Royal Caribbean Cruises (NYSE:RCL) Sets New 12-Month High Following Analyst Upgrade

Royal Caribbean Cruises Ltd. (NYSE:RCL)’s stock price hit a new 52-week high on Monday after Stifel Nicolaus raised their price target on the stock from $250.00 to $310.00. Stifel Nicolaus currently has a buy rating on the stock. Royal Caribbean Cruises traded as high as $260.00 and last traded at $260.00, with a volume of 1156 shares trading hands. The stock had previously closed at $258.09.

RCL has been the subject of a number of other research reports. The Goldman Sachs Group increased their price target on shares of Royal Caribbean Cruises from $220.00 to $245.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Citigroup increased their target price on shares of Royal Caribbean Cruises from $253.00 to $257.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. StockNews.com upgraded shares of Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a research report on Tuesday, November 26th. JPMorgan Chase & Co. upped their price target on Royal Caribbean Cruises from $213.00 to $243.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th. Finally, Sanford C. Bernstein initiated coverage on Royal Caribbean Cruises in a report on Tuesday, November 26th. They set an “outperform” rating and a $290.00 price objective for the company. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Royal Caribbean Cruises presently has a consensus rating of “Moderate Buy” and an average price target of $233.63.

Insider Transactions at Royal Caribbean Cruises

In related news, Director Arne Alexander Wilhelmsen sold 230,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $233.62, for a total value of $53,732,600.00. Following the transaction, the director now owns 18,556,860 shares in the company, valued at approximately $4,335,253,633.20. This trade represents a 1.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Harri U. Kulovaara sold 3,256 shares of the stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $234.62, for a total transaction of $763,922.72. Following the completion of the sale, the executive vice president now directly owns 22,348 shares of the company’s stock, valued at $5,243,287.76. The trade was a 12.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 404,332 shares of company stock worth $94,299,521 in the last ninety days. Insiders own 7.95% of the company’s stock.

Institutional Investors Weigh In On Royal Caribbean Cruises

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. FSM Wealth Advisors LLC boosted its stake in Royal Caribbean Cruises by 3.2% during the 3rd quarter. FSM Wealth Advisors LLC now owns 1,636 shares of the company’s stock valued at $290,000 after acquiring an additional 51 shares during the last quarter. Venturi Wealth Management LLC raised its stake in Royal Caribbean Cruises by 20.9% during the third quarter. Venturi Wealth Management LLC now owns 353 shares of the company’s stock valued at $63,000 after buying an additional 61 shares in the last quarter. Venture Visionary Partners LLC lifted its stake in 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 purchasing an additional 62 shares during the last quarter. Empower Advisory Group LLC boosted its holdings in shares of Royal Caribbean Cruises by 3.7% in the 3rd 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 raised its stake in Royal Caribbean Cruises by 10.3% during the third quarter. Continuum Advisory LLC now owns 705 shares of the company’s stock worth $125,000 after acquiring an additional 66 shares during the period. Hedge funds and other institutional investors own 87.53% of the company’s stock.

Royal Caribbean Cruises Trading Down 4.2 %

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 firm’s 50 day moving average is $216.77 and its two-hundred day moving average is $179.65. The stock has a market cap of $66.45 billion, a price-to-earnings ratio of 25.40, a price-to-earnings-growth ratio of 0.68 and a beta of 2.59.

Royal Caribbean Cruises (NYSE:RCL) last posted its earnings results 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. Royal Caribbean Cruises had a return on equity of 52.92% and a net margin of 16.21%. 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 business posted $3.85 earnings per share. The firm’s quarterly revenue was up 17.5% compared to the same quarter last year. Equities analysts anticipate that Royal Caribbean Cruises Ltd. will post 11.65 EPS for the current 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.