Royal Caribbean Cruises (NYSE:RCL) Now Covered by Mizuho

Stock analysts at Mizuho started coverage on shares of Royal Caribbean Cruises (NYSE:RCL) in a research note issued on Wednesday, MarketBeat.com reports. The firm set a “buy” rating and a $164.00 price target on the stock. Mizuho’s price target would suggest a potential upside of 28.49% from the company’s previous close.

Several other equities analysts also recently commented on RCL. The Goldman Sachs Group reiterated a “buy” rating on shares of Royal Caribbean Cruises in a report on Monday, April 1st. Morgan Stanley lifted their target price on shares of Royal Caribbean Cruises from $100.00 to $115.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 7th. Macquarie upped their price target on shares of Royal Caribbean Cruises from $145.00 to $160.00 and gave the company an “outperform” rating in a report on Friday, March 15th. UBS Group raised their price target on Royal Caribbean Cruises from $148.00 to $154.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Finally, Argus boosted their price objective on Royal Caribbean Cruises from $95.00 to $142.00 and gave the stock a “buy” rating in a research report on Thursday, December 21st. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Royal Caribbean Cruises presently has a consensus rating of “Moderate Buy” and a consensus target price of $136.94.

Royal Caribbean Cruises Stock Performance

RCL stock opened at $127.64 on Wednesday. The company has a 50-day simple moving average of $127.97 and a 200 day simple moving average of $115.55. The company has a market capitalization of $32.76 billion, a P/E ratio of 20.52, a PEG ratio of 0.46 and a beta of 2.52. The company has a quick ratio of 0.16, a current ratio of 0.19 and a debt-to-equity ratio of 4.03. Royal Caribbean Cruises has a fifty-two week low of $59.37 and a fifty-two week high of $141.70.

Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings results on Thursday, February 1st. The company reported $1.25 EPS for the quarter, topping the consensus estimate of $1.13 by $0.12. Royal Caribbean Cruises had a net margin of 12.22% and a return on equity of 45.55%. The firm had revenue of $3.33 billion for the quarter, compared to analysts’ expectations of $3.36 billion. During the same period in the previous year, the business earned ($1.12) earnings per share. Royal Caribbean Cruises’s revenue for the quarter was up 28.0% compared to the same quarter last year. Sell-side analysts predict that Royal Caribbean Cruises will post 10.01 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Royal Caribbean Cruises news, CEO Michael W. Bayley sold 11,753 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $116.01, for a total transaction of $1,363,465.53. Following the transaction, the chief executive officer now directly owns 166,537 shares in the company, valued at approximately $19,319,957.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 8.70% of the stock is owned by insiders.

Hedge Funds Weigh In On Royal Caribbean Cruises

Hedge funds have recently added to or reduced their stakes in the stock. Dagco Inc. bought a new position in shares of Royal Caribbean Cruises during the 4th quarter worth approximately $25,000. BKM Wealth Management LLC bought a new stake in Royal Caribbean Cruises during the fourth quarter worth $26,000. Scarborough Advisors LLC purchased a new position in Royal Caribbean Cruises in the fourth quarter worth $26,000. ST Germain D J Co. Inc. grew its stake in 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 valued at $30,000 after purchasing an additional 130 shares during the period. Finally, Creekmur Asset Management LLC purchased a new stake in shares of Royal Caribbean Cruises during the 4th quarter valued at $30,000. Institutional investors and hedge funds own 87.53% of the company’s stock.

About Royal Caribbean Cruises

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.