Royal Caribbean Cruises (NYSE:RCL) Price Target Raised to $244.00

Royal Caribbean Cruises (NYSE:RCL) had its price objective boosted by Barclays from $195.00 to $244.00 in a research report report published on Tuesday, Benzinga reports. They currently have an overweight rating on the stock.

Other analysts have also recently issued reports about the stock. Bank of America upped their target price on shares of Royal Caribbean Cruises from $145.00 to $172.00 and gave the company a “neutral” rating in a report on Tuesday, July 23rd. Morgan Stanley raised their target price on Royal Caribbean Cruises from $140.00 to $154.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 7th. Citigroup boosted their price target on Royal Caribbean Cruises from $204.00 to $253.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. raised their price objective on Royal Caribbean Cruises from $210.00 to $213.00 and gave the stock an “overweight” rating in a research note on Monday, September 16th. Finally, UBS Group boosted their price objective on Royal Caribbean Cruises from $168.00 to $183.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $197.27.

Royal Caribbean Cruises Stock Performance

RCL stock opened at $200.93 on Tuesday. The company has a debt-to-equity ratio of 3.20, a current ratio of 0.19 and a quick ratio of 0.17. Royal Caribbean Cruises has a 1 year low of $78.35 and a 1 year high of $204.37. The company has a market cap of $51.71 billion, a P/E ratio of 25.89, a price-to-earnings-growth ratio of 0.58 and a beta of 2.61. The stock’s fifty day moving average price is $175.55 and its 200-day moving average price is $158.46.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings results on Thursday, July 25th. The company reported $3.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.76 by $0.45. Royal Caribbean Cruises had a return on equity of 52.49% and a net margin of 16.32%. The business had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.05 billion. During the same period in the previous year, the company posted $1.82 EPS. The business’s quarterly revenue was up 16.4% compared to the same quarter last year. On average, equities analysts forecast that Royal Caribbean Cruises will post 11.61 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Laura H. Bethge sold 3,073 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $168.71, for a total transaction of $518,445.83. Following the completion of the transaction, the insider now owns 27,388 shares in the company, valued at $4,620,629.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Laura H. Bethge sold 3,073 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $168.71, for a total transaction of $518,445.83. Following the completion of the transaction, the insider now directly owns 27,388 shares of the company’s stock, valued at approximately $4,620,629.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Naftali Holtz acquired 5,350 shares of Royal Caribbean Cruises stock in a transaction on Friday, August 2nd. The stock was purchased at an average cost of $140.00 per share, for a total transaction of $749,000.00. Following the purchase, the chief financial officer now owns 48,256 shares in the company, valued at approximately $6,755,840. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 7.95% of the company’s stock.

Hedge Funds Weigh In On Royal Caribbean Cruises

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Blair William & Co. IL lifted its holdings in shares of Royal Caribbean Cruises by 37.4% in the 1st quarter. Blair William & Co. IL now owns 102,133 shares of the company’s stock valued at $14,197,000 after acquiring an additional 27,819 shares during the last quarter. Wedge Capital Management L L P NC raised its position in Royal Caribbean Cruises by 2.6% during the third quarter. Wedge Capital Management L L P NC now owns 289,518 shares of the company’s stock valued at $51,349,000 after purchasing an additional 7,298 shares during the period. QRG Capital Management Inc. lifted its stake in shares of Royal Caribbean Cruises by 17.2% in the 2nd quarter. QRG Capital Management Inc. now owns 38,613 shares of the company’s stock valued at $6,156,000 after purchasing an additional 5,655 shares during the last quarter. New Wave Wealth Advisors LLC purchased a new position in shares of Royal Caribbean Cruises in the 2nd quarter worth approximately $611,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Royal Caribbean Cruises by 8.0% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 35,575 shares of the company’s stock valued at $6,310,000 after purchasing an additional 2,640 shares during the last quarter. 87.53% of the stock is owned by hedge funds and other institutional investors.

Royal Caribbean Cruises Company Profile

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.