Royal Caribbean Cruises (NYSE:RCL) Sets New 12-Month High After Analyst Upgrade

Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) hit a new 52-week high during mid-day trading on Monday after Wells Fargo & Company raised their price target on the stock from $153.00 to $159.00. Wells Fargo & Company currently has an overweight rating on the stock. Royal Caribbean Cruises traded as high as $143.38 and last traded at $139.36, with a volume of 339169 shares. The stock had previously closed at $140.59.

A number of other equities research analysts have also weighed in on the company. Barclays lifted their target price on Royal Caribbean Cruises from $154.00 to $165.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Mizuho lifted their target price on Royal Caribbean Cruises from $164.00 to $168.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Morgan Stanley lifted their target price on Royal Caribbean Cruises from $100.00 to $115.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 7th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Royal Caribbean Cruises in a research report on Monday, April 1st. Finally, UBS Group lifted their target price 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. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $138.76.

Insider Buying and Selling

In other Royal Caribbean Cruises news, CEO Michael W. Bayley sold 11,753 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now owns 166,537 shares in the company, valued at approximately $19,319,957.37. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Royal Caribbean Cruises news, CEO Michael W. Bayley sold 11,753 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer now owns 166,537 shares in the company, valued at approximately $19,319,957.37. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Jason T. Liberty sold 50,000 shares of the business’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $139.63, for a total value of $6,981,500.00. Following the completion of the transaction, the chief executive officer now directly owns 153,017 shares of the company’s stock, valued at approximately $21,365,763.71. The disclosure for this sale can be found here. 8.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Royal Caribbean Cruises

Several institutional investors and hedge funds have recently modified their holdings of RCL. BKM Wealth Management LLC acquired a new position in shares of Royal Caribbean Cruises in the 4th quarter valued at about $26,000. Scarborough Advisors LLC acquired a new position in Royal Caribbean Cruises in the 4th quarter worth about $26,000. ST Germain D J Co. Inc. raised its holdings 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 worth $30,000 after purchasing an additional 130 shares during the period. Creekmur Asset Management LLC acquired a new position in Royal Caribbean Cruises in the 4th quarter worth about $30,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new position in Royal Caribbean Cruises in the 4th quarter worth about $33,000. Institutional investors and hedge funds own 87.53% of the company’s stock.

Royal Caribbean Cruises Stock Down 2.6 %

The company has a market cap of $35.94 billion, a price-to-earnings ratio of 18.00, a PEG ratio of 0.47 and a beta of 2.52. The company has a current ratio of 0.19, a quick ratio of 0.16 and a debt-to-equity ratio of 3.54. The business has a fifty day moving average of $131.23 and a two-hundred day moving average of $118.63.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings results on Thursday, April 25th. The company reported $1.77 earnings per share for the quarter, topping analysts’ consensus estimates of $1.33 by $0.44. Royal Caribbean Cruises had a return on equity of 51.54% and a net margin of 14.28%. The company had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.69 billion. During the same quarter in the prior year, the firm posted ($0.23) EPS. Royal Caribbean Cruises’s quarterly revenue was up 29.2% compared to the same quarter last year. As a group, equities analysts anticipate that Royal Caribbean Cruises Ltd. will post 10.8 EPS for the current fiscal year.

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 21, 2024, it operated 65 ships. Royal Caribbean Cruises Ltd.