Royal Caribbean Cruises (NYSE:RCL) PT Raised to $183.00

Royal Caribbean Cruises (NYSE:RCL) had its price target raised by equities research analysts at UBS Group from $168.00 to $183.00 in a research note issued on Wednesday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. UBS Group’s price target points to a potential upside of 16.94% from the company’s previous close.

RCL has been the topic of a number of other reports. Truist Financial lifted their price objective on Royal Caribbean Cruises from $151.00 to $175.00 and gave the stock a “buy” rating in a research note on Wednesday, May 29th. Citigroup increased their price objective 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. Susquehanna boosted their target price on shares of Royal Caribbean Cruises from $160.00 to $180.00 and gave the stock a “positive” rating in a research report on Tuesday. Argus upped their target price on shares of Royal Caribbean Cruises from $161.00 to $172.00 and gave the company a “buy” rating in a research note on Wednesday, May 29th. Finally, Macquarie raised their price target on shares of Royal Caribbean Cruises from $165.00 to $189.00 and gave the stock an “outperform” rating in a research report on Tuesday. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, Royal Caribbean Cruises currently has a consensus rating of “Moderate Buy” and a consensus price target of $176.25.

Royal Caribbean Cruises Stock Down 0.3 %

RCL traded down $0.45 during midday trading on Wednesday, hitting $156.49. 1,089,874 shares of the company’s stock traded hands, compared to its average volume of 2,515,200. The company has a debt-to-equity ratio of 3.20, a current ratio of 0.19 and a quick ratio of 0.17. The company has a market cap of $40.27 billion, a PE ratio of 20.17, a price-to-earnings-growth ratio of 0.43 and a beta of 2.62. The stock’s fifty day simple moving average is $156.60 and its 200-day simple moving average is $139.53. Royal Caribbean Cruises has a one year low of $78.35 and a one year high of $173.37.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings results on Thursday, July 25th. The company reported $3.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.76 by $0.45. The company had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.05 billion. Royal Caribbean Cruises had a return on equity of 52.49% and a net margin of 16.32%. The firm’s revenue was up 16.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.82 EPS. As a group, equities analysts anticipate that Royal Caribbean Cruises will post 11.59 earnings per share for the current fiscal year.

Insider Transactions 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 value of $3,393,222.21. Following the completion of the sale, the chief executive officer now directly owns 98,850 shares of the company’s stock, valued at approximately $13,859,758.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Michael W. Bayley sold 24,201 shares of Royal Caribbean Cruises stock in a transaction dated 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 sale, the chief executive officer now directly owns 98,850 shares in the company, valued at $13,859,758.50. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Richard D. Fain sold 19,584 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $153.96, for a total transaction of $3,015,152.64. Following the sale, the director now directly owns 179,117 shares of the company’s stock, valued at $27,576,853.32. The disclosure for this sale can be found here. Over the last three months, insiders have sold 92,940 shares of company stock worth $13,667,094. Corporate insiders own 7.95% of the company’s stock.

Hedge Funds Weigh In On Royal Caribbean Cruises

A number of hedge funds and other institutional investors have recently made changes to their positions in RCL. Raymond James & Associates increased its holdings in shares of Royal Caribbean Cruises by 48.9% in the fourth quarter. Raymond James & Associates now owns 115,034 shares of the company’s stock worth $14,896,000 after acquiring an additional 37,784 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Royal Caribbean Cruises by 367.2% in the fourth quarter. Blue Trust Inc. now owns 313 shares of the company’s stock valued at $41,000 after purchasing an additional 246 shares in the last quarter. Global Retirement Partners LLC boosted its position in shares of Royal Caribbean Cruises by 133.1% during the fourth quarter. Global Retirement Partners LLC now owns 2,900 shares of the company’s stock worth $356,000 after buying an additional 1,656 shares during the period. UMB Bank n.a. grew its holdings in shares of Royal Caribbean Cruises by 413.5% during the fourth quarter. UMB Bank n.a. now owns 1,592 shares of the company’s stock worth $206,000 after buying an additional 1,282 shares in the last quarter. Finally, China Universal Asset Management Co. Ltd. acquired a new stake in Royal Caribbean Cruises in the 4th quarter valued at approximately $847,000. 87.53% of the stock is owned by 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.