Royal Caribbean Cruises (NYSE:RCL) Price Target Lowered to $295.00 at Susquehanna

Royal Caribbean Cruises (NYSE:RCL) had its price objective decreased by analysts at Susquehanna from $305.00 to $295.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “positive” rating on the stock. Susquehanna’s price target would indicate a potential upside of 28.47% from the stock’s previous close.

RCL has been the subject of a number of other research reports. Truist Financial boosted their price target on shares of Royal Caribbean Cruises from $204.00 to $272.00 and gave the stock a “buy” rating in a research note on Monday, December 2nd. Barclays upped their target price on shares of Royal Caribbean Cruises from $287.00 to $308.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 29th. Argus raised 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. Sanford C. Bernstein assumed coverage on Royal Caribbean Cruises in a research report on Tuesday, November 26th. They set an “outperform” rating and a $290.00 price objective on the stock. Finally, Macquarie boosted their target price on Royal Caribbean Cruises from $250.00 to $300.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Three investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $283.53.

Royal Caribbean Cruises Stock Performance

Shares of Royal Caribbean Cruises stock traded up $2.61 during trading hours on Wednesday, reaching $229.63. The company had a trading volume of 623,479 shares, compared to its average volume of 2,505,026. The company has a debt-to-equity ratio of 2.39, a current ratio of 0.17 and a quick ratio of 0.15. Royal Caribbean Cruises has a one year low of $124.24 and a one year high of $277.08. The firm has a market cap of $61.80 billion, a PE ratio of 21.44, a price-to-earnings-growth ratio of 0.90 and a beta of 2.59. The business has a fifty day simple moving average of $244.53 and a 200 day simple moving average of $217.40.

Royal Caribbean Cruises (NYSE:RCL) last issued its earnings results on Tuesday, January 28th. The company reported $1.63 EPS for the quarter, topping the consensus estimate 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 in the prior year, the company posted $1.25 earnings per share. On average, analysts anticipate that Royal Caribbean Cruises will post 14.9 earnings per share for the current fiscal year.

Royal Caribbean Cruises announced that its Board of Directors has authorized a share repurchase plan on Wednesday, February 12th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 1.5% of its shares through open market purchases. Shares buyback plans are often a sign that the company’s management believes its stock is undervalued.

Insider Activity at Royal Caribbean Cruises

In related news, CEO Jason T. Liberty sold 58,000 shares of Royal Caribbean Cruises stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $261.95, for a total transaction of $15,193,100.00. Following the sale, the chief executive officer now directly owns 143,214 shares in the company, valued at $37,514,907.30. The trade was a 28.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Richard D. Fain sold 19,500 shares of the company’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $256.68, for a total value of $5,005,260.00. Following the completion of the sale, the director now directly owns 185,021 shares in the company, valued at approximately $47,491,190.28. The trade was a 9.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 109,492 shares of company stock worth $28,571,705 over the last 90 days. 7.95% of the stock is owned by company insiders.

Hedge Funds Weigh In On Royal Caribbean Cruises

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Venturi Wealth Management LLC lifted its position in Royal Caribbean Cruises by 511.0% during the 4th quarter. Venturi Wealth Management LLC now owns 2,157 shares of the company’s stock valued at $498,000 after acquiring an additional 1,804 shares during the period. Park Avenue Securities LLC lifted its holdings in shares of Royal Caribbean Cruises by 20.1% during the fourth quarter. Park Avenue Securities LLC now owns 6,630 shares of the company’s stock valued at $1,530,000 after purchasing an additional 1,111 shares during the last quarter. Sanctuary Advisors LLC boosted its position in shares of Royal Caribbean Cruises by 76.1% in the 3rd quarter. Sanctuary Advisors LLC now owns 28,991 shares of the company’s stock worth $5,142,000 after purchasing an additional 12,530 shares in the last quarter. Lorne Steinberg Wealth Management Inc. purchased a new stake in shares of Royal Caribbean Cruises in the 4th quarter worth approximately $231,000. Finally, Principal Financial Group Inc. grew its stake in shares of Royal Caribbean Cruises by 2.7% in the 4th quarter. Principal Financial Group Inc. now owns 291,027 shares of the company’s stock worth $67,137,000 after buying an additional 7,740 shares during 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.