Royal Caribbean Cruises (NYSE:RCL) Price Target Raised to $145.00

Royal Caribbean Cruises (NYSE:RCL) had its target price increased by Bank of America from $135.00 to $145.00 in a research note issued to investors on Thursday morning, Benzinga reports. They currently have a neutral rating on the stock.

A number of other brokerages also recently weighed in on RCL. The Goldman Sachs Group restated a buy rating on shares of Royal Caribbean Cruises in a research note on Monday, April 1st. Stifel Nicolaus boosted their price objective on Royal Caribbean Cruises from $170.00 to $174.00 and gave the company a buy rating in a research note on Thursday, February 22nd. Barclays lifted their target price on Royal Caribbean Cruises from $154.00 to $165.00 and gave the company an overweight rating in a report on Friday, April 26th. Susquehanna increased their target price on shares of Royal Caribbean Cruises from $150.00 to $160.00 and gave the stock a positive rating in a research note on Friday, April 26th. Finally, Wells Fargo & Company lifted their price objective on Royal Caribbean Cruises from $153.00 to $159.00 and gave the company an overweight rating in a research note on Friday, April 26th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Royal Caribbean Cruises currently has an average rating of Moderate Buy and a consensus target price of $141.71.

Royal Caribbean Cruises Stock Performance

Shares of RCL stock opened at $138.21 on Thursday. The business’s 50-day moving average price is $132.31 and its 200-day moving average price is $119.25. The company has a current ratio of 0.19, a quick ratio of 0.16 and a debt-to-equity ratio of 3.54. Royal Caribbean Cruises has a 12 month low of $70.58 and a 12 month high of $143.62. The firm has a market capitalization of $35.57 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 0.45 and a beta of 2.49.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings results on Thursday, April 25th. The company reported $1.77 EPS for the quarter, beating 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 firm had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.69 billion. During the same quarter in the previous year, the company posted ($0.23) EPS. The business’s revenue was up 29.2% on a year-over-year basis. Equities research analysts forecast that Royal Caribbean Cruises will post 11.15 EPS for the current year.

Insider Buying and Selling at Royal Caribbean Cruises

In other news, CEO Jason T. Liberty sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $139.63, for a total transaction of $6,981,500.00. Following the transaction, the chief executive officer now directly owns 153,017 shares of the company’s stock, valued at $21,365,763.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Michael W. Bayley sold 11,753 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $116.01, for a total value of $1,363,465.53. Following the completion of the transaction, the chief executive officer now directly owns 166,537 shares of the company’s stock, valued at $19,319,957.37. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jason T. Liberty sold 50,000 shares of Royal Caribbean Cruises stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 153,017 shares in the company, valued at $21,365,763.71. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 71,697 shares of company stock worth $9,749,357. 8.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Royal Caribbean Cruises

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Norges Bank purchased a new position in Royal Caribbean Cruises in the 4th quarter worth approximately $323,251,000. Eagle Asset Management Inc. purchased a new position in shares of Royal Caribbean Cruises in the fourth quarter worth $79,392,000. Vanguard Group Inc. lifted its holdings in shares of Royal Caribbean Cruises by 2.0% during the third quarter. Vanguard Group Inc. now owns 24,917,423 shares of the company’s stock valued at $2,295,891,000 after purchasing an additional 487,327 shares in the last quarter. Vaughan Nelson Investment Management L.P. purchased a new stake in shares of Royal Caribbean Cruises during the first quarter valued at $66,279,000. Finally, Jupiter Asset Management Ltd. increased its holdings in Royal Caribbean Cruises by 476.1% in the 3rd quarter. Jupiter Asset Management Ltd. now owns 470,816 shares of the company’s stock worth $43,381,000 after buying an additional 389,095 shares in the last quarter. Hedge funds and other institutional investors 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.