Citigroup Forecasts Strong Price Appreciation for Royal Caribbean Cruises (NYSE:RCL) Stock

Royal Caribbean Cruises (NYSE:RCL) had its price objective lifted by research analysts at Citigroup from $283.00 to $304.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. Citigroup’s price target would indicate a potential upside of 14.84% from the company’s previous close.

Several other research firms have also commented on RCL. Tigress Financial lifted their price target on Royal Caribbean Cruises from $210.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Mizuho reiterated an “outperform” rating and set a $253.00 target price (down previously from $255.00) on shares of Royal Caribbean Cruises in a research note on Thursday, January 23rd. Wells Fargo & Company boosted their price target on Royal Caribbean Cruises from $232.00 to $272.00 and gave the company an “overweight” rating in a research report on Monday. StockNews.com raised Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a research report on Tuesday, November 26th. Finally, Morgan Stanley boosted their target price on Royal Caribbean Cruises from $190.00 to $210.00 and gave the company an “equal weight” rating in a report on Wednesday, January 8th. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $254.94.

Royal Caribbean Cruises Trading Up 11.8 %

Shares of Royal Caribbean Cruises stock opened at $264.71 on Wednesday. The company has a current ratio of 0.19, a quick ratio of 0.16 and a debt-to-equity ratio of 2.63. The company has a fifty day simple moving average of $238.47 and a 200-day simple moving average of $200.21. The stock has a market cap of $71.17 billion, a price-to-earnings ratio of 27.21, a PEG ratio of 0.50 and a beta of 2.59. Royal Caribbean Cruises has a 12-month low of $113.10 and a 12-month high of $269.96.

Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings data on Tuesday, January 28th. The company reported $1.63 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.50 by $0.13. Royal Caribbean Cruises had a return on equity of 52.92% and a net margin of 16.21%. During the same quarter last year, the business earned $1.25 EPS. On average, equities analysts forecast that Royal Caribbean Cruises will post 11.66 EPS for the current fiscal year.

Insider Buying and Selling

In other Royal Caribbean Cruises news, EVP Harri U. Kulovaara sold 3,256 shares of the company’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $234.62, for a total value of $763,922.72. Following the sale, the executive vice president now owns 22,348 shares of the company’s stock, valued at approximately $5,243,287.76. This represents a 12.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Arne Alexander Wilhelmsen sold 230,000 shares of Royal Caribbean Cruises stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $233.62, for a total value of $53,732,600.00. Following the transaction, the director now directly owns 18,556,860 shares of the company’s stock, valued at $4,335,253,633.20. This trade represents a 1.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 372,609 shares of company stock worth $87,647,208 in the last quarter. Company insiders own 7.95% of the company’s stock.

Institutional Investors Weigh In On Royal Caribbean Cruises

Hedge funds and other institutional investors have recently modified their holdings of the company. Fifth Third Wealth Advisors LLC raised its holdings in Royal Caribbean Cruises by 2.2% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 2,360 shares of the company’s stock valued at $544,000 after acquiring an additional 50 shares during the last quarter. Bartlett & CO. Wealth Management LLC lifted its holdings in shares of Royal Caribbean Cruises by 12.3% during the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 457 shares of the company’s stock worth $106,000 after acquiring an additional 50 shares during the period. FSM Wealth Advisors LLC boosted its position in shares of Royal Caribbean Cruises by 3.2% in the third quarter. FSM Wealth Advisors LLC now owns 1,636 shares of the company’s stock worth $290,000 after acquiring an additional 51 shares during the last quarter. Brooklyn Investment Group increased its position in Royal Caribbean Cruises by 2.5% during the fourth quarter. Brooklyn Investment Group now owns 2,117 shares of the company’s stock worth $488,000 after purchasing an additional 52 shares during the last quarter. Finally, Grove Bank & Trust boosted its holdings in shares of Royal Caribbean Cruises by 10.5% in the 4th quarter. Grove Bank & Trust now owns 613 shares of the company’s stock valued at $141,000 after purchasing an additional 58 shares during the last quarter. 87.53% of the stock is currently owned by hedge funds and other institutional investors.

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.