Royal Caribbean Cruises (NYSE:RCL) Earns Outperform Rating from Analysts at BNP Paribas

Analysts at BNP Paribas initiated coverage on shares of Royal Caribbean Cruises (NYSE:RCL) in a report released on Thursday, Marketbeat reports. The firm set an “outperform” rating and a $262.00 price target on the stock. BNP Paribas’ target price indicates a potential upside of 26.36% from the company’s previous close.

Several other analysts have also weighed in on the company. Morgan Stanley upped their target price on Royal Caribbean Cruises from $210.00 to $225.00 and gave the company an “equal weight” rating in a report on Monday, February 3rd. Wells Fargo & Company increased their price objective on shares of Royal Caribbean Cruises from $232.00 to $272.00 and gave the company an “overweight” rating in a research note on Monday, January 27th. Macquarie lifted their target price on shares of Royal Caribbean Cruises from $250.00 to $300.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Argus increased their price target on shares of Royal Caribbean Cruises from $280.00 to $305.00 and gave the company a “buy” rating in a research report on Wednesday, January 29th. Finally, JPMorgan Chase & Co. upped their target price on Royal Caribbean Cruises from $253.00 to $295.00 and gave the company an “overweight” rating in a research note on Friday, January 17th. Three equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $282.33.

Royal Caribbean Cruises Stock Down 4.6 %

Shares of NYSE RCL opened at $207.35 on Thursday. The stock has a market capitalization of $55.80 billion, a price-to-earnings ratio of 19.40, a price-to-earnings-growth ratio of 0.90 and a beta of 2.53. Royal Caribbean Cruises has a 52 week low of $125.06 and a 52 week high of $277.08. The firm has a 50-day moving average price of $238.63 and a 200 day moving average price of $223.27. The company has a quick ratio of 0.15, a current ratio of 0.17 and a debt-to-equity ratio of 2.39.

Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly 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 net margin of 17.46% and a return on equity of 48.97%. During the same quarter in the prior year, the business posted $1.25 earnings per share. Equities research analysts anticipate that Royal Caribbean Cruises will post 14.9 EPS for the current fiscal year.

Royal Caribbean Cruises declared that its board has approved a share buyback plan on Wednesday, February 12th that authorizes the company to buyback $1.00 billion in 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 an indication that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Royal Caribbean Cruises

In related news, CEO Jason T. Liberty sold 58,000 shares of the company’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 completion of the transaction, the chief executive officer now owns 143,214 shares of the company’s stock, valued at approximately $37,514,907.30. This represents a 28.83 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Laura H. Bethge sold 14,992 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $261.86, for a total transaction of $3,925,805.12. Following the transaction, the insider now directly owns 21,155 shares in the company, valued at approximately $5,539,648.30. This represents a 41.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 109,492 shares of company stock worth $28,571,705 in the last three months. Company insiders own 7.95% of the company’s stock.

Institutional Investors Weigh In On Royal Caribbean Cruises

A number of institutional investors have recently added to or reduced their stakes in the company. Safe Harbor Fiduciary LLC acquired a new position in shares of Royal Caribbean Cruises in the 3rd quarter valued at about $27,000. Brown Brothers Harriman & Co. lifted its position in Royal Caribbean Cruises by 618.8% during the fourth quarter. Brown Brothers Harriman & Co. now owns 115 shares of the company’s stock valued at $27,000 after buying an additional 99 shares in the last quarter. LRI Investments LLC acquired a new stake in shares of Royal Caribbean Cruises in the third quarter worth $31,000. Fourth Dimension Wealth LLC acquired a new stake in shares of Royal Caribbean Cruises in the fourth quarter worth $35,000. Finally, Bay Harbor Wealth Management LLC purchased a new position in shares of Royal Caribbean Cruises in the 4th quarter valued at $36,000. 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.