Royal Caribbean Cruises (NYSE:RCL) Reaches New 1-Year High Following Analyst Upgrade

Royal Caribbean Cruises Ltd. (NYSE:RCL)’s share price hit a new 52-week high during mid-day trading on Monday after Stifel Nicolaus raised their price target on the stock from $250.00 to $310.00. Stifel Nicolaus currently has a buy rating on the stock. Royal Caribbean Cruises traded as high as $260.00 and last traded at $260.00, with a volume of 1156 shares changing hands. The stock had previously closed at $258.09.

A number of other brokerages have also recently commented on RCL. JPMorgan Chase & Co. lifted their price target on Royal Caribbean Cruises from $213.00 to $243.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 29th. Truist Financial upped their price target on shares of Royal Caribbean Cruises from $204.00 to $272.00 and gave the company a “buy” rating in a report on Monday, December 2nd. Bank of America increased their price target on shares of Royal Caribbean Cruises from $210.00 to $240.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. The Goldman Sachs Group boosted their price objective on shares of Royal Caribbean Cruises from $220.00 to $245.00 and gave the company a “buy” rating in a research report on Wednesday, October 30th. Finally, Barclays lifted their price objective on Royal Caribbean Cruises from $244.00 to $245.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $233.63.

Insider Buying and Selling at Royal Caribbean Cruises

In related news, CAO Henry L. Pujol sold 6,723 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $208.51, for a total value of $1,401,812.73. Following the completion of the transaction, the chief accounting officer now owns 9,964 shares of the company’s stock, valued at approximately $2,077,593.64. This represents a 40.29 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Richard D. Fain sold 25,000 shares of the stock in a transaction dated 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 sale, the director now owns 204,521 shares of the company’s stock, valued at $42,953,500.42. This represents a 10.89 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 404,332 shares of company stock worth $94,299,521 in the last three months. 7.95% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Plato Investment Management Ltd purchased a new stake in Royal Caribbean Cruises in the 3rd quarter worth $26,000. Unique Wealth Strategies LLC bought a new stake in shares of Royal Caribbean Cruises in the second quarter worth about $27,000. Safe Harbor Fiduciary LLC purchased a new stake in shares of Royal Caribbean Cruises in the third quarter worth about $27,000. DiNuzzo Private Wealth Inc. lifted its position in shares of Royal Caribbean Cruises by 257.4% in the third quarter. DiNuzzo Private Wealth Inc. now owns 168 shares of the company’s stock worth $30,000 after buying an additional 121 shares in the last quarter. Finally, LRI Investments LLC bought a new position in Royal Caribbean Cruises during the third quarter valued at approximately $31,000. 87.53% of the stock is currently owned by institutional investors.

Royal Caribbean Cruises Price Performance

The company has a debt-to-equity ratio of 2.63, a quick ratio of 0.16 and a current ratio of 0.19. The firm has a fifty day simple moving average of $215.38 and a two-hundred day simple moving average of $178.94. The firm has a market cap of $69.91 billion, a PE ratio of 26.53, a PEG ratio of 0.68 and a beta of 2.60.

Royal Caribbean Cruises (NYSE:RCL) last posted its earnings results on Tuesday, October 29th. The company reported $5.20 earnings per share for the quarter, beating analysts’ consensus estimates of $5.05 by $0.15. Royal Caribbean Cruises had a net margin of 16.21% and a return on equity of 52.92%. The firm had revenue of $4.89 billion during the quarter, compared to analyst estimates of $4.89 billion. During the same period last year, the firm posted $3.85 earnings per share. Royal Caribbean Cruises’s revenue for the quarter was up 17.5% compared to the same quarter last year. Equities analysts predict that Royal Caribbean Cruises Ltd. will post 11.65 EPS for the current fiscal year.

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.