Royal Caribbean Cruises (NYSE:RCL) Given New $210.00 Price Target at Morgan Stanley

Royal Caribbean Cruises (NYSE:RCL) had its target price boosted by equities researchers at Morgan Stanley from $190.00 to $210.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s target price would indicate a potential downside of 7.49% from the stock’s current price.

A number of other brokerages have also recently weighed in on RCL. The Goldman Sachs Group increased their price target on Royal Caribbean Cruises from $245.00 to $275.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Sanford C. Bernstein initiated coverage on Royal Caribbean Cruises in a research note on Tuesday, November 26th. They issued an “outperform” rating and a $290.00 target price on the stock. Barclays upped their price target on shares of Royal Caribbean Cruises from $245.00 to $287.00 and gave the stock an “overweight” rating in a research report on Friday, December 13th. Stifel Nicolaus lifted their price objective on shares of Royal Caribbean Cruises from $250.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Royal Caribbean Cruises from $213.00 to $243.00 and gave the company an “overweight” rating in a research note on Tuesday, October 29th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $243.25.

Royal Caribbean Cruises Stock Performance

Royal Caribbean Cruises stock opened at $227.00 on Wednesday. The company has a debt-to-equity ratio of 2.63, a current ratio of 0.19 and a quick ratio of 0.16. Royal Caribbean Cruises has a 12 month low of $113.10 and a 12 month high of $258.70. The company has a fifty day moving average price of $235.32 and a two-hundred day moving average price of $192.63. The company has a market cap of $61.03 billion, a PE ratio of 23.33, a P/E/G ratio of 0.65 and a beta of 2.59.

Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $5.20 earnings per share for the quarter, beating analysts’ consensus estimates of $5.05 by $0.15. The business had revenue of $4.89 billion during 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 company’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.85 EPS. Research analysts expect that Royal Caribbean Cruises will post 11.65 earnings per share for the current year.

Insider Activity

In other news, EVP Harri U. Kulovaara sold 3,256 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $234.62, for a total transaction of $763,922.72. Following the completion of the sale, the executive vice president now directly owns 22,348 shares of the company’s stock, valued at $5,243,287.76. This represents a 12.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 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 completion of the transaction, the chief accounting officer now directly owns 9,964 shares in the company, valued at $2,077,593.64. This represents a 40.29 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 404,332 shares of company stock worth $94,299,521. Corporate insiders own 7.95% of the company’s stock.

Hedge Funds Weigh In On Royal Caribbean Cruises

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Plato Investment Management Ltd purchased a new stake in shares of Royal Caribbean Cruises in the third quarter valued at $26,000. Safe Harbor Fiduciary LLC acquired a new position in Royal Caribbean Cruises during the third quarter valued at $27,000. DiNuzzo Private Wealth Inc. lifted its stake in Royal Caribbean Cruises by 257.4% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 168 shares of the company’s stock worth $30,000 after acquiring an additional 121 shares in the last quarter. LRI Investments LLC purchased a new stake in Royal Caribbean Cruises in the 3rd quarter worth about $31,000. Finally, Meeder Asset Management Inc. boosted its position in Royal Caribbean Cruises by 50.3% during the 2nd quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock worth $37,000 after acquiring an additional 78 shares during the period. Institutional investors and hedge funds 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.