Royal Caribbean Cruises (NYSE:RCL) Sets New 12-Month High After Analyst Upgrade

Royal Caribbean Cruises Ltd. (NYSE:RCL)’s share price reached a new 52-week high on Monday after Wells Fargo & Company raised their price target on the stock from $153.00 to $159.00. Wells Fargo & Company currently has an overweight rating on the stock. Royal Caribbean Cruises traded as high as $143.38 and last traded at $139.36, with a volume of 339169 shares changing hands. The stock had previously closed at $140.59.

Several other brokerages have also recently commented on RCL. The Goldman Sachs Group restated a “buy” rating on shares of Royal Caribbean Cruises in a report on Monday, April 1st. Mizuho increased their target price on shares of Royal Caribbean Cruises from $164.00 to $168.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Stifel Nicolaus increased their target price on shares of Royal Caribbean Cruises from $170.00 to $174.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Macquarie increased their target price on shares of Royal Caribbean Cruises from $145.00 to $160.00 and gave the stock an “outperform” rating in a report on Friday, March 15th. Finally, Barclays increased their target price on shares of Royal Caribbean Cruises from $154.00 to $165.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $138.76.

Insider Buying and Selling at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, CEO Jason T. Liberty sold 50,000 shares of the firm’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $139.63, for a total value of $6,981,500.00. Following the transaction, the chief executive officer now directly owns 153,017 shares of the company’s stock, valued at approximately $21,365,763.71. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, CEO Michael W. Bayley sold 11,753 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $116.01, for a total value of $1,363,465.53. Following the sale, the chief executive officer now directly owns 166,537 shares in the company, valued at approximately $19,319,957.37. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jason T. Liberty sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $139.63, for a total transaction of $6,981,500.00. Following the completion of the sale, the chief executive officer now owns 153,017 shares in the company, valued at $21,365,763.71. The disclosure for this sale can be found here. Insiders own 8.70% of the company’s stock.

Institutional Investors Weigh In On Royal Caribbean Cruises

Several hedge funds have recently added to or reduced their stakes in the business. Asset Management One Co. Ltd. lifted its position in shares of Royal Caribbean Cruises by 2.9% in the 3rd quarter. Asset Management One Co. Ltd. now owns 104,442 shares of the company’s stock worth $9,623,000 after purchasing an additional 2,907 shares during the period. ST Germain D J Co. Inc. increased its stake in shares of Royal Caribbean Cruises by 65.0% in the 3rd quarter. ST Germain D J Co. Inc. now owns 330 shares of the company’s stock valued at $30,000 after acquiring an additional 130 shares in the last quarter. Chevy Chase Trust Holdings LLC increased its stake in shares of Royal Caribbean Cruises by 4.6% in the 3rd quarter. Chevy Chase Trust Holdings LLC now owns 135,474 shares of the company’s stock valued at $12,483,000 after acquiring an additional 5,951 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its stake in shares of Royal Caribbean Cruises by 303.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 89,930 shares of the company’s stock valued at $8,286,000 after acquiring an additional 67,657 shares in the last quarter. Finally, Xponance Inc. increased its stake in shares of Royal Caribbean Cruises by 7.6% in the 3rd quarter. Xponance Inc. now owns 38,478 shares of the company’s stock valued at $3,545,000 after acquiring an additional 2,710 shares in the last quarter. 87.53% of the stock is currently owned by institutional investors and hedge funds.

Royal Caribbean Cruises Stock Down 2.6 %

The firm’s 50 day moving average price is $131.23 and its two-hundred day moving average price is $118.63. The company has a market cap of $35.94 billion, a P/E ratio of 18.00, a price-to-earnings-growth ratio of 0.47 and a beta of 2.52. The company has a debt-to-equity ratio of 3.54, a quick ratio of 0.16 and a current ratio of 0.19.

Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings results on Thursday, April 25th. The company reported $1.77 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.44. The business had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.69 billion. Royal Caribbean Cruises had a net margin of 14.28% and a return on equity of 51.54%. Royal Caribbean Cruises’s quarterly revenue was up 29.2% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.23) EPS. Equities research analysts anticipate that Royal Caribbean Cruises Ltd. will post 10.8 EPS for the current fiscal 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.