Citigroup Issues Positive Forecast for Royal Caribbean Cruises (NYSE:RCL) Stock Price

Royal Caribbean Cruises (NYSE:RCL) had its target price lifted by research analysts at Citigroup from $257.00 to $283.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s price target indicates a potential upside of 15.91% from the stock’s current price.

Several other research analysts have also weighed in on the company. Tigress Financial boosted their price target on Royal Caribbean Cruises from $210.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Sanford C. Bernstein started coverage on Royal Caribbean Cruises in a research report on Tuesday, November 26th. They set an “outperform” rating and a $290.00 price target on the stock. Macquarie boosted their price target on Royal Caribbean Cruises from $189.00 to $250.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. JPMorgan Chase & Co. boosted 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. Finally, The Goldman Sachs Group boosted 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. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $237.13.

Royal Caribbean Cruises Trading Down 0.6 %

NYSE:RCL opened at $244.16 on Wednesday. The business’s 50-day simple moving average is $219.63 and its 200-day simple moving average is $180.79. Royal Caribbean Cruises has a fifty-two week low of $113.10 and a fifty-two week high of $258.70. The stock has a market capitalization of $65.65 billion, a PE ratio of 25.23, a price-to-earnings-growth ratio of 0.68 and a beta of 2.59. 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 (NYSE:RCL) last announced its earnings results on Tuesday, October 29th. The company reported $5.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.05 by $0.15. Royal Caribbean Cruises had a return on equity of 52.92% and a net margin of 16.21%. The business had revenue of $4.89 billion for the quarter, compared to analyst estimates of $4.89 billion. During the same quarter last year, the firm earned $3.85 EPS. Royal Caribbean Cruises’s revenue for the quarter was up 17.5% compared to the same quarter last year. Sell-side analysts expect that Royal Caribbean Cruises will post 11.65 earnings per share for the current fiscal year.

Insider Transactions at Royal Caribbean Cruises

In related news, Director Arne Alexander Wilhelmsen sold 139,353 shares of the firm’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $237.89, for a total value of $33,150,685.17. Following the sale, the director now directly owns 18,167,507 shares of the company’s stock, valued at $4,321,868,240.23. This trade represents a 0.76 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Harri U. Kulovaara sold 3,256 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were 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 directly owns 22,348 shares in the company, valued at $5,243,287.76. This trade represents a 12.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 404,332 shares of company stock valued at $94,299,521. 7.95% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Royal Caribbean Cruises

Hedge funds have recently made changes to their positions in the stock. D1 Capital Partners L.P. increased its holdings in Royal Caribbean Cruises by 105.7% in the second quarter. D1 Capital Partners L.P. now owns 1,512,103 shares of the company’s stock worth $241,075,000 after purchasing an additional 777,103 shares in the last quarter. International Assets Investment Management LLC raised its holdings in Royal Caribbean Cruises by 10,599.0% during the third quarter. International Assets Investment Management LLC now owns 409,879 shares of the company’s stock worth $72,696,000 after buying an additional 406,048 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Royal Caribbean Cruises by 24.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,048,501 shares of the company’s stock valued at $326,616,000 after buying an additional 400,565 shares in the last quarter. Forest Avenue Capital Management LP bought a new position in shares of Royal Caribbean Cruises in the second quarter valued at $35,038,000. Finally, Teachers Retirement System of The State of Kentucky lifted its stake in shares of Royal Caribbean Cruises by 809.6% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 173,124 shares of the company’s stock valued at $27,601,000 after buying an additional 154,090 shares in the last quarter. 87.53% of the stock is currently owned by institutional investors.

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.