Royal Caribbean Cruises (NYSE:RCL) Reaches New 52-Week High on Analyst Upgrade

Royal Caribbean Cruises Ltd. (NYSE:RCL)’s share price hit a new 52-week high during mid-day trading on Monday after The Goldman Sachs Group raised their price target on the stock from $245.00 to $275.00. The Goldman Sachs Group currently has a buy rating on the stock. Royal Caribbean Cruises traded as high as $260.00 and last traded at $260.00, with a volume of 1156 shares changing hands. The stock had previously closed at $258.09.

A number of other equities analysts have also commented on RCL. StockNews.com raised Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a report on Tuesday, November 26th. Citigroup raised 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. Bank of America upped their price target on Royal Caribbean Cruises from $210.00 to $240.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Wells Fargo & Company increased their price target on shares of Royal Caribbean Cruises from $180.00 to $232.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Finally, Macquarie boosted their price objective on shares of Royal Caribbean Cruises from $189.00 to $250.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, Royal Caribbean Cruises has an average rating of “Moderate Buy” and a consensus target price of $235.50.

Insider Transactions at Royal Caribbean Cruises

In other news, EVP Harri U. Kulovaara sold 3,256 shares of the business’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $234.62, for a total value of $763,922.72. Following the completion of the sale, the executive vice president now owns 22,348 shares of the company’s stock, valued at approximately $5,243,287.76. The trade was a 12.72 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Arne Alexander Wilhelmsen sold 230,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $233.62, for a total value of $53,732,600.00. Following the transaction, the director now 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 disclosure for this sale can be found here. In the last ninety days, insiders sold 404,332 shares of company stock worth $94,299,521. 7.95% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Royal Caribbean Cruises

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RCL. Plato Investment Management Ltd purchased a new position in shares of Royal Caribbean Cruises in the third quarter valued at about $26,000. Unique Wealth Strategies LLC bought a new position in Royal Caribbean Cruises during the 2nd quarter valued at approximately $27,000. Safe Harbor Fiduciary LLC purchased a new stake in Royal Caribbean Cruises in the 3rd quarter worth approximately $27,000. DiNuzzo Private Wealth Inc. grew its position in shares of 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 buying an additional 121 shares during the last quarter. Finally, LRI Investments LLC purchased a new position in shares of Royal Caribbean Cruises during the third quarter valued at approximately $31,000. 87.53% of the stock is currently owned by institutional investors.

Royal Caribbean Cruises Stock Performance

The company has a market cap of $66.04 billion, a P/E ratio of 25.25, a P/E/G ratio of 0.68 and a beta of 2.59. The business has a fifty day moving average of $216.77 and a 200 day moving average of $179.65. The company has a quick ratio of 0.16, a current ratio of 0.19 and a debt-to-equity ratio of 2.63.

Royal Caribbean Cruises (NYSE:RCL) last posted its earnings results on Tuesday, October 29th. The company reported $5.20 EPS for the quarter, topping the consensus estimate of $5.05 by $0.15. Royal Caribbean Cruises had a net margin of 16.21% and a return on equity of 52.92%. The firm had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $4.89 billion. During the same period last year, the company posted $3.85 EPS. The company’s quarterly revenue was up 17.5% compared to the same quarter last year. On average, equities analysts predict that Royal Caribbean Cruises Ltd. will post 11.65 EPS for the current year.

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.