May 20 (Reuters) - ** Shares of Royal Caribbean Cruises RCL.N down 5% at a one-year low after Mexico rejects cruise operator's 'Perfect Day' water park
** Mexican authorities reject project following backlash from residents and environmental groups on ecological impact

** RCL told Reuters it regrets the decision but respects Mexico's environmental authorities, says optimistic about investing in country

** Co's Perfect Day Mexico was part of a strategy to expand investments in land-based destinations

** Cruise operators remain under pressure as they navigate higher fuel costs amid Iran war; expects fuel costs to be $1.3 billion higher than earlier FY forecast of $1.17 billion
** 21 out of 29 analysts rate co as "BUY"; median PT is $340.00- LSEG data
** RCL down almost 17% so far this year vs peers Norwegian Cruise NCLH.N and Carnival Corp's .CCL.N decline of 33% and 22% YTD