Sanford C. Bernstein Begins Coverage on Royal Caribbean Cruises (NYSE:RCL)

Sanford C. Bernstein assumed coverage on shares of Royal Caribbean Cruises (NYSE:RCL) in a research report released on Tuesday morning, Marketbeat Ratings reports. The brokerage issued an outperform rating and a $290.00 price objective on the stock.

Several other equities research analysts also recently weighed in on RCL. JPMorgan Chase & Co. increased their price target on Royal Caribbean Cruises from $213.00 to $243.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 29th. Citigroup upped their target price on Royal Caribbean Cruises from $253.00 to $257.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Tigress Financial lifted their price target on Royal Caribbean Cruises from $210.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Barclays increased their target price on shares of Royal Caribbean Cruises from $244.00 to $245.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Finally, Morgan Stanley lifted their price target on Royal Caribbean Cruises from $140.00 to $154.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $224.38.

Royal Caribbean Cruises Trading Down 1.2 %

Royal Caribbean Cruises stock opened at $241.62 on Tuesday. Royal Caribbean Cruises has a 52 week low of $105.36 and a 52 week high of $245.91. The stock has a 50-day moving average price of $206.82 and a 200 day moving average price of $174.08. The company has a quick ratio of 0.16, a current ratio of 0.19 and a debt-to-equity ratio of 2.63. The company has a market capitalization of $64.97 billion, a price-to-earnings ratio of 24.83, a price-to-earnings-growth ratio of 0.63 and a beta of 2.59.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings data on Tuesday, October 29th. The company reported $5.20 EPS for the quarter, beating the consensus estimate of $5.05 by $0.15. The business had revenue of $4.89 billion for 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 business’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same period in the prior year, the firm earned $3.85 EPS. Sell-side analysts anticipate that Royal Caribbean Cruises will post 11.64 EPS for the current year.

Insider Buying and Selling

In related news, Director Arne Alexander Wilhelmsen sold 230,000 shares of the business’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $233.62, for a total transaction of $53,732,600.00. Following the transaction, the director now directly owns 18,556,860 shares in the company, valued at approximately $4,335,253,633.20. The trade was a 1.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CAO Henry L. Pujol sold 6,723 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $2,077,593.64. The trade was a 40.29 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 404,332 shares of company stock worth $94,299,521. 7.95% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Royal Caribbean Cruises

A number of institutional investors have recently added to or reduced their stakes in RCL. FSM Wealth Advisors LLC increased its stake in shares of Royal Caribbean Cruises by 3.2% in the 3rd quarter. FSM Wealth Advisors LLC now owns 1,636 shares of the company’s stock worth $290,000 after acquiring an additional 51 shares during the last quarter. Venturi Wealth Management LLC grew its holdings in shares of Royal Caribbean Cruises by 20.9% in the third quarter. Venturi Wealth Management LLC now owns 353 shares of the company’s stock valued at $63,000 after purchasing an additional 61 shares during the period. Venture Visionary Partners LLC increased its position in Royal Caribbean Cruises by 4.8% during the third quarter. Venture Visionary Partners LLC now owns 1,366 shares of the company’s stock worth $242,000 after purchasing an additional 62 shares during the last quarter. Empower Advisory Group LLC raised its stake in Royal Caribbean Cruises by 3.7% during the third quarter. Empower Advisory Group LLC now owns 1,755 shares of the company’s stock worth $311,000 after purchasing an additional 63 shares during the period. Finally, Continuum Advisory LLC raised its stake in Royal Caribbean Cruises by 10.3% during the third quarter. Continuum Advisory LLC now owns 705 shares of the company’s stock worth $125,000 after purchasing an additional 66 shares during the period. Hedge funds and other institutional investors own 87.53% of the company’s stock.

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.