Royal Caribbean Cruises (NYSE:RCL) Price Target Raised to $310.00

Royal Caribbean Cruises (NYSE:RCL) had its target price upped by Stifel Nicolaus from $250.00 to $310.00 in a research report report published on Friday,Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts have also issued reports on the stock. Sanford C. Bernstein started coverage on shares of Royal Caribbean Cruises in a research report on Tuesday, November 26th. They set an “outperform” rating and a $290.00 target price on the stock. Truist Financial raised their price objective on shares of Royal Caribbean Cruises from $204.00 to $272.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. StockNews.com upgraded shares of Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a research note on Tuesday, November 26th. Bank of America boosted their price target on Royal Caribbean Cruises from $210.00 to $240.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Finally, JPMorgan Chase & Co. increased their price objective on Royal Caribbean Cruises from $213.00 to $243.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 29th. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $233.63.

Royal Caribbean Cruises Stock Up 2.8 %

RCL stock opened at $258.09 on Friday. The stock has a market cap of $69.40 billion, a P/E ratio of 26.53, a PEG ratio of 0.66 and a beta of 2.59. The company has a current ratio of 0.19, a quick ratio of 0.16 and a debt-to-equity ratio of 2.63. Royal Caribbean Cruises has a twelve month low of $113.10 and a twelve month high of $258.21. The company’s 50 day moving average is $215.38 and its two-hundred day moving average is $178.94.

Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $5.20 earnings per share for the quarter, beating analysts’ consensus estimates of $5.05 by $0.15. Royal Caribbean Cruises had a net margin of 16.21% and a return on equity of 52.92%. The firm had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $4.89 billion. During the same period in the previous year, the company earned $3.85 earnings per share. Royal Caribbean Cruises’s quarterly revenue was up 17.5% compared to the same quarter last year. Research analysts expect that Royal Caribbean Cruises will post 11.64 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Royal Caribbean Cruises news, Director Richard D. Fain sold 25,000 shares of the company’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $210.02, for a total value of $5,250,500.00. Following the sale, the director now owns 204,521 shares of the company’s stock, valued at $42,953,500.42. This represents a 10.89 % 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, CAO Henry L. Pujol sold 6,723 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief accounting officer now directly owns 9,964 shares of the company’s stock, valued at approximately $2,077,593.64. This trade represents a 40.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 404,332 shares of company stock worth $94,299,521. 7.95% of the stock is owned by company insiders.

Institutional Investors Weigh In On Royal Caribbean Cruises

A number of large investors have recently bought and sold shares of RCL. Wedge Capital Management L L P NC lifted its position in shares of Royal Caribbean Cruises by 2.6% in the third quarter. Wedge Capital Management L L P NC now owns 289,518 shares of the company’s stock valued at $51,349,000 after acquiring an additional 7,298 shares in the last quarter. QRG Capital Management Inc. boosted its stake in shares of Royal Caribbean Cruises by 17.2% during the 2nd quarter. QRG Capital Management Inc. now owns 38,613 shares of the company’s stock worth $6,156,000 after purchasing an additional 5,655 shares during the last quarter. Souders Financial Advisors purchased a new stake in shares of Royal Caribbean Cruises during the third quarter worth about $800,000. Swiss National Bank raised its position in shares of Royal Caribbean Cruises by 0.5% in the third quarter. Swiss National Bank now owns 725,638 shares of the company’s stock valued at $128,699,000 after buying an additional 3,800 shares during the last quarter. Finally, New Wave Wealth Advisors LLC purchased a new position in shares of Royal Caribbean Cruises during the second quarter valued at approximately $611,000. 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.