Wells Fargo & Company Raises Royal Caribbean Cruises (NYSE:RCL) Price Target to $232.00

Royal Caribbean Cruises (NYSE:RCL) had its price objective raised by Wells Fargo & Company from $180.00 to $232.00 in a research note issued to investors on Wednesday morning, Benzinga reports. The brokerage currently has an overweight rating on the stock.

A number of other brokerages have also issued reports on RCL. Bank of America boosted their price target on shares of Royal Caribbean Cruises from $205.00 to $210.00 and gave the stock a “neutral” rating in a research note on Wednesday. Citigroup boosted their price target on shares of Royal Caribbean Cruises from $204.00 to $253.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Truist Financial boosted their price target on shares of Royal Caribbean Cruises from $175.00 to $204.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Susquehanna boosted their price target on shares of Royal Caribbean Cruises from $160.00 to $180.00 and gave the stock a “positive” rating in a research note on Tuesday, July 30th. Finally, UBS Group boosted their price target on shares of Royal Caribbean Cruises from $168.00 to $183.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Royal Caribbean Cruises has a consensus rating of “Moderate Buy” and an average price target of $214.00.

Royal Caribbean Cruises Price Performance

Shares of NYSE:RCL opened at $202.06 on Wednesday. The company has a 50-day simple moving average of $181.04 and a 200-day simple moving average of $161.52. Royal Caribbean Cruises has a one year low of $86.75 and a one year high of $214.12. The company has a debt-to-equity ratio of 2.63, a quick ratio of 0.17 and a current ratio of 0.19. The stock has a market capitalization of $54.33 billion, a price-to-earnings ratio of 20.77, a PEG ratio of 0.61 and a beta of 2.61.

Royal Caribbean Cruises (NYSE:RCL) last announced its earnings results on Tuesday, October 29th. The company reported $5.20 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 business had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $4.89 billion. During the same period in the prior year, the company earned $3.85 earnings per share. The business’s revenue was up 17.5% compared to the same quarter last year. On average, analysts predict that Royal Caribbean Cruises will post 11.6 EPS for the current year.

Insider Activity

In other news, Director Vagn O. Sorensen sold 5,800 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $158.50, for a total value of $919,300.00. Following the sale, the director now directly owns 25,837 shares in the company, valued at $4,095,164.50. This represents 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 available through the SEC website. In other news, Director Vagn O. Sorensen sold 5,800 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $158.50, for a total value of $919,300.00. Following the sale, the director now directly owns 25,837 shares in the company, valued at $4,095,164.50. This represents 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 available through the SEC website. Also, insider Laura H. Bethge sold 3,073 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $168.71, for a total transaction of $518,445.83. Following the completion of the sale, the insider now owns 27,388 shares in the company, valued at $4,620,629.48. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 40,596 shares of company stock worth $8,090,059 over the last ninety days. 7.95% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Royal Caribbean Cruises

Several institutional investors and hedge funds have recently modified their holdings of RCL. Lindbrook Capital LLC raised its stake in Royal Caribbean Cruises by 11.8% during the third quarter. Lindbrook Capital LLC now owns 1,206 shares of the company’s stock worth $214,000 after purchasing an additional 127 shares during the period. CWA Asset Management Group LLC purchased a new position in shares of Royal Caribbean Cruises in the 3rd quarter valued at $549,000. Hollencrest Capital Management purchased a new position in shares of Royal Caribbean Cruises in the 3rd quarter valued at $130,000. Capital Performance Advisors LLP acquired a new stake in Royal Caribbean Cruises during the 3rd quarter valued at $61,000. Finally, Hanseatic Management Services Inc. grew its holdings in Royal Caribbean Cruises by 23.4% during the 3rd quarter. Hanseatic Management Services Inc. now owns 491 shares of the company’s stock valued at $87,000 after purchasing an additional 93 shares in the last quarter. Hedge funds and other institutional investors 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.