Royal Caribbean Cruises (NYSE:RCL) Shares Gap Up to $95.92

Royal Caribbean Cruises Ltd. (NYSE:RCL) gapped up prior to trading on Tuesday . The stock had previously closed at $95.92, but opened at $98.23. Royal Caribbean Cruises shares last traded at $98.16, with a volume of 504,078 shares trading hands.

Analyst Ratings Changes

Several brokerages recently weighed in on RCL. Stifel Nicolaus reduced their price target on shares of Royal Caribbean Cruises from $135.00 to $130.00 and set a “buy” rating on the stock in a research report on Friday. Barclays increased their price target on Royal Caribbean Cruises from $113.00 to $132.00 and gave the stock an “overweight” rating in a report on Friday, July 28th. StockNews.com initiated coverage on Royal Caribbean Cruises in a report on Thursday, August 17th. They set a “hold” rating for the company. JPMorgan Chase & Co. increased their target price on Royal Caribbean Cruises from $100.00 to $103.00 in a research note on Monday, June 12th. Finally, VNET Group reaffirmed a “maintains” rating on shares of Royal Caribbean Cruises in a research note on Monday, June 12th. Four investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $112.38.

Royal Caribbean Cruises Trading Up 2.6 %

The company has a debt-to-equity ratio of 5.28, a quick ratio of 0.18 and a current ratio of 0.20. The stock has a market capitalization of $25.20 billion, a PE ratio of -299.79 and a beta of 2.47. The company has a 50 day moving average of $101.25 and a two-hundred day moving average of $85.32.

Royal Caribbean Cruises (NYSE:RCL) last released its earnings results on Thursday, July 27th. The company reported $1.82 EPS for the quarter, topping analysts’ consensus estimates of $1.58 by $0.24. The company had revenue of $3.52 billion during the quarter, compared to analysts’ expectations of $3.41 billion. Royal Caribbean Cruises had a negative net margin of 0.47% and a positive return on equity of 6.76%. Royal Caribbean Cruises’s revenue for the quarter was up 61.3% on a year-over-year basis. During the same period last year, the business earned ($2.08) EPS. Sell-side analysts predict that Royal Caribbean Cruises Ltd. will post 6.21 EPS for the current year.

Insider Activity

In related news, CAO Henry L. Pujol sold 18,908 shares of the stock in a transaction that occurred 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 transaction, the chief accounting officer now owns 23,521 shares in the company, valued at approximately $2,510,631.54. The sale was disclosed in a filing with the SEC, which is available through this link. In other Royal Caribbean Cruises news, CAO Henry L. Pujol sold 18,908 shares of the company’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 directly owns 23,521 shares of the company’s stock, valued at $2,510,631.54. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Michael W. Bayley sold 10,000 shares of Royal Caribbean Cruises stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $97.43, for a total value of $974,300.00. Following the transaction, the chief executive officer now owns 112,191 shares of the company’s stock, valued at approximately $10,930,769.13. The disclosure for this sale can be found here. Over the last three months, insiders have sold 44,857 shares of company stock valued at $4,650,818. Company insiders own 8.70% of the company’s stock.

Institutional Investors Weigh In On Royal Caribbean Cruises

Hedge funds and other institutional investors have recently made changes to their positions in the company. Capital World Investors purchased a new stake in shares of Royal Caribbean Cruises in the second quarter valued at approximately $272,594,000. Norges Bank acquired a new position in shares of Royal Caribbean Cruises during the 4th quarter worth approximately $100,326,000. Renaissance Technologies LLC grew its position in shares of Royal Caribbean Cruises by 2,470.7% in the fourth quarter. Renaissance Technologies LLC now owns 1,280,200 shares of the company’s stock valued at $63,280,000 after purchasing an additional 1,230,400 shares in the last quarter. Capital International Investors increased its holdings in shares of Royal Caribbean Cruises by 3.6% in the second quarter. Capital International Investors now owns 29,671,559 shares of the company’s stock valued at $3,077,810,000 after purchasing an additional 1,040,190 shares during the last quarter. Finally, Los Angeles Capital Management LLC lifted its position in Royal Caribbean Cruises by 822.3% during the second quarter. Los Angeles Capital Management LLC now owns 621,420 shares of the company’s stock worth $64,466,000 after buying an additional 554,043 shares in the last quarter. Institutional investors and hedge funds own 75.64% of the company’s stock.

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.