Royal Caribbean Cruises (NYSE:RCL) Reaches New 52-Week High Following Analyst Upgrade

Royal Caribbean Cruises Ltd. (NYSE:RCL)’s share price hit a new 52-week high during trading on Monday after Stifel Nicolaus raised their price target on the stock from $200.00 to $230.00. Stifel Nicolaus currently has a buy rating on the stock. Royal Caribbean Cruises traded as high as $196.44 and last traded at $196.44, with a volume of 5659 shares changing hands. The stock had previously closed at $195.69.

Other equities analysts have also issued research reports about the company. Morgan Stanley raised their price objective on Royal Caribbean Cruises from $140.00 to $154.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 7th. Barclays raised their price objective on Royal Caribbean Cruises from $185.00 to $195.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Mizuho raised their price objective on Royal Caribbean Cruises from $168.00 to $195.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Citigroup lifted their price target on Royal Caribbean Cruises from $204.00 to $253.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, The Goldman Sachs Group lifted their price target on Royal Caribbean Cruises from $170.00 to $195.00 and gave the stock a “buy” rating in a research report on Wednesday, July 17th. 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 has a consensus rating of “Moderate Buy” and a consensus price target of $189.06.

Insider Buying and Selling

In other Royal Caribbean Cruises news, Director Vagn O. Sorensen sold 5,800 shares of the business’s stock in a transaction dated 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 $4,095,164.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Royal Caribbean Cruises news, Director Vagn O. Sorensen sold 5,800 shares of the business’s stock in a transaction dated 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 $4,095,164.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Naftali Holtz purchased 5,350 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were purchased at an average price of $140.00 per share, with a total value of $749,000.00. Following the completion of the purchase, the chief financial officer now owns 48,256 shares in the company, valued at approximately $6,755,840. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 7.95% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Royal Caribbean Cruises

A number of large investors have recently made changes to their positions in RCL. Scarborough Advisors LLC bought a new position in shares of Royal Caribbean Cruises during the 4th quarter valued at approximately $26,000. Unique Wealth Strategies LLC bought a new position in shares of Royal Caribbean Cruises during the 2nd quarter valued at approximately $27,000. Creekmur Asset Management LLC bought a new position in shares of Royal Caribbean Cruises during the 4th quarter valued at approximately $30,000. Versant Capital Management Inc grew its stake in shares of Royal Caribbean Cruises by 905.3% during the 2nd quarter. Versant Capital Management Inc now owns 191 shares of the company’s stock valued at $30,000 after acquiring an additional 172 shares during the period. Finally, AlphaMark Advisors LLC grew its stake 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 during the period. 87.53% of the stock is currently owned by institutional investors.

Royal Caribbean Cruises Trading Up 0.7 %

The stock has a 50 day moving average of $167.91 and a 200-day moving average of $155.16. The company has a market capitalization of $50.69 billion, a P/E ratio of 25.38, a P/E/G ratio of 0.55 and a beta of 2.61. The company has a current ratio of 0.19, a quick ratio of 0.17 and a debt-to-equity ratio of 3.20.

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

Royal Caribbean Cruises Dividend Announcement

The firm also recently declared a — dividend, which was paid on Friday, October 11th. Investors of record on Friday, September 20th were issued a $0.40 dividend. The ex-dividend date was Friday, September 20th. Royal Caribbean Cruises’s dividend payout ratio is presently 20.62%.

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.