Royal Caribbean shares open higher after Bank of America upgrade
The bank moved the cruise company from neutral to buy and established a $330.00 price target.
Royal Caribbean Cruises shares opened at $257.20 on Tuesday after previously closing at $242.59. The move followed Bank of America’s upgrade of the stock from neutral to buy and its assignment of a $330.00 price target.
Royal Caribbean reported quarterly earnings per share of $4.21, exceeding the consensus estimate of $3.98 by $0.23. Revenue totaled $4.83 billion, compared with analyst expectations of $4.82 billion. The company’s revenue increased 6.5% from the same quarter in the previous year.
The cruise 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.
Royal Caribbean also declared a quarterly dividend of $1.50 per share, representing an annualized dividend of $6.00 and a yield of 2.3%. Royal Caribbean Group’s principal brands are Royal Caribbean International, Celebrity Cruises and Silversea Cruises.
