Citigroup Boosts Royal Caribbean Cruises (NYSE:RCL) Price Target to $204.00

Royal Caribbean Cruises (NYSE:RCL) had its target price increased by Citigroup from $165.00 to $204.00 in a research note released on Wednesday morning, Benzinga reports. They currently have a buy rating on the stock.

Several other research firms also recently weighed in on RCL. The Goldman Sachs Group restated a buy rating on shares of Royal Caribbean Cruises in a research note on Monday, April 1st. Susquehanna increased their price target on Royal Caribbean Cruises from $150.00 to $160.00 and gave the company a positive rating in a report on Friday, April 26th. Bank of America increased their price target on Royal Caribbean Cruises from $135.00 to $145.00 and gave the company a neutral rating in a report on Thursday, May 2nd. Wells Fargo & Company increased their price target on Royal Caribbean Cruises from $159.00 to $165.00 and gave the company an overweight rating in a report on Friday, May 17th. Finally, Barclays increased their price target on Royal Caribbean Cruises from $154.00 to $165.00 and gave the company an overweight rating in a report on Friday, April 26th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $161.13.

Royal Caribbean Cruises Trading Down 0.5 %

Shares of RCL stock opened at $159.48 on Wednesday. The company has a quick ratio of 0.16, a current ratio of 0.19 and a debt-to-equity ratio of 3.54. The business has a 50-day moving average price of $147.39 and a two-hundred day moving average price of $133.58. Royal Caribbean Cruises has a 12-month low of $78.35 and a 12-month high of $162.50. The firm has a market cap of $41.04 billion, a P/E ratio of 20.55, a price-to-earnings-growth ratio of 0.49 and a beta of 2.56.

Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings results on Thursday, April 25th. The company reported $1.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.44. Royal Caribbean Cruises had a return on equity of 51.54% and a net margin of 14.28%. The firm had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.69 billion. During the same quarter in the previous year, the company posted ($0.23) earnings per share. The company’s revenue was up 29.2% compared to the same quarter last year. Equities analysts anticipate that Royal Caribbean Cruises will post 11.1 EPS for the current fiscal year.

Insider Activity

In other news, Director Richard D. Fain sold 19,584 shares of Royal Caribbean Cruises stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $153.96, for a total transaction of $3,015,152.64. Following the completion of the sale, the director now owns 179,117 shares of the company’s stock, valued at $27,576,853.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Richard D. Fain sold 19,584 shares of Royal Caribbean Cruises stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $153.96, for a total transaction of $3,015,152.64. Following the transaction, the director now directly owns 179,117 shares of the company’s stock, valued at $27,576,853.32. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Henry L. Pujol sold 9,944 shares of Royal Caribbean Cruises stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $141.23, for a total transaction of $1,404,391.12. Following the transaction, the chief accounting officer now directly owns 16,687 shares in the company, valued at $2,356,705.01. The disclosure for this sale can be found here. Over the last quarter, insiders sold 152,884 shares of company stock valued at $22,052,985. Corporate insiders own 7.95% of the company’s stock.

Hedge Funds Weigh In On Royal Caribbean Cruises

Institutional investors have recently bought and sold shares of the business. Keystone Financial Group purchased a new position in Royal Caribbean Cruises during the fourth quarter valued at approximately $209,000. Nordea Investment Management AB grew its holdings in Royal Caribbean Cruises by 120.9% in the fourth 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. Quadrant Capital Group LLC grew its holdings in Royal Caribbean Cruises by 19.0% in the fourth quarter. Quadrant Capital Group LLC now owns 1,788 shares of the company’s stock worth $232,000 after purchasing an additional 285 shares during the last quarter. Geneos Wealth Management Inc. grew its holdings in Royal Caribbean Cruises by 1,672.8% in the fourth quarter. Geneos Wealth Management Inc. now owns 18,845 shares of the company’s stock worth $2,440,000 after purchasing an additional 17,782 shares during the last quarter. Finally, Retireful LLC purchased a new position in Royal Caribbean Cruises in the fourth quarter worth $1,977,000. 87.53% of the stock is owned by hedge funds and other institutional investors.

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.