Royal Caribbean Cruises (NYSE:RCL) Hits New 1-Year High – Time to Buy?

Royal Caribbean Cruises Ltd. (NYSE:RCL)’s stock price reached a new 52-week high on Tuesday . The company traded as high as $236.43 and last traded at $235.22, with a volume of 121924 shares changing hands. The stock had previously closed at $234.82.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on RCL shares. Wells Fargo & Company upped their price objective on shares of Royal Caribbean Cruises from $180.00 to $232.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Tigress Financial lifted their price objective on Royal Caribbean Cruises from $210.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Citigroup increased their target price on Royal Caribbean Cruises from $253.00 to $257.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Morgan Stanley lifted their price target on Royal Caribbean Cruises from $140.00 to $154.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 7th. Finally, UBS Group increased their price objective on Royal Caribbean Cruises from $168.00 to $183.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $220.00.

Royal Caribbean Cruises Stock Performance

The company has a current ratio of 0.19, a quick ratio of 0.16 and a debt-to-equity ratio of 2.63. The stock’s 50 day moving average is $189.16 and its 200 day moving average is $166.37. The stock has a market capitalization of $62.99 billion, a price-to-earnings ratio of 24.08, a PEG ratio of 0.63 and a beta of 2.59.

Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $5.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.05 by $0.15. Royal Caribbean Cruises had a net margin of 16.21% and a return on equity of 52.92%. The company had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.89 billion. During the same quarter in the prior year, the firm earned $3.85 earnings per share. The company’s revenue for the quarter was up 17.5% compared to the same quarter last year. On average, analysts predict that Royal Caribbean Cruises Ltd. will post 11.64 earnings per share for the current year.

Insiders Place Their Bets

In other news, CAO Henry L. Pujol sold 6,723 shares of the company’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $208.51, for a total value of $1,401,812.73. Following the sale, the chief accounting officer now directly owns 9,964 shares in the company, valued at $2,077,593.64. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Royal Caribbean Cruises news, Director Richard D. Fain sold 25,000 shares of Royal Caribbean Cruises stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $210.02, for a total value of $5,250,500.00. Following the completion of the sale, the director now directly owns 204,521 shares of the company’s stock, valued at approximately $42,953,500.42. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Henry L. Pujol sold 6,723 shares of the stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $208.51, for a total value of $1,401,812.73. Following the transaction, the chief accounting officer now directly owns 9,964 shares in the company, valued at approximately $2,077,593.64. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 34,796 shares of company stock valued at $7,170,759. Corporate insiders own 7.95% of the company’s stock.

Hedge Funds Weigh In On Royal Caribbean Cruises

Several institutional investors have recently added to or reduced their stakes in RCL. D1 Capital Partners L.P. boosted its stake in Royal Caribbean Cruises by 105.7% in the 2nd quarter. D1 Capital Partners L.P. now owns 1,512,103 shares of the company’s stock worth $241,075,000 after buying an additional 777,103 shares during the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Royal Caribbean Cruises by 10,599.0% during the 3rd quarter. International Assets Investment Management LLC now owns 409,879 shares of the company’s stock worth $72,696,000 after acquiring an additional 406,048 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Royal Caribbean Cruises by 24.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,048,501 shares of the company’s stock worth $326,616,000 after acquiring an additional 400,565 shares during the last quarter. Capital International Investors grew its holdings in Royal Caribbean Cruises by 1.0% in the first quarter. Capital International Investors now owns 29,596,455 shares of the company’s stock valued at $4,114,203,000 after purchasing an additional 286,868 shares during the period. Finally, Forest Avenue Capital Management LP acquired a new position in Royal Caribbean Cruises during the second quarter worth approximately $35,038,000. 87.53% of the stock is currently owned by institutional investors and hedge funds.

About Royal Caribbean Cruises

Royal Caribbean Cruises Ltd. operates as a cruise company worldwide. The company operates cruises under the Royal Caribbean International, Celebrity Cruises, and Silversea Cruises brands, which comprise a range of itineraries. As of February 21, 2024, it operated 65 ships. Royal Caribbean Cruises Ltd.