Royal Caribbean Cruises (NYSE:RCL) Sets New 1-Year High – Here’s Why

Royal Caribbean Cruises Ltd. (NYSE:RCL)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $226.68 and last traded at $225.70, with a volume of 128394 shares changing hands. The stock had previously closed at $210.77.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Citigroup raised their target price on shares of Royal Caribbean Cruises from $253.00 to $257.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Truist Financial lifted their price objective on shares of Royal Caribbean Cruises from $175.00 to $204.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Bank of America lifted their price objective on shares of Royal Caribbean Cruises from $205.00 to $210.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Tigress Financial lifted their price objective on shares of Royal Caribbean Cruises from $155.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, UBS Group lifted their price objective on shares of Royal Caribbean Cruises from $168.00 to $183.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $214.00.

Royal Caribbean Cruises Price Performance

The firm has a market cap of $60.94 billion, a P/E ratio of 23.28, a PEG ratio of 0.54 and a beta of 2.59. The company has a debt-to-equity ratio of 2.63, a current ratio of 0.19 and a quick ratio of 0.16. The company’s 50-day moving average is $182.72 and its two-hundred day moving average is $163.12.

Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $5.20 earnings per share for the quarter, topping analysts’ consensus estimates of $5.05 by $0.15. The company had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $4.89 billion. Royal Caribbean Cruises had a net margin of 16.21% and a return on equity of 52.92%. The firm’s quarterly revenue was up 17.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.85 EPS. Sell-side analysts anticipate that Royal Caribbean Cruises Ltd. will post 11.65 EPS for the current fiscal year.

Insider Activity

In other news, Director Vagn O. Sorensen sold 5,800 shares of the business’s stock in a transaction on 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 transaction, the director now owns 25,837 shares of the company’s stock, valued at approximately $4,095,164.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Royal Caribbean Cruises news, Director Vagn O. Sorensen sold 5,800 shares of Royal Caribbean Cruises stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $158.50, for a total value of $919,300.00. Following the transaction, the director now owns 25,837 shares in the company, valued at $4,095,164.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Henry L. Pujol sold 6,723 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $208.51, for a total transaction of $1,401,812.73. Following the completion of the sale, the chief accounting officer now owns 9,964 shares in the company, valued at approximately $2,077,593.64. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 40,596 shares of company stock worth $8,090,059. Insiders own 7.95% of the company’s stock.

Institutional Investors Weigh In On Royal Caribbean Cruises

Several hedge funds have recently modified their holdings of the company. D1 Capital Partners L.P. boosted its stake in shares of 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 valued at $241,075,000 after purchasing an additional 777,103 shares in the last quarter. International Assets Investment Management LLC boosted its position in Royal Caribbean Cruises by 10,599.0% during 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 during the period. Dimensional Fund Advisors LP boosted its position in 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. Capital International Investors increased its position in Royal Caribbean Cruises by 1.0% in the 1st quarter. Capital International Investors now owns 29,596,455 shares of the company’s stock valued at $4,114,203,000 after acquiring an additional 286,868 shares during the period. Finally, Forest Avenue Capital Management LP acquired a new position in Royal Caribbean Cruises in the 2nd quarter valued at approximately $35,038,000. Institutional investors and hedge funds 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.