Royal Caribbean Cruises (NYSE:RCL) Reaches New 12-Month High – Still a Buy?

Royal Caribbean Cruises Ltd. (NYSE:RCL) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $226.68 and last traded at $225.70, with a volume of 128394 shares. The stock had previously closed at $210.77.

Analyst Upgrades and Downgrades

Several analysts have recently commented on RCL shares. Truist Financial increased their target price on shares of Royal Caribbean Cruises from $175.00 to $204.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Citigroup lifted their target price on shares of Royal Caribbean Cruises from $253.00 to $257.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Morgan Stanley boosted their target price on Royal Caribbean Cruises from $140.00 to $154.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 7th. Bank of America increased their price target on Royal Caribbean Cruises from $205.00 to $210.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Finally, Macquarie boosted their price objective on Royal Caribbean Cruises from $189.00 to $250.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $218.00.

Royal Caribbean Cruises Stock Up 2.2 %

The stock’s 50 day moving average is $186.20 and its 200 day moving average is $164.61. The company has a market capitalization of $60.57 billion, a PE ratio of 23.15, a PEG ratio of 0.60 and a beta of 2.59. The company has a debt-to-equity ratio of 2.63, a quick ratio of 0.16 and a current ratio of 0.19.

Royal Caribbean Cruises (NYSE:RCL) last posted its earnings results on Tuesday, October 29th. The company reported $5.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.05 by $0.15. The firm had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.89 billion. Royal Caribbean Cruises had a return on equity of 52.92% and a net margin of 16.21%. The business’s quarterly revenue was up 17.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.85 earnings per share. On average, sell-side analysts anticipate that Royal Caribbean Cruises Ltd. will post 11.65 EPS for the current fiscal year.

Insider Activity at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, CAO Henry L. Pujol sold 6,723 shares of the business’s stock in a transaction that occurred 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 $2,077,593.64. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Royal Caribbean Cruises news, CAO Henry L. Pujol sold 6,723 shares of Royal Caribbean Cruises stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $208.51, for a total value of $1,401,812.73. Following the transaction, the chief accounting officer now directly owns 9,964 shares of the company’s stock, valued at $2,077,593.64. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Vagn O. Sorensen sold 5,800 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $158.50, for a total transaction of $919,300.00. Following the completion of the transaction, the director now owns 25,837 shares in the company, valued at $4,095,164.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 40,596 shares of company stock valued at $8,090,059. Corporate insiders own 7.95% of the company’s stock.

Institutional Trading of Royal Caribbean Cruises

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. D1 Capital Partners L.P. boosted its holdings in shares of Royal Caribbean Cruises by 105.7% during the 2nd quarter. D1 Capital Partners L.P. now owns 1,512,103 shares of the company’s stock valued at $241,075,000 after acquiring an additional 777,103 shares during the last quarter. International Assets Investment Management LLC lifted its position in shares of Royal Caribbean Cruises by 10,599.0% in the third quarter. International Assets Investment Management LLC now owns 409,879 shares of the company’s stock valued at $72,696,000 after acquiring an additional 406,048 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in Royal Caribbean Cruises by 24.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,048,501 shares of the company’s stock worth $326,616,000 after purchasing an additional 400,565 shares during the period. Capital International Investors boosted its position in shares of Royal Caribbean Cruises by 1.0% during the first quarter. Capital International Investors now owns 29,596,455 shares of the company’s stock worth $4,114,203,000 after acquiring an additional 286,868 shares during the last quarter. Finally, Forest Avenue Capital Management LP purchased a new position in shares of Royal Caribbean Cruises during the second quarter valued at about $35,038,000. Hedge funds and other institutional investors own 87.53% of the company’s stock.

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.