Royal Caribbean Cruises (NYSE:RCL) Price Target Raised to $287.00

Royal Caribbean Cruises (NYSE:RCL) had its target price increased by analysts at Barclays from $245.00 to $287.00 in a note issued to investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. Barclays‘s price objective suggests a potential upside of 17.06% from the stock’s current price.

RCL has been the subject of a number of other reports. Citigroup raised their price objective on shares of Royal Caribbean Cruises from $257.00 to $283.00 and gave the stock a “buy” rating in a report on Wednesday. Macquarie raised their price target on shares of Royal Caribbean Cruises from $189.00 to $250.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. JPMorgan Chase & Co. upped their price objective on Royal Caribbean Cruises from $213.00 to $243.00 and gave the company an “overweight” rating in a research note on Tuesday, October 29th. Sanford C. Bernstein initiated coverage on Royal Caribbean Cruises in a research report on Tuesday, November 26th. They set an “outperform” rating and a $290.00 target price for the company. Finally, Stifel Nicolaus upped their price target on Royal Caribbean Cruises from $250.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $239.75.

Royal Caribbean Cruises Trading Up 0.4 %

Shares of RCL opened at $245.17 on Friday. The stock’s 50-day moving average price is $222.37 and its 200 day moving average price is $182.13. 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 firm has a market capitalization of $65.92 billion, a price-to-earnings ratio of 25.20, a P/E/G ratio of 0.65 and a beta of 2.59. Royal Caribbean Cruises has a 12-month low of $113.10 and a 12-month high of $258.70.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings data 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. The business had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $4.89 billion. Royal Caribbean Cruises had a return on equity of 52.92% and a net margin of 16.21%. Royal Caribbean Cruises’s quarterly revenue was up 17.5% on a year-over-year basis. During the same period in the previous year, the business posted $3.85 earnings per share. As a group, research analysts predict that Royal Caribbean Cruises will post 11.65 earnings per share for the current year.

Insider Buying and Selling at Royal Caribbean Cruises

In other news, Director Arne Alexander Wilhelmsen sold 230,000 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $233.62, for a total transaction of $53,732,600.00. Following the completion of the sale, the director now owns 18,556,860 shares in the company, valued at $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 is available through this link. Also, CAO Henry L. Pujol sold 6,723 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $208.51, for a total value of $1,401,812.73. Following the transaction, the chief accounting officer now directly owns 9,964 shares in the company, valued at $2,077,593.64. This trade represents a 40.29 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 404,332 shares of company stock worth $94,299,521. 7.95% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Plato Investment Management Ltd acquired a new position in Royal Caribbean Cruises in the third quarter valued at approximately $26,000. Unique Wealth Strategies LLC bought a new stake in shares of Royal Caribbean Cruises during the 2nd quarter valued at $27,000. Safe Harbor Fiduciary LLC acquired a new position in shares of Royal Caribbean Cruises in the 3rd quarter valued at $27,000. DiNuzzo Private Wealth Inc. boosted 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 purchasing an additional 121 shares during the last quarter. Finally, LRI Investments LLC acquired a new stake in shares of Royal Caribbean Cruises during the third quarter worth $31,000. 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.