Mizuho Begins Coverage on Royal Caribbean Cruises (NYSE:RCL)

Investment analysts at Mizuho began coverage on shares of Royal Caribbean Cruises (NYSE:RCL) in a report released on Wednesday, Marketbeat reports. The brokerage set a “buy” rating and a $164.00 price target on the stock. Mizuho’s target price would indicate a potential upside of 28.69% from the company’s current price.

RCL has been the topic of several other reports. Stifel Nicolaus boosted their price objective on shares of Royal Caribbean Cruises from $170.00 to $174.00 and gave the stock a “buy” rating in a research note on Thursday, February 22nd. Susquehanna boosted their price objective on shares of Royal Caribbean Cruises from $120.00 to $150.00 and gave the stock a “positive” rating in a research note on Wednesday, January 31st. UBS Group lifted their target price on shares of Royal Caribbean Cruises from $148.00 to $154.00 and gave the stock a “buy” rating in a report on Friday, February 16th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Royal Caribbean Cruises in a report on Monday, April 1st. Finally, Argus lifted their target price on shares of Royal Caribbean Cruises from $95.00 to $142.00 and gave the stock a “buy” rating in a report on Thursday, December 21st. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $136.94.

Royal Caribbean Cruises Stock Up 0.7 %

RCL stock traded up $0.84 during midday trading on Wednesday, hitting $127.44. The company’s stock had a trading volume of 1,206,602 shares, compared to its average volume of 2,731,010. The company has a debt-to-equity ratio of 4.03, a current ratio of 0.19 and a quick ratio of 0.16. Royal Caribbean Cruises has a twelve month low of $59.37 and a twelve month high of $141.70. The company’s fifty day moving average price is $127.66 and its 200 day moving average price is $115.37. The stock has a market capitalization of $32.71 billion, a P/E ratio of 20.51, a PEG ratio of 0.46 and a beta of 2.52.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings data on Thursday, February 1st. The company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.12. The company had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.36 billion. Royal Caribbean Cruises had a net margin of 12.22% and a return on equity of 45.55%. Royal Caribbean Cruises’s revenue for the quarter was up 28.0% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.12) EPS. As a group, equities research analysts predict that Royal Caribbean Cruises will post 10.01 EPS for the current year.

Insider Transactions at Royal Caribbean Cruises

In other news, CEO Michael W. Bayley sold 11,753 shares of the company’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $116.01, for a total transaction of $1,363,465.53. Following the completion of the sale, the chief executive officer now owns 166,537 shares of the company’s stock, valued at approximately $19,319,957.37. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 8.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Royal Caribbean Cruises

A number of institutional investors have recently added to or reduced their stakes in the stock. Wealthcare Advisory Partners LLC increased its position in Royal Caribbean Cruises by 12.8% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 6,666 shares of the company’s stock worth $927,000 after purchasing an additional 759 shares in the last quarter. Riverview Trust Co acquired a new position in Royal Caribbean Cruises during the 1st quarter worth approximately $124,000. Harbor Investment Advisory LLC increased its position in Royal Caribbean Cruises by 1,756.7% during the 1st quarter. Harbor Investment Advisory LLC now owns 2,785 shares of the company’s stock worth $387,000 after purchasing an additional 2,635 shares in the last quarter. Range Financial Group LLC increased its position in Royal Caribbean Cruises by 2.1% in the 1st quarter. Range Financial Group LLC now owns 16,221 shares of the company’s stock valued at $2,255,000 after acquiring an additional 339 shares during the period. Finally, Lbmc Investment Advisors LLC acquired a new position in Royal Caribbean Cruises in the 1st quarter valued at approximately $209,000. 87.53% of the stock is currently owned by institutional investors and hedge funds.

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.