Royal Caribbean Cruises (NYSE:RCL) Hits New 52-Week High at $162.85

Royal Caribbean Cruises Ltd. (NYSE:RCL) shares hit a new 52-week high during trading on Monday . The stock traded as high as $162.85 and last traded at $162.63, with a volume of 841095 shares trading hands. The stock had previously closed at $156.78.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the company. Argus upped their price target on Royal Caribbean Cruises from $161.00 to $172.00 and gave the stock a “buy” rating in a research note on Wednesday, May 29th. Bank of America boosted their price target on shares of Royal Caribbean Cruises from $135.00 to $145.00 and gave the company a “neutral” rating in a research note on Thursday, May 2nd. Barclays boosted their target price on shares of Royal Caribbean Cruises from $154.00 to $165.00 and gave the stock an “overweight” rating in a research report on Friday, April 26th. Macquarie lifted their price target on Royal Caribbean Cruises from $145.00 to $160.00 and gave the company an “outperform” rating in a research note on Friday, March 15th. Finally, Susquehanna raised their target price on Royal Caribbean Cruises from $150.00 to $160.00 and gave the company a “positive” rating in a report on Friday, April 26th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $161.13.

Royal Caribbean Cruises Price Performance

The company has a debt-to-equity ratio of 3.54, a current ratio of 0.19 and a quick ratio of 0.16. The firm has a market cap of $41.86 billion, a PE ratio of 21.02, a P/E/G ratio of 0.48 and a beta of 2.62. The business’s fifty day moving average is $150.15 and its 200-day moving average is $135.45.

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

Insider Activity

In other Royal Caribbean Cruises news, CEO Jason T. Liberty sold 50,000 shares of the company’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $139.63, for a total transaction of $6,981,500.00. Following the sale, the chief executive officer now directly owns 153,017 shares of the company’s stock, valued at $21,365,763.71. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, Director Richard D. Fain sold 19,584 shares of the firm’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $153.96, for a total value of $3,015,152.64. Following the completion of the transaction, the director now directly owns 179,117 shares of the company’s stock, valued at $27,576,853.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jason T. Liberty sold 50,000 shares of the business’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 in the company, valued at $21,365,763.71. The disclosure for this sale can be found here. Insiders have sold 152,884 shares of company stock valued at $22,052,985 in the last 90 days. Insiders own 7.95% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in RCL. Norges Bank purchased a new stake in shares of Royal Caribbean Cruises in the fourth quarter worth about $323,251,000. Eagle Asset Management Inc. bought a new position in Royal Caribbean Cruises in the 4th quarter valued at $79,392,000. Vanguard Group Inc. boosted its holdings in Royal Caribbean Cruises by 2.0% in the 3rd quarter. Vanguard Group Inc. now owns 24,917,423 shares of the company’s stock valued at $2,295,891,000 after purchasing an additional 487,327 shares during the period. Vaughan Nelson Investment Management L.P. purchased a new position in shares of Royal Caribbean Cruises during the 1st quarter valued at $66,279,000. Finally, Junto Capital Management LP bought a new position in shares of Royal Caribbean Cruises in the fourth quarter worth $47,950,000. 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.