Citigroup Raises Royal Caribbean Cruises (NYSE:RCL) Price Target to $304.00

Royal Caribbean Cruises (NYSE:RCL) had its price target hoisted by investment analysts at Citigroup from $283.00 to $304.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s target price points to a potential upside of 10.57% from the stock’s previous close.

A number of other equities research analysts have also recently weighed in on the company. The Goldman Sachs Group dropped their price objective on Royal Caribbean Cruises from $275.00 to $270.00 and set a “buy” rating for the company in a research note on Friday, January 24th. Tigress Financial boosted their price target on shares of Royal Caribbean Cruises from $210.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Barclays raised their price objective on shares of Royal Caribbean Cruises from $245.00 to $287.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. StockNews.com raised shares of Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a research note on Tuesday, November 26th. Finally, JPMorgan Chase & Co. raised their price target on shares of Royal Caribbean Cruises from $253.00 to $295.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $274.19.

Royal Caribbean Cruises Stock Performance

NYSE:RCL opened at $274.94 on Wednesday. Royal Caribbean Cruises has a twelve month low of $113.10 and a twelve month high of $275.05. The company has a market cap of $73.93 billion, a P/E ratio of 28.26, a P/E/G ratio of 0.50 and a beta of 2.59. The company has a current ratio of 0.19, a quick ratio of 0.16 and a debt-to-equity ratio of 2.63. The company’s 50-day moving average price is $239.12 and its 200-day moving average price is $200.69.

Royal Caribbean Cruises (NYSE:RCL) last posted its earnings results on Tuesday, January 28th. The company reported $1.63 earnings per share (EPS) for the quarter, topping 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 quarter in the previous year, the business earned $1.25 earnings per share. On average, sell-side analysts forecast that Royal Caribbean Cruises will post 11.66 earnings per share for the current fiscal year.

Insider Buying and Selling

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 transaction, the executive vice president now directly owns 22,348 shares of the company’s stock, 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 230,000 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $233.62, for a total value of $53,732,600.00. Following the transaction, the director now directly owns 18,556,860 shares of the company’s stock, valued at $4,335,253,633.20. The trade was a 1.22 % 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 in the last quarter. Company insiders own 7.95% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Plato Investment Management Ltd acquired a new stake in shares of Royal Caribbean Cruises during the third quarter worth $26,000. Safe Harbor Fiduciary LLC acquired a new stake in Royal Caribbean Cruises in the 3rd quarter worth about $27,000. DiNuzzo Private Wealth Inc. boosted its stake in Royal Caribbean Cruises by 257.4% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 168 shares of the company’s stock worth $30,000 after buying an additional 121 shares during the last quarter. LRI Investments LLC purchased a new stake in Royal Caribbean Cruises in the 3rd quarter valued at about $31,000. Finally, Bay Harbor Wealth Management LLC acquired a new position in shares of Royal Caribbean Cruises during the 4th quarter valued at about $36,000. 87.53% of the stock is currently 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.