Wells Fargo & Company Forecasts Strong Price Appreciation for Royal Caribbean Cruises (NYSE:RCL) Stock

Royal Caribbean Cruises (NYSE:RCL) had its target price lifted by research analysts at Wells Fargo & Company from $180.00 to $232.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective points to a potential upside of 12.43% from the stock’s current price.

RCL has been the subject of several other research reports. UBS Group raised their price target on shares of Royal Caribbean Cruises from $168.00 to $183.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Truist Financial boosted 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 report on Thursday, September 26th. JPMorgan Chase & Co. lifted their target price on shares of Royal Caribbean Cruises from $213.00 to $243.00 and gave the company an “overweight” rating in a research note on Tuesday. Morgan Stanley lifted their target price on shares of Royal Caribbean Cruises from $140.00 to $154.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 7th. Finally, StockNews.com raised shares of Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a research note on Tuesday, September 24th. One research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $214.00.

Royal Caribbean Cruises Trading Down 1.0 %

Shares of RCL stock opened at $206.35 on Wednesday. The firm has a 50 day moving average price of $180.26 and a two-hundred day moving average price of $161.00. The company has a quick ratio of 0.17, a current ratio of 0.19 and a debt-to-equity ratio of 3.20. The company has a market capitalization of $53.10 billion, a PE ratio of 22.50, a price-to-earnings-growth ratio of 0.58 and a beta of 2.61. Royal Caribbean Cruises has a 12-month low of $83.25 and a 12-month high of $214.12.

Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $5.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.05 by $0.15. The business had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $4.89 billion. Royal Caribbean Cruises had a net margin of 16.32% and a return on equity of 52.49%. The firm’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same period last year, the firm posted $3.85 earnings per share. As a group, analysts predict that Royal Caribbean Cruises will post 11.61 earnings per share for the current year.

Insider Buying and Selling

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

Institutional Trading of Royal Caribbean Cruises

Institutional investors have recently modified their holdings of the company. Allspring Global Investments Holdings LLC grew its stake in shares of Royal Caribbean Cruises by 7.8% in the first quarter. Allspring Global Investments Holdings LLC now owns 260,893 shares of the company’s stock worth $36,267,000 after purchasing an additional 18,780 shares in the last quarter. State of Alaska Department of Revenue raised its stake in shares of Royal Caribbean Cruises by 0.5% in the 1st quarter. State of Alaska Department of Revenue now owns 25,595 shares of the company’s stock valued at $3,557,000 after acquiring an additional 135 shares in the last quarter. Kovack Advisors Inc. raised its stake in shares of Royal Caribbean Cruises by 36.7% in the 1st quarter. Kovack Advisors Inc. now owns 2,606 shares of the company’s stock valued at $362,000 after acquiring an additional 699 shares in the last quarter. First Trust Direct Indexing L.P. raised its stake in shares of Royal Caribbean Cruises by 5.2% in the 1st quarter. First Trust Direct Indexing L.P. now owns 7,672 shares of the company’s stock valued at $1,066,000 after acquiring an additional 379 shares in the last quarter. Finally, New Century Financial Group LLC grew its holdings in Royal Caribbean Cruises by 10.3% in the 1st quarter. New Century Financial Group LLC now owns 2,490 shares of the company’s stock valued at $346,000 after buying an additional 232 shares during 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.