Morgan Stanley Cuts Royal Caribbean Cruises (NYSE:RCL) Price Target to $40.00

Royal Caribbean Cruises (NYSE:RCLGet Rating) had its target price cut by Morgan Stanley from $54.00 to $40.00 in a research note published on Friday, Marketbeat Ratings reports. They currently have an underweight rating on the stock.

Several other brokerages have also issued reports on RCL. Barclays began coverage on shares of Royal Caribbean Cruises in a research report on Tuesday, June 28th. They set an overweight rating and a $56.00 target price for the company. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Royal Caribbean Cruises from $50.00 to $48.00 in a research report on Friday. Susquehanna Bancshares assumed coverage on shares of Royal Caribbean Cruises in a research report on Thursday, June 9th. They issued a positive rating and a $70.00 price target for the company. Truist Financial dropped their price target on shares of Royal Caribbean Cruises from $70.00 to $65.00 and set a hold rating for the company in a research report on Thursday, May 19th. Finally, Wells Fargo & Company dropped their price target on shares of Royal Caribbean Cruises from $81.00 to $58.00 in a research report on Friday. Two research analysts have rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, Royal Caribbean Cruises presently has an average rating of Hold and a consensus price target of $67.00.

Royal Caribbean Cruises Stock Performance

Shares of NYSE RCL opened at $35.79 on Friday. The firm has a 50 day moving average of $41.29 and a 200 day moving average of $64.19. The company has a current ratio of 0.30, a quick ratio of 0.28 and a debt-to-equity ratio of 5.22. The firm has a market capitalization of $9.12 billion, a price-to-earnings ratio of -2.04 and a beta of 2.46. Royal Caribbean Cruises has a 12-month low of $31.09 and a 12-month high of $98.27.

Royal Caribbean Cruises (NYSE:RCLGet Rating) last announced its earnings results on Thursday, July 28th. The company reported ($2.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($2.23) by $0.15. The company had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.10 billion. Royal Caribbean Cruises had a negative net margin of 95.46% and a negative return on equity of 87.89%. The firm’s quarterly revenue was up 4190.1% compared to the same quarter last year. During the same period in the previous year, the business posted ($5.06) earnings per share. On average, research analysts anticipate that Royal Caribbean Cruises will post -6.3 earnings per share for the current year.

Hedge Funds Weigh In On Royal Caribbean Cruises

Several hedge funds have recently modified their holdings of the stock. First Command Bank lifted its holdings in shares of Royal Caribbean Cruises by 24.1% in the first quarter. First Command Bank now owns 772 shares of the company’s stock worth $65,000 after buying an additional 150 shares in the last quarter. Quadrant Capital Group LLC raised its stake in Royal Caribbean Cruises by 14.8% during the first quarter. Quadrant Capital Group LLC now owns 1,170 shares of the company’s stock valued at $98,000 after purchasing an additional 151 shares in the last quarter. Benjamin F. Edwards & Company Inc. raised its stake in Royal Caribbean Cruises by 18.0% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,097 shares of the company’s stock valued at $84,000 after purchasing an additional 167 shares in the last quarter. CENTRAL TRUST Co raised its stake in Royal Caribbean Cruises by 16.7% during the fourth quarter. CENTRAL TRUST Co now owns 1,180 shares of the company’s stock valued at $91,000 after purchasing an additional 169 shares in the last quarter. Finally, Samalin Investment Counsel LLC raised its stake in Royal Caribbean Cruises by 4.1% during the fourth quarter. Samalin Investment Counsel LLC now owns 4,605 shares of the company’s stock valued at $354,000 after purchasing an additional 180 shares in the last quarter. Hedge funds and other institutional investors own 73.74% of the company’s stock.

Royal Caribbean Cruises Company Profile

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Royal Caribbean Cruises Ltd. operates as a cruise company worldwide. The company operates cruises under the Royal Caribbean International, Celebrity Cruises, Azamara, and Silversea Cruises brands, which comprise a range of itineraries that call on approximately 1,000 destinations. As of February 25, 2022, it operated 61 ships.

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Analyst Recommendations for Royal Caribbean Cruises (NYSE:RCL)

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