Royal Caribbean Cruises (NYSE:RCL) Price Target Raised to $240.00 at Bank of America

Royal Caribbean Cruises (NYSE:RCL) had its price objective raised by Bank of America from $210.00 to $240.00 in a report published on Wednesday,Benzinga reports. Bank of America currently has a neutral rating on the stock.

Other equities research analysts have also issued reports about the stock. Mizuho lifted their price target on shares of Royal Caribbean Cruises from $168.00 to $195.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Stifel Nicolaus raised their price target on Royal Caribbean Cruises from $200.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, October 11th. The Goldman Sachs Group upped their price objective on Royal Caribbean Cruises from $220.00 to $245.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Tigress Financial raised their target price on shares of Royal Caribbean Cruises from $210.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Citigroup upped their price target 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. Three equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $220.00.

Royal Caribbean Cruises Trading Up 0.0 %

NYSE:RCL traded up $0.11 on Wednesday, reaching $234.36. The company’s stock had a trading volume of 69,106 shares, compared to its average volume of 2,373,927. The company has a debt-to-equity ratio of 2.63, a quick ratio of 0.16 and a current ratio of 0.19. The business’s 50-day moving average price is $190.67 and its two-hundred day moving average price is $166.84. Royal Caribbean Cruises has a 1-year low of $101.00 and a 1-year high of $238.10. The firm has a market cap of $63.01 billion, a PE ratio of 24.08, a PEG ratio of 0.63 and a beta of 2.59.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings results on Tuesday, October 29th. The company reported $5.20 earnings per share for the quarter, beating the consensus estimate of $5.05 by $0.15. Royal Caribbean Cruises had a net margin of 16.21% and a return on equity of 52.92%. The company had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $4.89 billion. During the same quarter in the prior year, the company earned $3.85 earnings per share. The business’s quarterly revenue was up 17.5% compared to the same quarter last year. Equities research analysts anticipate that Royal Caribbean Cruises will post 11.64 earnings per share for the current fiscal year.

Insider Buying and Selling at Royal Caribbean Cruises

In other news, CAO Henry L. Pujol sold 6,723 shares of the business’s stock in a transaction dated 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 sale, the chief accounting officer now owns 9,964 shares of the company’s stock, valued at approximately $2,077,593.64. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, CAO Henry L. Pujol sold 6,723 shares of the business’s 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 completion of the sale, the chief accounting officer now directly owns 9,964 shares in the company, valued at approximately $2,077,593.64. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Richard D. Fain sold 25,000 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $210.02, for a total value of $5,250,500.00. Following the completion of the transaction, the director now owns 204,521 shares in the company, valued at $42,953,500.42. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 34,796 shares of company stock valued at $7,170,759 in the last ninety days. 7.95% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Royal Caribbean Cruises

Institutional investors have recently modified their holdings of the company. Capital International Investors grew its stake in 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 purchasing an additional 286,868 shares during the period. Vanguard Group Inc. increased its stake in Royal Caribbean Cruises by 0.5% in the first quarter. Vanguard Group Inc. now owns 25,409,272 shares of the company’s stock valued at $3,532,143,000 after purchasing an additional 132,079 shares in the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Royal Caribbean Cruises by 24.3% during 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 in the last quarter. D1 Capital Partners L.P. grew its stake in shares of Royal Caribbean Cruises by 105.7% in 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 buying an additional 777,103 shares during the period. Finally, Swiss National Bank raised its stake in Royal Caribbean Cruises by 0.5% during the 3rd quarter. Swiss National Bank now owns 725,638 shares of the company’s stock worth $128,699,000 after buying an additional 3,800 shares during the period. 87.53% of the stock is owned by 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.