Macquarie Increases Royal Caribbean Cruises (NYSE:RCL) Price Target to $189.00

Royal Caribbean Cruises (NYSE:RCL) had its target price raised by investment analysts at Macquarie from $165.00 to $189.00 in a report issued on Tuesday, Benzinga reports. The brokerage presently has an “outperform” rating on the stock. Macquarie’s price objective indicates a potential upside of 21.04% from the stock’s current price.

A number of other research analysts have also recently weighed in on the stock. Barclays lifted their price objective on shares of Royal Caribbean Cruises from $185.00 to $195.00 and gave the company an “overweight” rating in a report on Friday. Truist Financial increased their price target on Royal Caribbean Cruises from $151.00 to $175.00 and gave the stock a “buy” rating in a research report on Wednesday, May 29th. Susquehanna boosted their price objective on Royal Caribbean Cruises from $160.00 to $180.00 and gave the company a “positive” rating in a research report on Tuesday. Citigroup increased their target price on Royal Caribbean Cruises from $165.00 to $204.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. Finally, Mizuho lifted their price target on shares of Royal Caribbean Cruises from $168.00 to $195.00 and gave the company an “outperform” rating in a research note on Friday. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, Royal Caribbean Cruises presently has an average rating of “Moderate Buy” and an average price target of $175.31.

Royal Caribbean Cruises Stock Performance

RCL traded up $1.01 during trading on Tuesday, reaching $156.15. 169,788 shares of the company’s stock were exchanged, compared to its average volume of 2,509,435. The company’s fifty day simple moving average is $156.48 and its 200-day simple moving average is $139.28. The stock has a market capitalization of $40.19 billion, a P/E ratio of 20.12, a price-to-earnings-growth ratio of 0.44 and a beta of 2.62. The company has a debt-to-equity ratio of 3.20, a current ratio of 0.19 and a quick ratio of 0.17. Royal Caribbean Cruises has a 1 year low of $78.35 and a 1 year high of $173.37.

Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings results on Thursday, July 25th. The company reported $3.21 EPS for the quarter, beating the consensus estimate of $2.76 by $0.45. The company had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.05 billion. Royal Caribbean Cruises had a net margin of 16.32% and a return on equity of 52.49%. The firm’s revenue was up 16.4% on a year-over-year basis. During the same period in the prior year, the company earned $1.82 earnings per share. As a group, research analysts predict that Royal Caribbean Cruises will post 11.63 earnings per share for the current fiscal year.

Insider Buying and Selling at Royal Caribbean Cruises

In other news, CEO Michael W. Bayley sold 24,201 shares of Royal Caribbean Cruises stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $140.21, for a total transaction of $3,393,222.21. Following the transaction, the chief executive officer now owns 98,850 shares in the company, valued at approximately $13,859,758.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Michael W. Bayley sold 49,155 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $147.67, for a total value of $7,258,718.85. Following the transaction, the chief executive officer now directly owns 49,695 shares in the company, valued at $7,338,460.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael W. Bayley sold 24,201 shares of the stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $140.21, for a total value of $3,393,222.21. Following the completion of the transaction, the chief executive officer now owns 98,850 shares of the company’s stock, valued at $13,859,758.50. The disclosure for this sale can be found here. Insiders sold a total of 92,940 shares of company stock worth $13,667,094 in the last three months. 7.95% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Royal Caribbean Cruises

Several large investors have recently modified their holdings of RCL. Signaturefd LLC lifted its position in Royal Caribbean Cruises by 10.5% in the second quarter. Signaturefd LLC now owns 6,009 shares of the company’s stock valued at $958,000 after buying an additional 570 shares during the last quarter. Highview Capital Management LLC DE lifted its holdings in shares of Royal Caribbean Cruises by 4.2% in the 2nd quarter. Highview Capital Management LLC DE now owns 11,548 shares of the company’s stock worth $1,841,000 after acquiring an additional 463 shares during the last quarter. UMB Bank n.a. increased its holdings in Royal Caribbean Cruises by 5.7% in the 2nd quarter. UMB Bank n.a. now owns 1,683 shares of the company’s stock valued at $268,000 after purchasing an additional 91 shares during the last quarter. Panagora Asset Management Inc. increased its holdings in Royal Caribbean Cruises by 56.5% in the 2nd quarter. Panagora Asset Management Inc. now owns 9,307 shares of the company’s stock valued at $1,484,000 after purchasing an additional 3,360 shares during the last quarter. Finally, Kraft Davis & Associates LLC purchased a new stake in Royal Caribbean Cruises in the second quarter valued at approximately $335,000. 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.