly dividend of $1.50, payable on Thursday, October 8th, to investors of record on Thursday, September 17th.
Chief Executive Michael Bayley sold 12,811 Royal Caribbean shares in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $315.99, for a total value of $4,048,147.89.
Royal Caribbean also agreed to invest approximately $3 billion for a 50% stake in Sandals and Beaches Resorts, according to the report. The planned investment would create a joint venture valued at about $6 billion, with the transaction expected to close in early 2027.
