Morgan Stanley Issues Positive Forecast for Royal Caribbean Cruises (NYSE:RCL) Stock Price

Royal Caribbean Cruises (NYSE:RCL) had its target price boosted by equities research analysts at Morgan Stanley from $210.00 to $225.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price target points to a potential downside of 15.14% from the company’s previous close.

Other equities research analysts have also issued research reports about the company. Citigroup raised their price objective on Royal Caribbean Cruises from $283.00 to $304.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Argus lifted their price target on Royal Caribbean Cruises from $280.00 to $305.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. JPMorgan Chase & Co. upped their price target on Royal Caribbean Cruises from $253.00 to $295.00 and gave the company an “overweight” rating in a research report on Friday, January 17th. The Goldman Sachs Group decreased their price target 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. Finally, StockNews.com raised Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a research report on Tuesday, November 26th. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $275.13.

Royal Caribbean Cruises Stock Down 0.6 %

Shares of RCL traded down $1.47 during midday trading on Monday, hitting $265.13. The company had a trading volume of 602,519 shares, compared to its average volume of 2,372,821. The company’s 50-day simple moving average is $240.36 and its 200-day simple moving average is $202.36. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.15 and a current ratio of 0.17. The firm has a market capitalization of $71.29 billion, a P/E ratio of 24.87, a P/E/G ratio of 0.98 and a beta of 2.59. Royal Caribbean Cruises has a 1 year low of $113.10 and a 1 year high of $277.08.

Royal Caribbean Cruises (NYSE:RCL) last released its earnings results on Tuesday, January 28th. The company reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.13. Royal Caribbean Cruises had a return on equity of 48.97% and a net margin of 17.46%. During the same period last year, the company earned $1.25 EPS. As a group, sell-side analysts expect that Royal Caribbean Cruises will post 14.96 EPS for the current year.

Insider Buying and Selling

In related news, EVP Harri U. Kulovaara sold 3,256 shares of the firm’s stock in a transaction 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 approximately $5,243,287.76. This trade represents a 12.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Arne Alexander Wilhelmsen sold 230,000 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $233.62, for a total transaction of $53,732,600.00. Following the completion of the sale, the director now owns 18,556,860 shares of the company’s stock, valued at $4,335,253,633.20. This trade represents 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 90 days. 7.95% of the stock is owned by company insiders.

Institutional Trading of Royal Caribbean Cruises

Institutional investors and hedge funds have recently bought and sold shares of the business. LMG Wealth Partners LLC grew its holdings in shares of Royal Caribbean Cruises by 28.1% during the fourth quarter. LMG Wealth Partners LLC now owns 1,521 shares of the company’s stock worth $351,000 after buying an additional 334 shares in the last quarter. Sterling Financial Planning Inc. acquired a new stake in Royal Caribbean Cruises in the fourth quarter valued at approximately $216,000. Lorne Steinberg Wealth Management Inc. acquired a new stake in Royal Caribbean Cruises in the fourth quarter valued at approximately $231,000. Venturi Wealth Management LLC increased its stake in Royal Caribbean Cruises by 511.0% in the fourth quarter. Venturi Wealth Management LLC now owns 2,157 shares of the company’s stock valued at $498,000 after purchasing an additional 1,804 shares during the last quarter. Finally, Truist Financial Corp increased its stake in Royal Caribbean Cruises by 11.1% in the fourth quarter. Truist Financial Corp now owns 26,235 shares of the company’s stock valued at $6,052,000 after purchasing an additional 2,611 shares during the last quarter. 87.53% of the stock is currently owned by institutional investors and hedge funds.

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.