Royal Caribbean Cruises (NYSE:RCL) Price Target Raised to $145.00

Royal Caribbean Cruises (NYSE:RCL) had its target price increased by research analysts at Bank of America from $135.00 to $145.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Bank of America‘s target price points to a potential upside of 5.88% from the stock’s previous close.

RCL has been the subject of a number of other reports. Stifel Nicolaus increased their target price on shares of Royal Caribbean Cruises from $170.00 to $174.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. Mizuho increased their price objective on Royal Caribbean Cruises from $164.00 to $168.00 and gave the company a “buy” rating in a report on Friday, April 26th. Macquarie raised their target price on Royal Caribbean Cruises from $145.00 to $160.00 and gave the stock an “outperform” rating in a research report on Friday, March 15th. Wells Fargo & Company upped their price target on Royal Caribbean Cruises from $153.00 to $159.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Finally, UBS Group raised their price target on Royal Caribbean Cruises from $148.00 to $154.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $141.71.

Royal Caribbean Cruises Stock Performance

Royal Caribbean Cruises stock traded down $0.57 during mid-day trading on Thursday, reaching $136.95. 968,342 shares of the company’s stock were exchanged, compared to its average volume of 2,782,021. The firm has a market capitalization of $35.24 billion, a PE ratio of 17.59, a P/E/G ratio of 0.46 and a beta of 2.49. The company has a quick ratio of 0.16, a current ratio of 0.19 and a debt-to-equity ratio of 3.54. The business’s fifty day simple moving average is $131.68 and its 200 day simple moving average is $118.76. Royal Caribbean Cruises has a one year low of $67.05 and a one year high of $143.62.

Royal Caribbean Cruises (NYSE:RCL) last released its earnings results on Thursday, April 25th. The company reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.44. The company had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.69 billion. Royal Caribbean Cruises had a return on equity of 51.54% and a net margin of 14.28%. The business’s revenue for the quarter was up 29.2% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.23) EPS. On average, sell-side analysts expect that Royal Caribbean Cruises will post 11.1 earnings per share for the current year.

Insider Activity

In other Royal Caribbean Cruises news, CEO Jason T. Liberty sold 50,000 shares of the firm’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $139.63, for a total value of $6,981,500.00. Following the sale, the chief executive officer now owns 153,017 shares of the company’s stock, valued at approximately $21,365,763.71. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, CEO Michael W. Bayley sold 11,753 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $116.01, for a total transaction of $1,363,465.53. Following the transaction, the chief executive officer now directly owns 166,537 shares of the company’s stock, valued at $19,319,957.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jason T. Liberty sold 50,000 shares of the firm’s stock in a transaction on Friday, April 26th. The stock was sold at an average price of $139.63, for a total value of $6,981,500.00. Following the completion of the sale, the chief executive officer now directly owns 153,017 shares of the company’s stock, valued at approximately $21,365,763.71. The disclosure for this sale can be found here. Insiders own 8.70% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Norges Bank bought a new position in shares of Royal Caribbean Cruises in the 4th quarter worth approximately $323,251,000. Eagle Asset Management Inc. bought a new position in Royal Caribbean Cruises in the fourth quarter worth $79,392,000. Vanguard Group Inc. lifted its position in Royal Caribbean Cruises by 2.0% during the third quarter. Vanguard Group Inc. now owns 24,917,423 shares of the company’s stock valued at $2,295,891,000 after buying an additional 487,327 shares during the period. Vaughan Nelson Investment Management L.P. bought a new position in shares of Royal Caribbean Cruises in the 1st quarter worth about $66,279,000. Finally, Jupiter Asset Management Ltd. lifted its position in Royal Caribbean Cruises by 476.1% during the 3rd quarter. Jupiter Asset Management Ltd. now owns 470,816 shares of the company’s stock valued at $43,381,000 after acquiring an additional 389,095 shares during the period. 87.53% of the stock is currently owned by institutional investors.

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.