Citigroup Raises Royal Caribbean Cruises (NYSE:RCL) Price Target to $253.00

Royal Caribbean Cruises (NYSE:RCL) had its price target raised by investment analysts at Citigroup from $204.00 to $253.00 in a research note issued to investors on Wednesday, Briefing.com reports. The firm currently has a “buy” rating on the stock. Citigroup’s price objective indicates a potential upside of 34.78% from the stock’s current price.

RCL has been the subject of several other reports. Morgan Stanley boosted their price objective on shares of Royal Caribbean Cruises from $140.00 to $154.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 7th. Mizuho lifted their price objective on Royal Caribbean Cruises from $168.00 to $195.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Bank of America increased their target price on Royal Caribbean Cruises from $145.00 to $172.00 and gave the company a “neutral” rating in a research note on Tuesday, July 23rd. StockNews.com upgraded shares of Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a research note on Tuesday, September 24th. Finally, Tigress Financial increased their price objective on shares of Royal Caribbean Cruises from $155.00 to $210.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Three research 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.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $187.19.

Royal Caribbean Cruises Stock Performance

Shares of NYSE RCL opened at $187.71 on Wednesday. Royal Caribbean Cruises has a 12 month low of $78.35 and a 12 month high of $187.71. The company has a 50-day simple moving average of $164.00 and a 200-day simple moving average of $153.56. The company has a debt-to-equity ratio of 3.20, a current ratio of 0.19 and a quick ratio of 0.17. The company has a market cap of $48.31 billion, a PE ratio of 24.13, a price-to-earnings-growth ratio of 0.50 and a beta of 2.61.

Royal Caribbean Cruises (NYSE:RCL) last released its earnings results on Thursday, July 25th. The company reported $3.21 earnings per share for the quarter, topping the consensus estimate of $2.76 by $0.45. The firm had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.05 billion. Royal Caribbean Cruises had a return on equity of 52.49% and a net margin of 16.32%. The firm’s revenue for the quarter was up 16.4% compared to the same quarter last year. During the same period in the prior year, the business posted $1.82 earnings per share. On average, equities analysts anticipate that Royal Caribbean Cruises will post 11.63 earnings per share for the current year.

Insider Activity

In related news, Director Vagn O. Sorensen sold 5,800 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $158.50, for a total transaction of $919,300.00. Following the completion of the sale, the director now directly owns 25,837 shares in the company, valued at approximately $4,095,164.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Naftali Holtz acquired 5,350 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were purchased at an average price of $140.00 per share, for a total transaction of $749,000.00. Following the completion of the acquisition, the chief financial officer now owns 48,256 shares of the company’s stock, valued at approximately $6,755,840. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Vagn O. Sorensen sold 5,800 shares of Royal Caribbean Cruises stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $158.50, for a total transaction of $919,300.00. Following the completion of the sale, the director now owns 25,837 shares of the company’s stock, valued at $4,095,164.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.95% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Scarborough Advisors LLC bought a new stake in Royal Caribbean Cruises in the fourth quarter worth $26,000. Unique Wealth Strategies LLC acquired a new position in Royal Caribbean Cruises in the 2nd quarter valued at $27,000. Creekmur Asset Management LLC acquired a new position in shares of Royal Caribbean Cruises during the fourth quarter worth approximately $30,000. Versant Capital Management Inc raised its stake in shares of Royal Caribbean Cruises by 905.3% in the 2nd quarter. Versant Capital Management Inc now owns 191 shares of the company’s stock valued at $30,000 after buying an additional 172 shares in the last quarter. Finally, AlphaMark Advisors LLC boosted its position in shares of Royal Caribbean Cruises by 233.3% during the 2nd quarter. AlphaMark Advisors LLC now owns 200 shares of the company’s stock valued at $32,000 after acquiring an additional 140 shares in the last quarter. 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.