Royal Caribbean Cruises (NYSE:RCL) PT Lowered to $130.00

Royal Caribbean Cruises (NYSE:RCL) had its price objective cut by equities research analysts at Stifel Nicolaus from $135.00 to $130.00 in a research note issued to investors on Friday, FlyOnTheWall reports. Stifel Nicolaus’ target price points to a potential upside of 30.30% from the company’s current price.

Several other research analysts have also commented on the stock. Truist Financial lifted their price target on shares of Royal Caribbean Cruises from $72.00 to $115.00 and gave the company a “hold” rating in a report on Tuesday, July 18th. StockNews.com initiated coverage on shares of Royal Caribbean Cruises in a research report on Thursday, August 17th. They issued a “hold” rating on the stock. Argus boosted their price target on shares of Royal Caribbean Cruises from $88.00 to $92.00 in a research report on Wednesday, May 31st. Tigress Financial boosted their price target on shares of Royal Caribbean Cruises from $102.00 to $139.00 in a research report on Tuesday, August 15th. Finally, Wells Fargo & Company boosted their price target on shares of Royal Caribbean Cruises from $109.00 to $127.00 and gave the stock an “overweight” rating in a research report on Friday, July 28th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $110.69.

Royal Caribbean Cruises Stock Performance

Shares of RCL stock opened at $99.77 on Friday. The company’s fifty day simple moving average is $101.34 and its 200-day simple moving average is $84.94. Royal Caribbean Cruises has a 52 week low of $36.92 and a 52 week high of $112.95. The company has a current ratio of 0.20, a quick ratio of 0.18 and a debt-to-equity ratio of 5.28. The company has a market cap of $25.56 billion, a PE ratio of -311.77 and a beta of 2.47.

Royal Caribbean Cruises (NYSE:RCL) last issued its earnings results on Thursday, July 27th. The company reported $1.82 EPS for the quarter, beating analysts’ consensus estimates of $1.58 by $0.24. Royal Caribbean Cruises had a negative net margin of 0.47% and a positive return on equity of 6.76%. The business had revenue of $3.52 billion for the quarter, compared to the consensus estimate of $3.41 billion. During the same quarter last year, the firm posted ($2.08) EPS. The business’s revenue for the quarter was up 61.3% compared to the same quarter last year. As a group, equities research analysts anticipate that Royal Caribbean Cruises will post 6.21 EPS for the current year.

Insider Buying and Selling at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, CAO Henry L. Pujol sold 18,908 shares of the business’s stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $106.74, for a total value of $2,018,239.92. Following the sale, the chief accounting officer now owns 23,521 shares of the company’s stock, valued at approximately $2,510,631.54. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CFO Naftali Holtz sold 5,949 shares of the company’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $110.62, for a total transaction of $658,078.38. Following the transaction, the chief financial officer now owns 30,967 shares in the company, valued at approximately $3,425,569.54. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Henry L. Pujol sold 18,908 shares of the company’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $106.74, for a total transaction of $2,018,239.92. Following the transaction, the chief accounting officer now owns 23,521 shares in the company, valued at $2,510,631.54. The disclosure for this sale can be found here. Insiders have sold 44,857 shares of company stock valued at $4,650,818 in the last 90 days. 8.70% of the stock is currently owned by company insiders.

Institutional Trading of Royal Caribbean Cruises

A number of large investors have recently bought and sold shares of RCL. Prosperity Financial Group Inc. increased its position in shares of Royal Caribbean Cruises by 7.0% during the 2nd quarter. Prosperity Financial Group Inc. now owns 4,113 shares of the company’s stock worth $427,000 after purchasing an additional 270 shares during the last quarter. Covenant Partners LLC acquired a new position in shares of Royal Caribbean Cruises during the 2nd quarter worth approximately $313,000. Osaic Holdings Inc. increased its holdings in shares of Royal Caribbean Cruises by 22.0% during the 2nd quarter. Osaic Holdings Inc. now owns 78,353 shares of the company’s stock worth $8,127,000 after acquiring an additional 14,114 shares during the last quarter. Orion Portfolio Solutions LLC grew its holdings in Royal Caribbean Cruises by 18.3% in the 2nd quarter. Orion Portfolio Solutions LLC now owns 19,876 shares of the company’s stock valued at $2,062,000 after buying an additional 3,080 shares in the last quarter. Finally, Nuveen Asset Management LLC grew its holdings in Royal Caribbean Cruises by 3.9% in the 2nd quarter. Nuveen Asset Management LLC now owns 734,159 shares of the company’s stock valued at $76,162,000 after buying an additional 27,303 shares in the last quarter. 75.64% of the stock is owned by 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 13, 2023, it operated 64 ships. The company was founded in 1968 and is headquartered in Miami, Florida.