The Goldman Sachs Group Has Lowered Expectations for Royal Caribbean Cruises (NYSE:RCL) Stock Price

Royal Caribbean Cruises (NYSE:RCL) had its price objective dropped by research analysts at The Goldman Sachs Group from $275.00 to $270.00 in a note issued to investors on Friday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. The Goldman Sachs Group’s target price would indicate a potential upside of 13.26% from the stock’s current price.

Other equities analysts also recently issued research reports about the company. Wells Fargo & Company increased their price target on Royal Caribbean Cruises from $180.00 to $232.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Morgan Stanley increased their price target on Royal Caribbean Cruises from $190.00 to $210.00 and gave the stock an “equal weight” rating in a research report on Wednesday, January 8th. Tigress Financial increased 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. Truist Financial raised their target price on Royal Caribbean Cruises from $204.00 to $272.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. Finally, Sanford C. Bernstein initiated coverage on Royal Caribbean Cruises in a research report on Tuesday, November 26th. They issued an “outperform” rating and a $290.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $249.81.

Royal Caribbean Cruises Stock Up 0.9 %

Royal Caribbean Cruises stock opened at $238.40 on Friday. The firm has a market cap of $64.10 billion, a price-to-earnings ratio of 24.50, a price-to-earnings-growth ratio of 0.50 and a beta of 2.59. Royal Caribbean Cruises has a 52 week low of $113.10 and a 52 week high of $258.70. The business’s 50-day moving average price is $237.63 and its 200 day moving average price is $197.71. The company has a quick ratio of 0.16, a current ratio of 0.19 and a debt-to-equity ratio of 2.63.

Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $5.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.05 by $0.15. The company had revenue of $4.89 billion for the quarter, compared to the consensus estimate 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 revenue for the quarter was up 17.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.85 earnings per share. As a group, sell-side analysts anticipate that Royal Caribbean Cruises will post 11.66 earnings per share for the current year.

Insider Buying and Selling at Royal Caribbean Cruises

In related news, Director Arne Alexander Wilhelmsen sold 139,353 shares of the business’s stock in a transaction on 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 owns 18,167,507 shares in the company, valued at approximately $4,321,868,240.23. The trade was a 0.76 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Harri U. Kulovaara sold 3,256 shares of the business’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $234.62, for a total value of $763,922.72. Following the transaction, the executive vice president now directly owns 22,348 shares of the company’s stock, valued at $5,243,287.76. The trade was a 12.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 404,332 shares of company stock worth $94,299,521 over the last quarter. 7.95% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in RCL. Plato Investment Management Ltd acquired a new stake in shares of Royal Caribbean Cruises in the 3rd quarter valued at about $26,000. Safe Harbor Fiduciary LLC acquired a new stake in shares of Royal Caribbean Cruises in the 3rd quarter valued at about $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 valued at $30,000 after purchasing an additional 121 shares during the period. LRI Investments LLC acquired a new stake in shares of Royal Caribbean Cruises in the 3rd quarter valued at about $31,000. Finally, ORG Wealth Partners LLC acquired a new stake in shares of Royal Caribbean Cruises in the 4th quarter valued at about $40,000. 87.53% of the stock is owned by institutional investors and hedge funds.

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.