Royal Caribbean Cruises (NYSE:RCL) Given New $311.00 Price Target at UBS Group

Royal Caribbean Cruises (NYSE:RCL) had its target price increased by equities research analysts at UBS Group from $301.00 to $311.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. UBS Group’s target price points to a potential upside of 22.45% from the company’s previous close.

A number of other equities analysts have also recently commented on the company. Argus increased their target price on Royal Caribbean Cruises from $280.00 to $305.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Macquarie cut their price target on Royal Caribbean Cruises from $300.00 to $265.00 and set an “outperform” rating for the company in a report on Friday, May 9th. Mizuho reaffirmed an “outperform” rating and issued a $253.00 price target (down previously from $255.00) on shares of Royal Caribbean Cruises in a report on Thursday, January 23rd. Susquehanna cut their price target on Royal Caribbean Cruises from $295.00 to $275.00 and set a “positive” rating for the company in a report on Wednesday, April 30th. Finally, Loop Capital raised Royal Caribbean Cruises from a “hold” rating to a “buy” rating and set a $250.00 price target for the company in a report on Wednesday, March 5th. Four analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $271.95.

Royal Caribbean Cruises Stock Performance

Shares of RCL stock opened at $253.99 on Tuesday. The company has a market capitalization of $68.97 billion, a P/E ratio of 23.76, a P/E/G ratio of 0.90 and a beta of 2.12. The business’s 50 day moving average is $212.98 and its two-hundred day moving average is $230.42. The company has a current ratio of 0.17, a quick ratio of 0.15 and a debt-to-equity ratio of 2.39. Royal Caribbean Cruises has a 12-month low of $130.08 and a 12-month high of $277.08.

Royal Caribbean Cruises (NYSE:RCL) last announced its earnings results on Tuesday, April 29th. The company reported $2.71 EPS for the quarter, beating analysts’ consensus estimates of $2.53 by $0.18. Royal Caribbean Cruises had a return on equity of 48.97% and a net margin of 17.46%. The business had revenue of $4 billion during the quarter, compared to analysts’ expectations of $4.02 billion. During the same quarter in the prior year, the firm earned $1.77 earnings per share. The business’s revenue was up 7.3% compared to the same quarter last year. Analysts expect 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 permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to purchase up to 1.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. SageView Advisory Group LLC purchased a new position in Royal Caribbean Cruises in the first quarter valued at $406,000. Advisory Alpha LLC boosted its holdings in Royal Caribbean Cruises by 5.0% in the first quarter. Advisory Alpha LLC now owns 1,824 shares of the company’s stock valued at $375,000 after purchasing an additional 87 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Royal Caribbean Cruises by 4.7% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,332,682 shares of the company’s stock valued at $273,786,000 after purchasing an additional 59,743 shares during the period. Woodline Partners LP boosted its holdings in Royal Caribbean Cruises by 40.8% in the first quarter. Woodline Partners LP now owns 20,918 shares of the company’s stock valued at $4,297,000 after purchasing an additional 6,063 shares during the period. Finally, Empowered Funds LLC boosted its holdings in Royal Caribbean Cruises by 7.0% in the first quarter. Empowered Funds LLC now owns 32,334 shares of the company’s stock valued at $6,643,000 after purchasing an additional 2,129 shares during the period. 87.53% of the stock is currently owned by hedge funds and other 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.