Argus Raises Royal Caribbean Cruises (NYSE:RCL) Price Target to $305.00

Royal Caribbean Cruises (NYSE:RCL) had its price target increased by equities researchers at Argus from $280.00 to $305.00 in a report released on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Argus’ price target indicates a potential upside of 10.93% from the stock’s previous close.

Several other research analysts also recently commented on RCL. Tigress Financial raised 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. Stifel Nicolaus lifted their price objective on Royal Caribbean Cruises from $250.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, December 6th. Mizuho restated an “outperform” rating and issued a $253.00 target price (down from $255.00) on shares of Royal Caribbean Cruises in a research note on Thursday, January 23rd. Citigroup lifted their price target on Royal Caribbean Cruises from $283.00 to $304.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. upped their price objective on shares of Royal Caribbean Cruises from $253.00 to $295.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Royal Caribbean Cruises currently has an average rating of “Moderate Buy” and a consensus price target of $274.19.

Royal Caribbean Cruises Stock Up 2.2 %

Royal Caribbean Cruises stock opened at $274.94 on Wednesday. The firm has a 50 day simple moving average of $239.12 and a 200 day simple moving average of $200.69. 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 1-year low of $113.10 and a 1-year high of $275.05. The firm has a market capitalization of $73.93 billion, a price-to-earnings ratio of 28.26, a P/E/G ratio of 0.50 and a beta of 2.59.

Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings results on Tuesday, January 28th. The company reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.13. Royal Caribbean Cruises had a return on equity of 52.92% and a net margin of 16.21%. During the same period in the previous year, the firm earned $1.25 earnings per share. On average, analysts predict that Royal Caribbean Cruises will post 11.66 earnings per share for the current year.

Insider Activity at Royal Caribbean Cruises

In related news, Director Arne Alexander Wilhelmsen sold 139,353 shares of the company’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $237.89, for a total value of $33,150,685.17. Following the sale, the director now directly owns 18,167,507 shares of the company’s stock, valued at $4,321,868,240.23. This represents a 0.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Harri U. Kulovaara sold 3,256 shares of the firm’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $234.62, for a total value of $763,922.72. Following the transaction, the executive vice president now directly owns 22,348 shares of the company’s stock, valued at $5,243,287.76. This represents a 12.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 372,609 shares of company stock worth $87,647,208 over the last quarter. Corporate insiders own 7.95% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Park Avenue Securities LLC increased its stake in shares of Royal Caribbean Cruises by 20.1% during the fourth quarter. Park Avenue Securities LLC now owns 6,630 shares of the company’s stock valued at $1,530,000 after purchasing an additional 1,111 shares in the last quarter. Sanctuary Advisors LLC grew its stake in shares of Royal Caribbean Cruises by 76.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 28,991 shares of the company’s stock worth $5,142,000 after buying an additional 12,530 shares during the last quarter. Wedge Capital Management L L P NC increased its position in Royal Caribbean Cruises by 2.6% during the 3rd quarter. Wedge Capital Management L L P NC now owns 289,518 shares of the company’s stock valued at $51,349,000 after buying an additional 7,298 shares in the last quarter. Souders Financial Advisors purchased a new position in Royal Caribbean Cruises during the third quarter valued at $800,000. Finally, Merit Financial Group LLC boosted its holdings in Royal Caribbean Cruises by 541.0% in the fourth quarter. Merit Financial Group LLC now owns 9,897 shares of the company’s stock worth $2,283,000 after acquiring an additional 8,353 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.