Royal Caribbean Cruises (NYSE:RCL) Given New $250.00 Price Target at Macquarie

Royal Caribbean Cruises (NYSE:RCL) had its target price hoisted by Macquarie from $189.00 to $250.00 in a report published on Wednesday morning, Benzinga reports. The brokerage currently has an outperform rating on the stock.

A number of other equities analysts have also recently issued reports on RCL. Mizuho increased their target price on Royal Caribbean Cruises from $168.00 to $195.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Morgan Stanley increased their price target on Royal Caribbean Cruises from $140.00 to $154.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 7th. Tigress Financial increased their price objective on Royal Caribbean Cruises from $155.00 to $210.00 and gave the company a “buy” rating in a research report on Friday, August 2nd. Bank of America increased their price objective on Royal Caribbean Cruises from $205.00 to $210.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, Wells Fargo & Company increased their price objective on Royal Caribbean Cruises from $180.00 to $232.00 and gave the company an “overweight” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $214.00.

Royal Caribbean Cruises Trading Down 0.8 %

Shares of RCL opened at $208.34 on Wednesday. Royal Caribbean Cruises has a 1 year low of $83.25 and a 1 year high of $214.12. The company has a current ratio of 0.19, a quick ratio of 0.17 and a debt-to-equity ratio of 3.20. The stock has a 50 day simple moving average of $179.29 and a 200-day simple moving average of $160.68. The stock has a market cap of $53.62 billion, a PE ratio of 22.72, a PEG ratio of 0.58 and a beta of 2.61.

Royal Caribbean Cruises (NYSE:RCL) last issued its 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. Royal Caribbean Cruises had a return on equity of 52.49% and a net margin of 16.32%. The business had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $4.89 billion. During the same period in the prior year, the firm posted $3.85 EPS. Royal Caribbean Cruises’s quarterly revenue was up 17.5% compared to the same quarter last year. On average, sell-side analysts predict that Royal Caribbean Cruises will post 11.61 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Laura H. Bethge sold 3,073 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $168.71, for a total transaction of $518,445.83. Following the sale, the insider now owns 27,388 shares of the company’s stock, valued at approximately $4,620,629.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Royal Caribbean Cruises news, insider Laura H. Bethge sold 3,073 shares of Royal Caribbean Cruises stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $168.71, for a total value of $518,445.83. Following the sale, the insider now owns 27,388 shares of the company’s stock, valued at $4,620,629.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Naftali Holtz purchased 5,350 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was purchased at an average cost of $140.00 per share, for a total transaction of $749,000.00. Following the purchase, the chief financial officer now directly owns 48,256 shares in the company, valued at approximately $6,755,840. This trade represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 7.95% of the stock is currently owned by company insiders.

Institutional Trading of Royal Caribbean Cruises

Hedge funds and other institutional investors have recently modified their holdings of the company. Blair William & Co. IL raised its stake in shares of Royal Caribbean Cruises by 37.4% in the 1st quarter. Blair William & Co. IL now owns 102,133 shares of the company’s stock valued at $14,197,000 after purchasing an additional 27,819 shares during the period. Wedge Capital Management L L P NC raised its stake in shares of Royal Caribbean Cruises by 2.6% in the 3rd quarter. Wedge Capital Management L L P NC now owns 289,518 shares of the company’s stock valued at $51,349,000 after purchasing an additional 7,298 shares during the period. QRG Capital Management Inc. raised its stake in shares of Royal Caribbean Cruises by 17.2% in the 2nd quarter. QRG Capital Management Inc. now owns 38,613 shares of the company’s stock valued at $6,156,000 after purchasing an additional 5,655 shares during the period. New Wave Wealth Advisors LLC acquired a new stake in shares of Royal Caribbean Cruises in the 2nd quarter valued at about $611,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of Royal Caribbean Cruises by 8.0% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 35,575 shares of the company’s stock valued at $6,310,000 after acquiring an additional 2,640 shares in the last quarter. 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.