Royal Caribbean Cruises (NYSE:RCL) Downgraded to “Sell” Rating by StockNews.com

Royal Caribbean Cruises (NYSE:RCL) was downgraded by equities researchers at StockNews.com from a “hold” rating to a “sell” rating in a note issued to investors on Monday.

RCL has been the topic of a number of other reports. Macquarie lifted their target price on Royal Caribbean Cruises from $189.00 to $250.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group boosted their price objective on Royal Caribbean Cruises from $220.00 to $245.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Morgan Stanley boosted 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. Bank of America upped their price target on Royal Caribbean Cruises from $210.00 to $240.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. Finally, Wells Fargo & Company upped their price target on Royal Caribbean Cruises from $180.00 to $232.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, Royal Caribbean Cruises currently has an average rating of “Moderate Buy” and an average price target of $220.00.

Royal Caribbean Cruises Trading Up 0.1 %

Shares of RCL stock traded up $0.27 during mid-day trading on Monday, hitting $231.76. 1,408,037 shares of the company’s stock were exchanged, compared to its average volume of 2,372,951. Royal Caribbean Cruises has a fifty-two week low of $102.77 and a fifty-two week high of $238.10. The stock has a 50-day simple moving average of $195.09 and a two-hundred day simple moving average of $168.99. The company has a quick ratio of 0.16, a current ratio of 0.19 and a debt-to-equity ratio of 2.63. The stock has a market cap of $62.32 billion, a price-to-earnings ratio of 23.82, a PEG ratio of 0.61 and a beta of 2.59.

Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $5.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.05 by $0.15. Royal Caribbean Cruises had a return on equity of 52.92% and a net margin of 16.21%. The business had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $4.89 billion. During the same quarter last year, the firm earned $3.85 earnings per share. The business’s revenue was up 17.5% on a year-over-year basis. Equities analysts expect that Royal Caribbean Cruises will post 11.64 EPS for the current fiscal year.

Insider Transactions at Royal Caribbean Cruises

In related news, Director Richard D. Fain sold 25,000 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $210.02, for a total transaction of $5,250,500.00. Following the completion of the sale, the director now owns 204,521 shares in the company, valued at $42,953,500.42. This represents a 10.89 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Henry L. Pujol sold 6,723 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief accounting officer now owns 9,964 shares of the company’s stock, valued at $2,077,593.64. This represents a 40.29 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,796 shares of company stock worth $7,170,759. 7.95% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Royal Caribbean Cruises

Hedge funds have recently modified their holdings of the stock. Plato Investment Management Ltd acquired a new position in shares of Royal Caribbean Cruises in the 3rd quarter worth approximately $26,000. Safe Harbor Fiduciary LLC acquired a new position in shares of Royal Caribbean Cruises in the 3rd quarter worth approximately $27,000. DiNuzzo Private Wealth Inc. raised its holdings in shares of Royal Caribbean Cruises by 257.4% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 168 shares of the company’s stock worth $30,000 after buying an additional 121 shares in the last quarter. Unique Wealth Strategies LLC acquired a new position in shares of Royal Caribbean Cruises in the 2nd quarter worth approximately $27,000. Finally, LRI Investments LLC acquired a new position in shares of Royal Caribbean Cruises in the 3rd quarter worth approximately $31,000. 87.53% of the stock is owned by institutional investors and hedge funds.

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.