Mizuho Begins Coverage on Royal Caribbean Cruises (NYSE:RCL)

Mizuho began coverage on shares of Royal Caribbean Cruises (NYSE:RCL) in a research report issued on Wednesday, MarketBeat Ratings reports. The firm set a “buy” rating and a $164.00 price target on the stock. Mizuho’s price objective would suggest a potential upside of 28.69% from the stock’s previous close.

RCL has been the subject of a number of other reports. Wells Fargo & Company raised their price target on Royal Caribbean Cruises from $151.00 to $153.00 and gave the stock an “overweight” rating in a report on Monday, February 26th. Susquehanna lifted their price objective on Royal Caribbean Cruises from $120.00 to $150.00 and gave the company a “positive” rating in a research note on Wednesday, January 31st. Tigress Financial lifted their price objective on Royal Caribbean Cruises from $139.00 to $155.00 and gave the company a “buy” rating in a research note on Thursday, December 21st. Barclays lifted their price objective on Royal Caribbean Cruises from $150.00 to $154.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Finally, The Goldman Sachs Group reissued a “buy” rating on shares of Royal Caribbean Cruises in a research note on Monday, April 1st. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $136.94.

Royal Caribbean Cruises Stock Performance

NYSE:RCL traded up $0.84 during trading hours on Wednesday, reaching $127.44. The stock had a trading volume of 1,206,602 shares, compared to its average volume of 2,731,010. The company has a debt-to-equity ratio of 4.03, a quick ratio of 0.16 and a current ratio of 0.19. The stock has a 50 day simple moving average of $127.66 and a 200 day simple moving average of $115.37. Royal Caribbean Cruises has a 12-month low of $59.37 and a 12-month high of $141.70. The stock has a market cap of $32.71 billion, a P/E ratio of 20.51, a price-to-earnings-growth ratio of 0.46 and a beta of 2.52.

Royal Caribbean Cruises (NYSE:RCL) last released its earnings results on Thursday, February 1st. The company reported $1.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.13 by $0.12. Royal Caribbean Cruises had a return on equity of 45.55% and a net margin of 12.22%. The business had revenue of $3.33 billion during the quarter, compared to the consensus estimate of $3.36 billion. During the same period last year, the business posted ($1.12) earnings per share. The business’s revenue for the quarter was up 28.0% on a year-over-year basis. On average, research analysts forecast that Royal Caribbean Cruises will post 10.01 EPS for the current fiscal year.

Insider Activity at Royal Caribbean Cruises

In other Royal Caribbean Cruises 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 completion of the sale, the chief executive officer now directly owns 166,537 shares in the company, valued at $19,319,957.37. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 8.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Nordea Investment Management AB raised its position in shares of Royal Caribbean Cruises by 120.9% during the 4th quarter. Nordea Investment Management AB now owns 194,018 shares of the company’s stock worth $25,149,000 after purchasing an additional 106,203 shares during the last quarter. Geneos Wealth Management Inc. boosted its position in Royal Caribbean Cruises by 1,672.8% in the 4th quarter. Geneos Wealth Management Inc. now owns 18,845 shares of the company’s stock valued at $2,440,000 after buying an additional 17,782 shares during the period. Retireful LLC purchased a new position in Royal Caribbean Cruises in the 4th quarter valued at approximately $1,977,000. Bank of New York Mellon Corp raised its holdings in shares of Royal Caribbean Cruises by 0.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,533,566 shares of the company’s stock valued at $141,303,000 after purchasing an additional 10,095 shares in the last quarter. Finally, Redhawk Wealth Advisors Inc. acquired a new stake in shares of Royal Caribbean Cruises in the 4th quarter valued at $1,120,000. Institutional investors and hedge funds own 87.53% of the company’s stock.

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.