Royal Caribbean Cruises (NYSE:RCL) Given New $272.00 Price Target at Truist Financial

Royal Caribbean Cruises (NYSE:RCL) had its price objective increased by Truist Financial from $204.00 to $272.00 in a research report sent to investors on Monday morning,Benzinga reports. Truist Financial currently has a buy rating on the stock.

RCL has been the subject of a number of other research reports. Bank of America boosted their target price on shares of Royal Caribbean Cruises from $210.00 to $240.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. Stifel Nicolaus increased their target price on Royal Caribbean Cruises from $200.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Barclays lifted their price target on Royal Caribbean Cruises from $244.00 to $245.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Tigress Financial increased their price target on shares of Royal Caribbean Cruises from $210.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Morgan Stanley upped their price objective on shares of Royal Caribbean Cruises from $140.00 to $154.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 7th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Royal Caribbean Cruises has an average rating of “Moderate Buy” and a consensus target price of $228.63.

Royal Caribbean Cruises Stock Up 1.0 %

Shares of Royal Caribbean Cruises stock opened at $246.41 on Monday. The company has a quick ratio of 0.16, a current ratio of 0.19 and a debt-to-equity ratio of 2.63. Royal Caribbean Cruises has a 12-month low of $110.66 and a 12-month high of $249.52. The firm has a market capitalization of $66.25 billion, a PE ratio of 25.32, a price-to-earnings-growth ratio of 0.64 and a beta of 2.59. The stock’s fifty day moving average is $208.22 and its 200-day moving average is $175.28.

Royal Caribbean Cruises (NYSE:RCL) last announced its earnings results on Tuesday, October 29th. The company reported $5.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.05 by $0.15. The company had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.89 billion. Royal Caribbean Cruises had a net margin of 16.21% and a return on equity of 52.92%. The company’s revenue was up 17.5% on a year-over-year basis. During the same period in the previous year, the business earned $3.85 EPS. Equities analysts anticipate that Royal Caribbean Cruises will post 11.65 earnings per share for the current year.

Insider Activity

In related news, Director Richard D. Fain sold 25,000 shares of Royal Caribbean Cruises stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $210.02, for a total value of $5,250,500.00. Following the completion of the transaction, the director now directly owns 204,521 shares of the company’s stock, valued at $42,953,500.42. The trade was a 10.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CAO Henry L. Pujol sold 6,723 shares of the stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $208.51, for a total transaction of $1,401,812.73. Following the sale, the chief accounting officer now directly owns 9,964 shares in the company, valued at approximately $2,077,593.64. This represents a 40.29 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 404,332 shares of company stock worth $94,299,521. Corporate insiders own 7.95% of the company’s stock.

Hedge Funds Weigh In On Royal Caribbean Cruises

A number of institutional investors have recently modified their holdings of the stock. FSM Wealth Advisors LLC increased its position in Royal Caribbean Cruises by 3.2% in the third quarter. FSM Wealth Advisors LLC now owns 1,636 shares of the company’s stock worth $290,000 after purchasing an additional 51 shares during the period. Venturi Wealth Management LLC raised its stake in shares of Royal Caribbean Cruises by 20.9% during the third quarter. Venturi Wealth Management LLC now owns 353 shares of the company’s stock worth $63,000 after buying an additional 61 shares during the last quarter. Venture Visionary Partners LLC raised its stake in shares of Royal Caribbean Cruises by 4.8% during the third quarter. Venture Visionary Partners LLC now owns 1,366 shares of the company’s stock worth $242,000 after buying an additional 62 shares during the last quarter. Empower Advisory Group LLC lifted its holdings in Royal Caribbean Cruises by 3.7% in the third quarter. Empower Advisory Group LLC now owns 1,755 shares of the company’s stock valued at $311,000 after buying an additional 63 shares during the period. Finally, Continuum Advisory LLC boosted its stake in Royal Caribbean Cruises by 10.3% in the third quarter. Continuum Advisory LLC now owns 705 shares of the company’s stock valued at $125,000 after acquiring an additional 66 shares during the last quarter. 87.53% of the stock is owned by institutional investors.

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.