Royal Caribbean Cruises (NYSE:RCL) Upgraded by StockNews.com to Hold Rating

StockNews.com upgraded shares of Royal Caribbean Cruises (NYSE:RCL) from a sell rating to a hold rating in a report released on Thursday morning.

Several other research firms have also recently weighed in on RCL. Macquarie upped their price target on shares of Royal Caribbean Cruises from $189.00 to $250.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Morgan Stanley upped their price objective on shares of 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. Wells Fargo & Company increased their price target on shares of Royal Caribbean Cruises from $180.00 to $232.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Mizuho increased their target price on Royal Caribbean Cruises from $168.00 to $195.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Finally, Barclays lifted their price target on Royal Caribbean Cruises from $244.00 to $245.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Royal Caribbean Cruises has a consensus rating of “Moderate Buy” and a consensus price target of $218.00.

Royal Caribbean Cruises Stock Up 2.3 %

Shares of NYSE RCL traded up $4.99 during trading on Thursday, hitting $225.51. The stock had a trading volume of 891,337 shares, compared to its average volume of 2,385,597. The company has a market capitalization of $60.64 billion, a PE ratio of 23.32, a PEG ratio of 0.60 and a beta of 2.59. The company has a debt-to-equity ratio of 2.63, a current ratio of 0.19 and a quick ratio of 0.16. The firm has a fifty day moving average of $183.91 and a two-hundred day moving average of $163.56. Royal Caribbean Cruises has a 12 month low of $92.15 and a 12 month high of $228.08.

Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $5.20 earnings per share for the quarter, topping the consensus estimate of $5.05 by $0.15. The company had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $4.89 billion. Royal Caribbean Cruises had a return on equity of 52.92% and a net margin of 16.21%. The firm’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $3.85 EPS. As a group, equities research analysts forecast that Royal Caribbean Cruises will post 11.65 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Richard D. Fain sold 25,000 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $210.02, for a total transaction of $5,250,500.00. Following the completion of the transaction, the director now directly owns 204,521 shares of the company’s stock, valued at approximately $42,953,500.42. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Royal Caribbean Cruises news, Director Vagn O. Sorensen sold 5,800 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $158.50, for a total value of $919,300.00. Following the completion of the sale, the director now directly owns 25,837 shares of the company’s stock, valued at $4,095,164.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard D. Fain sold 25,000 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $210.02, for a total value of $5,250,500.00. Following the completion of the transaction, the director now directly owns 204,521 shares in the company, valued at approximately $42,953,500.42. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 40,596 shares of company stock valued at $8,090,059. 7.95% of the stock is owned by corporate insiders.

Institutional Trading of Royal Caribbean Cruises

Hedge funds have recently bought and sold shares of the stock. FSM Wealth Advisors LLC increased its position in shares of Royal Caribbean Cruises by 3.2% during the third quarter. FSM Wealth Advisors LLC now owns 1,636 shares of the company’s stock worth $290,000 after purchasing an additional 51 shares in the last quarter. Venturi Wealth Management LLC raised its stake in Royal Caribbean Cruises by 20.9% in the third quarter. Venturi Wealth Management LLC now owns 353 shares of the company’s stock valued at $63,000 after buying an additional 61 shares during the last quarter. Venture Visionary Partners LLC boosted its holdings in Royal Caribbean Cruises by 4.8% in the third quarter. Venture Visionary Partners LLC now owns 1,366 shares of the company’s stock worth $242,000 after acquiring an additional 62 shares in the last quarter. Empower Advisory Group LLC grew its stake in shares of Royal Caribbean Cruises by 3.7% during the third quarter. Empower Advisory Group LLC now owns 1,755 shares of the company’s stock worth $311,000 after acquiring an additional 63 shares during the last quarter. Finally, Ipswich Investment Management Co. Inc. increased its holdings in shares of Royal Caribbean Cruises by 3.3% during the third quarter. Ipswich Investment Management Co. Inc. now owns 2,201 shares of the company’s stock valued at $390,000 after acquiring an additional 70 shares in the last quarter. Hedge funds and other institutional investors own 87.53% of the company’s stock.

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.