JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Royal Caribbean Cruises (NYSE:RCL) Stock

Royal Caribbean Cruises (NYSE:RCL) had its price objective raised by stock analysts at JPMorgan Chase & Co. from $253.00 to $295.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 22.63% from the company’s previous close.

A number of other research firms also recently issued reports on RCL. StockNews.com upgraded shares of Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a report on Tuesday, November 26th. Citigroup boosted their price objective on shares of Royal Caribbean Cruises from $257.00 to $283.00 and gave the company a “buy” rating in a research note on Wednesday, December 11th. Wells Fargo & Company increased their target price on Royal Caribbean Cruises from $180.00 to $232.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group boosted their price target on Royal Caribbean Cruises from $245.00 to $275.00 and gave the company a “buy” rating in a research report on Tuesday, December 10th. Finally, Truist Financial raised their price objective on Royal Caribbean Cruises from $204.00 to $272.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $246.50.

Royal Caribbean Cruises Trading Up 3.1 %

Shares of Royal Caribbean Cruises stock opened at $240.56 on Friday. Royal Caribbean Cruises has a fifty-two week low of $113.10 and a fifty-two week high of $258.70. The firm has a market cap of $64.68 billion, a PE ratio of 24.69, a P/E/G ratio of 0.48 and a beta of 2.59. The business’s fifty day moving average is $236.76 and its two-hundred day moving average is $194.81. The company has a quick ratio of 0.16, a current ratio of 0.19 and a debt-to-equity ratio of 2.63.

Royal Caribbean Cruises (NYSE:RCL) last released its earnings results on Tuesday, October 29th. The company reported $5.20 EPS for the quarter, beating the consensus estimate of $5.05 by $0.15. The firm had revenue of $4.89 billion during 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 quarterly revenue was up 17.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $3.85 earnings per share. Analysts anticipate that Royal Caribbean Cruises will post 11.65 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Richard D. Fain sold 25,000 shares of the firm’s 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 completion of the sale, the director now directly owns 204,521 shares in the company, valued at $42,953,500.42. This trade represents a 10.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Henry L. Pujol sold 6,723 shares of Royal Caribbean Cruises stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $208.51, for a total value of $1,401,812.73. Following the sale, the chief accounting officer now directly owns 9,964 shares in the company, valued at approximately $2,077,593.64. The trade was a 40.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 404,332 shares of company stock valued at $94,299,521 in the last quarter. Company insiders own 7.95% of the company’s stock.

Hedge Funds Weigh In On Royal Caribbean Cruises

Institutional investors and hedge funds have recently made changes to their positions in the business. D1 Capital Partners L.P. raised its holdings in Royal Caribbean Cruises by 3.8% in the third quarter. D1 Capital Partners L.P. now owns 1,570,262 shares of the company’s stock valued at $278,502,000 after acquiring an additional 58,159 shares in the last quarter. Swiss National Bank raised its stake in shares of Royal Caribbean Cruises by 0.5% in the 3rd quarter. Swiss National Bank now owns 725,638 shares of the company’s stock valued at $128,699,000 after purchasing an additional 3,800 shares in the last quarter. Disciplined Growth Investors Inc. MN lifted its position in shares of Royal Caribbean Cruises by 2.3% during the third quarter. Disciplined Growth Investors Inc. MN now owns 591,552 shares of the company’s stock worth $104,918,000 after purchasing an additional 13,520 shares during the last quarter. APG Asset Management N.V. lifted its position in shares of Royal Caribbean Cruises by 4.0% during the second quarter. APG Asset Management N.V. now owns 461,762 shares of the company’s stock worth $68,690,000 after purchasing an additional 17,601 shares during the last quarter. Finally, International Assets Investment Management LLC increased 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 buying an additional 406,048 shares during the last quarter. 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.