Royal Caribbean Cruises (NYSE:RCL) Reaches New 12-Month High After Analyst Upgrade

Royal Caribbean Cruises Ltd. (NYSE:RCL) reached a new 52-week high during mid-day trading on Monday after Truist Financial raised their price target on the stock from $204.00 to $272.00. Truist Financial currently has a buy rating on the stock. Royal Caribbean Cruises traded as high as $249.00 and last traded at $248.14, with a volume of 109522 shares trading hands. The stock had previously closed at $244.06.

Several other analysts also recently issued reports on the stock. Tigress Financial lifted their price target on shares of Royal Caribbean Cruises from $210.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Macquarie lifted their price target on shares of Royal Caribbean Cruises from $189.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Wells Fargo & Company lifted their price objective on shares of Royal Caribbean Cruises from $180.00 to $232.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Sanford C. Bernstein assumed coverage on shares of Royal Caribbean Cruises in a report on Tuesday, November 26th. They set an “outperform” rating and a $290.00 price objective on the stock. Finally, The Goldman Sachs Group lifted their price objective on shares of Royal Caribbean Cruises from $220.00 to $245.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $228.63.

Insider Activity at Royal Caribbean Cruises

In other news, EVP Harri U. Kulovaara sold 3,256 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $234.62, for a total transaction of $763,922.72. Following the sale, the executive vice president now directly owns 22,348 shares in the company, valued at $5,243,287.76. This represents a 12.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Arne Alexander Wilhelmsen sold 139,353 shares of the company’s stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $237.89, for a total value of $33,150,685.17. Following the sale, the director now owns 18,167,507 shares in the company, valued at approximately $4,321,868,240.23. This represents a 0.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 404,332 shares of company stock worth $94,299,521. Company insiders own 7.95% of the company’s stock.

Institutional Investors Weigh In On Royal Caribbean Cruises

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Atria Investments Inc bought a new position in shares of Royal Caribbean Cruises in the first quarter worth approximately $1,190,000. Cetera Investment Advisers increased its position in shares of Royal Caribbean Cruises by 162.4% in the first quarter. Cetera Investment Advisers now owns 48,241 shares of the company’s stock worth $6,706,000 after purchasing an additional 29,854 shares during the last quarter. Cetera Advisors LLC increased its position in shares of Royal Caribbean Cruises by 51.6% in the first quarter. Cetera Advisors LLC now owns 11,629 shares of the company’s stock worth $1,617,000 after purchasing an additional 3,958 shares during the last quarter. EverSource Wealth Advisors LLC increased its position in shares of Royal Caribbean Cruises by 67.1% in the first quarter. EverSource Wealth Advisors LLC now owns 1,158 shares of the company’s stock worth $162,000 after purchasing an additional 465 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its position in shares of Royal Caribbean Cruises by 11.7% in the second quarter. Massmutual Trust Co. FSB ADV now owns 1,146 shares of the company’s stock worth $183,000 after purchasing an additional 120 shares during the last quarter. 87.53% of the stock is currently owned by institutional investors.

Royal Caribbean Cruises Stock Performance

The company has a quick ratio of 0.16, a current ratio of 0.19 and a debt-to-equity ratio of 2.63. The company’s 50-day moving average is $208.22 and its two-hundred day moving average is $175.28. The company has a market capitalization of $66.25 billion, a P/E ratio of 25.32, a PEG ratio of 0.64 and a beta of 2.59.

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

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.