Wells Fargo & Company Raises Royal Caribbean Cruises (NYSE:RCL) Price Target to $165.00

Royal Caribbean Cruises (NYSE:RCLFree Report) had its price objective upped by Wells Fargo & Company from $159.00 to $165.00 in a research note issued to investors on Friday morning, Benzinga reports. The firm currently has an overweight rating on the stock.

Several other brokerages have also issued reports on RCL. UBS Group upped their target price on shares of Royal Caribbean Cruises from $154.00 to $168.00 and gave the stock a buy rating in a research report on Tuesday, May 14th. The Goldman Sachs Group reiterated a buy rating on shares of Royal Caribbean Cruises in a research report on Monday, April 1st. Susquehanna boosted their target price on Royal Caribbean Cruises from $150.00 to $160.00 and gave the stock a positive rating in a research report on Friday, April 26th. Barclays increased their price target on shares of Royal Caribbean Cruises from $154.00 to $165.00 and gave the company an overweight rating in a research report on Friday, April 26th. Finally, Stifel Nicolaus boosted their price objective on shares of Royal Caribbean Cruises from $170.00 to $174.00 and gave the stock a buy rating in a report on Thursday, February 22nd. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $147.38.

Check Out Our Latest Stock Analysis on RCL

Royal Caribbean Cruises Trading Up 4.1 %

Shares of RCL stock opened at $147.70 on Friday. The company has a market capitalization of $38.01 billion, a PE ratio of 19.03, a price-to-earnings-growth ratio of 0.43 and a beta of 2.49. Royal Caribbean Cruises has a 52-week low of $76.31 and a 52-week high of $150.90. The business’s fifty day moving average is $136.18 and its 200 day moving average is $124.28. The company has a debt-to-equity ratio of 3.54, a quick ratio of 0.16 and a current ratio of 0.19.

Royal Caribbean Cruises (NYSE:RCLGet Free Report) last released its quarterly earnings results on Thursday, April 25th. The company reported $1.77 earnings per share for the quarter, beating the consensus estimate 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 analysts’ expectations of $3.69 billion. During the same quarter last year, the firm posted ($0.23) EPS. The company’s revenue was up 29.2% compared to the same quarter last year. On average, equities research analysts anticipate that Royal Caribbean Cruises will post 11.09 EPS for the current fiscal year.

Insider Activity at Royal Caribbean Cruises

In related news, 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 transaction of $6,981,500.00. Following the transaction, the chief executive officer now owns 153,017 shares in the company, valued at $21,365,763.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Michael W. Bayley sold 24,201 shares of the firm’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $140.21, for a total value of $3,393,222.21. Following the completion of the transaction, the chief executive officer now owns 98,850 shares in the company, valued at approximately $13,859,758.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jason T. Liberty sold 50,000 shares of the company’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $139.63, for a total value of $6,981,500.00. Following the completion of 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. Insiders sold a total of 84,145 shares of company stock worth $11,779,113 over the last quarter. 7.95% of the stock is owned by corporate insiders.

Institutional Trading of Royal Caribbean Cruises

Hedge funds have recently modified their holdings of the business. Norges Bank purchased a new position in Royal Caribbean Cruises during the 4th quarter valued at about $323,251,000. Eagle Asset Management Inc. purchased a new position in shares of Royal Caribbean Cruises during the fourth quarter valued at approximately $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 during the last quarter. Vaughan Nelson Investment Management L.P. bought a new stake in shares of Royal Caribbean Cruises in the 1st quarter worth approximately $66,279,000. Finally, Jupiter Asset Management Ltd. grew its stake in shares of 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 during the last quarter. Institutional investors own 87.53% of the company’s stock.

Royal Caribbean Cruises Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Royal Caribbean Cruises (NYSE:RCL)

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