Citigroup Raises Royal Caribbean Cruises (NYSE:RCL) Price Target to $257.00

Royal Caribbean Cruises (NYSE:RCL) had its target price increased by Citigroup from $253.00 to $257.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price target would indicate a potential upside of 24.55% from the company’s current price.

Other research analysts have also recently issued reports about the stock. Susquehanna raised their target price on shares of Royal Caribbean Cruises from $160.00 to $180.00 and gave the stock a “positive” rating in a report on Tuesday, July 30th. Wells Fargo & Company lifted their price objective on shares of Royal Caribbean Cruises from $180.00 to $232.00 and gave the company an “overweight” rating in a research note on Wednesday. StockNews.com raised shares of Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a research note on Tuesday, September 24th. Bank of America lifted their price objective on shares of Royal Caribbean Cruises from $205.00 to $210.00 and gave the company a “neutral” rating in a research note on Wednesday. Finally, Truist Financial lifted their price objective on shares of Royal Caribbean Cruises from $175.00 to $204.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. One research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $214.00.

Royal Caribbean Cruises Stock Down 1.0 %

Shares of RCL opened at $206.35 on Wednesday. Royal Caribbean Cruises has a 12 month low of $83.25 and a 12 month high of $214.12. The firm’s 50 day moving average is $180.26 and its 200-day moving average is $161.00. The stock has a market capitalization of $53.10 billion, a PE ratio of 22.50, a P/E/G ratio of 0.58 and a beta of 2.61. The company has a current ratio of 0.19, a quick ratio of 0.17 and a debt-to-equity ratio of 3.20.

Royal Caribbean Cruises (NYSE:RCL) last announced its earnings results on Tuesday, October 29th. The company reported $5.20 EPS for the quarter, topping the consensus estimate of $5.05 by $0.15. Royal Caribbean Cruises had a net margin of 16.32% and a return on equity of 52.49%. The company had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $4.89 billion. During the same period last year, the firm earned $3.85 earnings per share. The business’s revenue for the quarter was up 17.5% on a year-over-year basis. Equities research analysts forecast that Royal Caribbean Cruises will post 11.61 EPS for the current year.

Insiders Place Their Bets

In other Royal Caribbean Cruises news, insider Laura H. Bethge sold 3,073 shares of the business’s stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $168.71, for a total transaction of $518,445.83. Following the sale, the insider now owns 27,388 shares of the company’s stock, valued at approximately $4,620,629.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Laura H. Bethge sold 3,073 shares of Royal Caribbean Cruises stock in a transaction on Thursday, August 29th. The shares were sold at an average price of $168.71, for a total transaction of $518,445.83. Following the transaction, the insider now owns 27,388 shares in the company, valued at approximately $4,620,629.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Vagn O. Sorensen sold 5,800 shares of Royal Caribbean Cruises stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $158.50, for a total transaction of $919,300.00. Following the transaction, the director now owns 25,837 shares in the company, valued at approximately $4,095,164.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 7.95% of the company’s stock.

Hedge Funds Weigh In On Royal Caribbean Cruises

A number of hedge funds have recently modified their holdings of the business. Blair William & Co. IL boosted its position in shares of Royal Caribbean Cruises by 37.4% during the 1st quarter. Blair William & Co. IL now owns 102,133 shares of the company’s stock worth $14,197,000 after purchasing an additional 27,819 shares in the last quarter. Wedge Capital Management L L P NC increased its stake in shares of Royal Caribbean Cruises by 2.6% during the 3rd quarter. Wedge Capital Management L L P NC now owns 289,518 shares of the company’s stock worth $51,349,000 after purchasing an additional 7,298 shares during the last quarter. QRG Capital Management Inc. boosted its holdings in Royal Caribbean Cruises by 17.2% in the 2nd quarter. QRG Capital Management Inc. now owns 38,613 shares of the company’s stock worth $6,156,000 after buying an additional 5,655 shares during the period. New Wave Wealth Advisors LLC bought a new position in Royal Caribbean Cruises in the 2nd quarter worth approximately $611,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in Royal Caribbean Cruises by 8.0% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 35,575 shares of the company’s stock worth $6,310,000 after buying an additional 2,640 shares during the period. 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.