Royal Caribbean Cruises’ (RCL) “Buy” Rating Reiterated at Citigroup

Royal Caribbean Cruises (NYSE:RCL)‘s stock had its “buy” rating reissued by research analysts at Citigroup in a research report issued on Tuesday, Benzinga reports. They currently have a $127.00 target price on the stock. Citigroup’s price objective would suggest a potential upside of 21.74% from the stock’s previous close.

A number of other research analysts have also weighed in on the company. Morgan Stanley increased their price target on Royal Caribbean Cruises from $95.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Monday, October 30th. Stifel Nicolaus dropped their price target on shares of Royal Caribbean Cruises from $135.00 to $130.00 and set a “buy” rating for the company in a research report on Friday, September 15th. Truist Financial upgraded shares of Royal Caribbean Cruises from a “hold” rating to a “buy” rating and lifted their price target for the company from $115.00 to $137.00 in a report on Tuesday, September 19th. Susquehanna lowered their price objective on shares of Royal Caribbean Cruises from $127.00 to $120.00 and set a “positive” rating for the company in a research note on Tuesday, October 31st. Finally, HSBC began coverage on Royal Caribbean Cruises in a research report on Monday, October 23rd. They issued a “buy” rating and a $115.00 target price on the stock. Four equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $112.14.

Royal Caribbean Cruises Price Performance

RCL traded down $1.49 during midday trading on Tuesday, reaching $104.32. 896,748 shares of the company’s stock were exchanged, compared to its average volume of 3,486,895. Royal Caribbean Cruises has a 1-year low of $47.91 and a 1-year high of $112.95. The stock has a market capitalization of $26.73 billion, a PE ratio of 32.65 and a beta of 2.45. The company has a debt-to-equity ratio of 3.90, a current ratio of 0.19 and a quick ratio of 0.17. The business’s 50-day moving average price is $91.38 and its 200 day moving average price is $93.83.

Royal Caribbean Cruises (NYSE:RCL) last posted its earnings results on Thursday, October 26th. The company reported $3.85 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.43 by $0.42. The firm had revenue of $4.16 billion for the quarter, compared to analyst estimates of $4.08 billion. Royal Caribbean Cruises had a return on equity of 34.59% and a net margin of 6.98%. Royal Caribbean Cruises’s revenue was up 39.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.26 EPS. As a group, equities analysts anticipate that Royal Caribbean Cruises will post 6.59 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Michael W. Bayley sold 7,800 shares of the firm’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $105.00, for a total transaction of $819,000.00. Following the completion of the sale, the chief executive officer now directly owns 94,391 shares of the company’s stock, valued at approximately $9,911,055. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Laura H. Bethge sold 3,502 shares of Royal Caribbean Cruises stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $86.00, for a total value of $301,172.00. Following the completion of the transaction, the insider now owns 22,226 shares in the company, valued at approximately $1,911,436. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Michael W. Bayley sold 7,800 shares of the company’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $105.00, for a total value of $819,000.00. Following the sale, the chief executive officer now directly owns 94,391 shares in the company, valued at $9,911,055. The disclosure for this sale can be found here. Insiders sold a total of 31,302 shares of company stock worth $3,094,672 in the last 90 days. 8.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Royal Caribbean Cruises

A number of hedge funds have recently added to or reduced their stakes in the business. Manchester Capital Management LLC acquired a new stake in Royal Caribbean Cruises in the 1st quarter valued at approximately $25,000. Front Row Advisors LLC lifted its holdings in Royal Caribbean Cruises by 134.3% in the first quarter. Front Row Advisors LLC now owns 410 shares of the company’s stock worth $27,000 after purchasing an additional 235 shares during the period. SOA Wealth Advisors LLC. acquired a new position in Royal Caribbean Cruises during the 2nd quarter valued at about $29,000. Raleigh Capital Management Inc. bought a new stake in shares of Royal Caribbean Cruises during the 2nd quarter worth about $30,000. Finally, ST Germain D J Co. Inc. lifted its stake in shares of Royal Caribbean Cruises by 65.0% in the 3rd quarter. ST Germain D J Co. Inc. now owns 330 shares of the company’s stock worth $30,000 after acquiring an additional 130 shares during the period. 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.