Royal Caribbean Cruises (NYSE:RCL) Given New $220.00 Price Target at Morgan Stanley

Royal Caribbean Cruises (NYSE:RCL) had its price target dropped by equities researchers at Morgan Stanley from $270.00 to $220.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s target price indicates a potential upside of 14.60% from the stock’s current price.

A number of other equities analysts have also weighed in on the stock. Macquarie boosted their price target 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. Jefferies Financial Group assumed coverage on Royal Caribbean Cruises in a research report on Monday, March 31st. They issued a “hold” rating and a $230.00 price target for the company. Citigroup lifted their price objective on Royal Caribbean Cruises from $283.00 to $304.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Barclays upped their target price on Royal Caribbean Cruises from $287.00 to $308.00 and gave the company an “overweight” rating in a report on Wednesday, January 29th. Finally, Susquehanna reiterated a “positive” rating on shares of Royal Caribbean Cruises in a report on Tuesday, March 25th. Four equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, Royal Caribbean Cruises presently has a consensus rating of “Moderate Buy” and a consensus price target of $276.95.

Royal Caribbean Cruises Trading Down 0.3 %

RCL stock opened at $191.98 on Thursday. 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 has a 52-week low of $125.06 and a 52-week high of $277.08. The company’s 50-day simple moving average is $224.70 and its 200-day simple moving average is $225.30. The firm has a market cap of $51.67 billion, a P/E ratio of 17.96, a PEG ratio of 0.90 and a beta of 2.26.

Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate 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 earned $1.25 EPS. As a group, equities analysts forecast that Royal Caribbean Cruises will post 14.9 EPS for the current fiscal year.

Royal Caribbean Cruises declared that its board has approved a stock repurchase program on Wednesday, February 12th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 1.5% of its shares through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

Insider Transactions at Royal Caribbean Cruises

In related news, CEO Jason T. Liberty sold 58,000 shares of the stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $261.95, for a total value 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 link. Also, insider Laura H. Bethge sold 14,992 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $261.86, for a total transaction of $3,925,805.12. Following the completion of the sale, the insider now directly owns 21,155 shares in the company, valued at $5,539,648.30. This represents a 41.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 109,492 shares of company stock valued at $28,571,705. Corporate insiders own 7.95% of the company’s stock.

Hedge Funds Weigh In On Royal Caribbean Cruises

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Brown Brothers Harriman & Co. grew its holdings in Royal Caribbean Cruises by 618.8% in the 4th quarter. Brown Brothers Harriman & Co. now owns 115 shares of the company’s stock worth $27,000 after buying an additional 99 shares in the last quarter. Fourth Dimension Wealth LLC bought a new position in shares of Royal Caribbean Cruises in the fourth quarter worth $35,000. Bay Harbor Wealth Management LLC acquired a new position in shares of Royal Caribbean Cruises during the fourth quarter valued at $36,000. Truvestments Capital LLC bought a new stake in shares of Royal Caribbean Cruises during the fourth quarter valued at about $36,000. Finally, Capital A Wealth Management LLC acquired a new stake in Royal Caribbean Cruises in the fourth quarter worth about $40,000. 87.53% of the stock is currently owned by institutional investors and hedge funds.

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.