Sanford C. Bernstein Initiates Coverage on Royal Caribbean Cruises (NYSE:RCL)

Stock analysts at Sanford C. Bernstein began coverage on shares of Royal Caribbean Cruises (NYSE:RCL) in a research report issued on Tuesday, MarketBeat reports. The firm set an “outperform” rating and a $290.00 price target on the stock. Sanford C. Bernstein’s price objective indicates a potential upside of 20.02% from the stock’s current price.

Several other research firms also recently commented on RCL. Morgan Stanley increased their target price on shares of Royal Caribbean Cruises from $140.00 to $154.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 7th. Tigress Financial raised their price objective on Royal Caribbean Cruises from $210.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. JPMorgan Chase & Co. boosted their target price on Royal Caribbean Cruises from $213.00 to $243.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th. Barclays increased their price target on Royal Caribbean Cruises from $244.00 to $245.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, StockNews.com lowered shares of Royal Caribbean Cruises from a “hold” rating to a “sell” rating in a research report on Monday, November 18th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Royal Caribbean Cruises presently has a consensus rating of “Moderate Buy” and a consensus target price of $224.38.

Royal Caribbean Cruises Stock Down 1.2 %

Shares of Royal Caribbean Cruises stock opened at $241.62 on Tuesday. The firm has a market cap of $64.97 billion, a price-to-earnings ratio of 24.83, a P/E/G ratio of 0.63 and a beta of 2.59. The stock has a 50-day simple moving average of $205.42 and a 200-day simple moving average of $173.61. Royal Caribbean Cruises has a 52-week low of $105.36 and a 52-week high of $245.91. The company has a debt-to-equity ratio of 2.63, a current ratio of 0.19 and a quick ratio of 0.16.

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 net margin of 16.21% and a return on equity of 52.92%. The firm had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $4.89 billion. During the same period in the previous year, the company earned $3.85 earnings per share. The company’s revenue was up 17.5% compared to the same quarter last year. On average, equities research analysts expect that Royal Caribbean Cruises will post 11.64 earnings per share for the current fiscal year.

Insider Activity at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, EVP Harri U. Kulovaara sold 3,256 shares of the business’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 sale, the executive vice president now 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Arne Alexander Wilhelmsen sold 139,353 shares of the stock in a transaction on 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 completion of the transaction, the director now owns 18,167,507 shares of the company’s stock, valued at approximately $4,321,868,240.23. This represents a 0.76 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 404,332 shares of company stock worth $94,299,521. Company insiders own 7.95% of the company’s stock.

Institutional Trading of Royal Caribbean Cruises

Several institutional investors have recently made changes to their positions in RCL. D1 Capital Partners L.P. lifted its stake in Royal Caribbean Cruises by 105.7% during the second quarter. D1 Capital Partners L.P. now owns 1,512,103 shares of the company’s stock worth $241,075,000 after purchasing an additional 777,103 shares during the period. International Assets Investment Management LLC raised its holdings in shares of Royal Caribbean Cruises by 10,599.0% in the 3rd quarter. International Assets Investment Management LLC now owns 409,879 shares of the company’s stock worth $72,696,000 after buying an additional 406,048 shares in the last quarter. Dimensional Fund Advisors LP lifted its position in shares of Royal Caribbean Cruises by 24.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,048,501 shares of the company’s stock worth $326,616,000 after buying an additional 400,565 shares during the period. Forest Avenue Capital Management LP acquired a new stake in Royal Caribbean Cruises in the 2nd quarter valued at $35,038,000. Finally, Teachers Retirement System of The State of Kentucky grew its position in Royal Caribbean Cruises by 809.6% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 173,124 shares of the company’s stock valued at $27,601,000 after acquiring an additional 154,090 shares during the period. 87.53% of the stock is currently owned by institutional investors and hedge funds.

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.