Jefferies Financial Group Initiates Coverage on Royal Caribbean Cruises (NYSE:RCL)

Analysts at Jefferies Financial Group assumed coverage on shares of Royal Caribbean Cruises (NYSE:RCL) in a research report issued to clients and investors on Monday,Benzinga reports. The firm set a “hold” rating and a $230.00 price target on the stock. Jefferies Financial Group’s price target would suggest a potential upside of 10.92% from the stock’s current price.

A number of other analysts also recently commented on RCL. JPMorgan Chase & Co. boosted their target price on shares of Royal Caribbean Cruises from $253.00 to $295.00 and gave the stock an “overweight” rating in a report on Friday, January 17th. UBS Group lifted their price target on shares of Royal Caribbean Cruises from $271.00 to $301.00 and gave the stock a “buy” rating in a research report on Tuesday, February 4th. Loop Capital upgraded Royal Caribbean Cruises from a “hold” rating to a “buy” rating and set a $250.00 price objective for the company in a research report on Wednesday, March 5th. Macquarie lifted their target price on Royal Caribbean Cruises from $250.00 to $300.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Finally, Tigress Financial boosted their target price on Royal Caribbean Cruises from $270.00 to $330.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Four research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $279.58.

Royal Caribbean Cruises Stock Down 4.6 %

Shares of RCL stock opened at $207.35 on Monday. Royal Caribbean Cruises has a 1 year low of $125.06 and a 1 year high of $277.08. 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 business’s fifty day moving average is $238.63 and its 200-day moving average is $224.15. The stock has a market cap of $55.80 billion, a PE ratio of 19.40, a price-to-earnings-growth ratio of 0.90 and a beta of 2.53.

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, topping 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 quarter last year, the company earned $1.25 EPS. Equities analysts expect 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 initiated a stock buyback program on Wednesday, February 12th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to purchase up to 1.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.

Insider Activity at Royal Caribbean Cruises

In related news, CEO Jason T. Liberty sold 58,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $261.95, for a total transaction of $15,193,100.00. Following the transaction, the chief executive officer now owns 143,214 shares of the company’s stock, valued at approximately $37,514,907.30. This trade represents a 28.83 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Naftali Holtz sold 17,000 shares of Royal Caribbean Cruises stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $261.62, for a total transaction of $4,447,540.00. Following the completion of the sale, the chief financial officer now owns 42,127 shares of the company’s stock, valued at $11,021,265.74. This trade represents a 28.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 109,492 shares of company stock valued at $28,571,705. Insiders own 7.95% of the company’s stock.

Hedge Funds Weigh In On Royal Caribbean Cruises

Several hedge funds have recently bought and sold shares of RCL. Venturi Wealth Management LLC lifted its holdings in Royal Caribbean Cruises by 511.0% in the 4th quarter. Venturi Wealth Management LLC now owns 2,157 shares of the company’s stock worth $498,000 after purchasing an additional 1,804 shares during the last quarter. Park Avenue Securities LLC lifted its stake in shares of Royal Caribbean Cruises by 20.1% in the fourth quarter. Park Avenue Securities LLC now owns 6,630 shares of the company’s stock worth $1,530,000 after buying an additional 1,111 shares during the last quarter. Sanctuary Advisors LLC lifted its stake in shares of Royal Caribbean Cruises by 76.1% in the third quarter. Sanctuary Advisors LLC now owns 28,991 shares of the company’s stock worth $5,142,000 after buying an additional 12,530 shares during the last quarter. Lorne Steinberg Wealth Management Inc. acquired a new position in Royal Caribbean Cruises in the 4th quarter valued at $231,000. Finally, Principal Financial Group Inc. grew its stake in Royal Caribbean Cruises by 2.7% in the 4th quarter. Principal Financial Group Inc. now owns 291,027 shares of the company’s stock valued at $67,137,000 after buying an additional 7,740 shares during the last quarter. 87.53% of the stock is owned by institutional investors and hedge funds.

Royal Caribbean Cruises Company Profile

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.