The Goldman Sachs Group Issues Pessimistic Forecast for Royal Caribbean Cruises (NYSE:RCL) Stock Price

Royal Caribbean Cruises (NYSE:RCL) had its price objective cut by analysts at The Goldman Sachs Group from $275.00 to $270.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective points to a potential upside of 16.09% from the stock’s previous close.

A number of other brokerages also recently weighed in on RCL. Bank of America boosted their price target on Royal Caribbean Cruises from $210.00 to $240.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. Mizuho reaffirmed an “outperform” rating and issued a $253.00 price objective (down from $255.00) on shares of Royal Caribbean Cruises in a research note on Thursday. StockNews.com upgraded Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a research report on Tuesday, November 26th. Wells Fargo & Company upped their price target on Royal Caribbean Cruises from $180.00 to $232.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Finally, Truist Financial increased 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. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, Royal Caribbean Cruises presently has a consensus rating of “Moderate Buy” and an average price target of $249.81.

Royal Caribbean Cruises Trading Down 2.3 %

RCL opened at $232.59 on Friday. Royal Caribbean Cruises has a fifty-two week low of $113.10 and a fifty-two week high of $258.70. The company has a debt-to-equity ratio of 2.63, a current ratio of 0.19 and a quick ratio of 0.16. The company has a market cap of $62.54 billion, a price-to-earnings ratio of 23.90, a price-to-earnings-growth ratio of 0.50 and a beta of 2.59. The firm has a 50 day simple moving average of $237.76 and a 200 day simple moving average of $198.49.

Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly 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 company had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $4.89 billion. Royal Caribbean Cruises had a return on equity of 52.92% and a net margin of 16.21%. The company’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same period in the prior year, the company earned $3.85 earnings per share. On average, sell-side analysts anticipate that Royal Caribbean Cruises will post 11.66 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Harri U. Kulovaara sold 3,256 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were 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 owns 22,348 shares in the company, valued at $5,243,287.76. This trade represents a 12.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 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 transaction of $33,150,685.17. Following the sale, the director now directly owns 18,167,507 shares in the company, valued at approximately $4,321,868,240.23. This trade represents a 0.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 404,332 shares of company stock valued at $94,299,521. Corporate insiders own 7.95% of the company’s stock.

Institutional Investors Weigh In On Royal Caribbean Cruises

A number of institutional investors and hedge funds have recently modified their holdings of the company. Public Sector Pension Investment Board increased its stake in Royal Caribbean Cruises by 93.4% in the 2nd quarter. Public Sector Pension Investment Board now owns 8,127 shares of the company’s stock worth $1,296,000 after acquiring an additional 3,925 shares during the last quarter. AXA S.A. increased its stake in Royal Caribbean Cruises by 8.5% in the second quarter. AXA S.A. now owns 185,302 shares of the company’s stock valued at $29,543,000 after acquiring an additional 14,509 shares during the last quarter. APG Asset Management N.V. boosted its holdings in shares of Royal Caribbean Cruises by 4.0% in the 2nd quarter. APG Asset Management N.V. now owns 461,762 shares of the company’s stock worth $68,690,000 after purchasing an additional 17,601 shares in the last quarter. MBB Public Markets I LLC lifted its position in Royal Caribbean Cruises by 423.8% in the 2nd quarter. MBB Public Markets I LLC now owns 17,112 shares of the company’s stock worth $2,728,000 after buying an additional 13,845 shares during the last quarter. Finally, Shellback Capital LP boosted its stake in Royal Caribbean Cruises by 40.7% in the second quarter. Shellback Capital LP now owns 190,000 shares of the company’s stock worth $30,292,000 after buying an additional 55,000 shares in the last quarter. 87.53% of the stock is owned by hedge funds and other institutional investors.

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.