Royal Caribbean Cruises (NYSE:RCL) Price Target Raised to $210.00

Royal Caribbean Cruises (NYSE:RCL) had its price objective hoisted by Bank of America from $205.00 to $210.00 in a research report released on Wednesday morning, Benzinga reports. Bank of America currently has a neutral rating on the stock.

Several other analysts have also commented on the stock. Barclays lifted their price target on shares of Royal Caribbean Cruises from $195.00 to $244.00 and gave the company an “overweight” rating in a research report on Tuesday, October 22nd. Citigroup upped their target price on shares of Royal Caribbean Cruises from $204.00 to $253.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. StockNews.com upgraded Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a research note on Tuesday, September 24th. Morgan Stanley boosted their price objective on Royal Caribbean Cruises from $140.00 to $154.00 and gave the company an “equal weight” rating in a report on Wednesday, August 7th. Finally, Stifel Nicolaus lifted their target price on Royal Caribbean Cruises from $200.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, October 11th. One research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $214.00.

Royal Caribbean Cruises Stock Down 2.1 %

RCL stock opened at $202.06 on Wednesday. The company has a quick ratio of 0.17, a current ratio of 0.19 and a debt-to-equity ratio of 2.63. Royal Caribbean Cruises has a 52 week low of $86.75 and a 52 week high of $214.12. The stock has a market capitalization of $54.33 billion, a P/E ratio of 20.77, a P/E/G ratio of 0.61 and a beta of 2.61. The firm has a 50-day simple moving average of $181.04 and a 200-day simple moving average of $161.52.

Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $5.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.05 by $0.15. The firm had revenue of $4.89 billion for the quarter, compared to analyst estimates of $4.89 billion. Royal Caribbean Cruises had a return on equity of 52.92% and a net margin of 16.21%. The business’s revenue was up 17.5% on a year-over-year basis. During the same period in the previous year, the company posted $3.85 earnings per share. Equities analysts forecast that Royal Caribbean Cruises will post 11.6 earnings per share for the current fiscal year.

Insider Activity at Royal Caribbean Cruises

In other news, Director Richard D. Fain sold 25,000 shares of Royal Caribbean Cruises stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $210.02, for a total transaction of $5,250,500.00. Following the sale, the director now owns 204,521 shares in the company, valued at approximately $42,953,500.42. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CAO Henry L. Pujol sold 6,723 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $208.51, for a total transaction of $1,401,812.73. Following the transaction, the chief accounting officer now owns 9,964 shares of the company’s stock, valued at $2,077,593.64. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Richard D. Fain sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $210.02, for a total value of $5,250,500.00. Following the sale, the director now owns 204,521 shares of the company’s stock, valued at $42,953,500.42. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 40,596 shares of company stock valued at $8,090,059 in the last ninety days. Insiders own 7.95% of the company’s stock.

Hedge Funds Weigh In On Royal Caribbean Cruises

Large investors have recently bought and sold shares of the company. D1 Capital Partners L.P. boosted its stake in shares of Royal Caribbean Cruises by 105.7% in the second quarter. D1 Capital Partners L.P. now owns 1,512,103 shares of the company’s stock valued at $241,075,000 after buying an additional 777,103 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in Royal Caribbean Cruises by 10,599.0% in the third quarter. International Assets Investment Management LLC now owns 409,879 shares of the company’s stock valued at $72,696,000 after acquiring an additional 406,048 shares during the period. Dimensional Fund Advisors LP boosted 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 purchasing an additional 400,565 shares in the last quarter. Capital International Investors grew its stake in shares of Royal Caribbean Cruises by 1.0% during the 1st quarter. Capital International Investors now owns 29,596,455 shares of the company’s stock worth $4,114,203,000 after purchasing an additional 286,868 shares during the period. Finally, Forest Avenue Capital Management LP purchased a new position in shares of Royal Caribbean Cruises in the 2nd quarter valued at about $35,038,000. Hedge funds and other institutional investors own 87.53% of the company’s stock.

Royal Caribbean Cruises Company Profile

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.