Citigroup Forecasts Strong Price Appreciation for Royal Caribbean Cruises (NYSE:RCL) Stock

Royal Caribbean Cruises (NYSE:RCL) had its price target increased by equities research analysts at Citigroup from $257.00 to $283.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s target price points to a potential upside of 14.85% from the company’s previous close.

A number of other brokerages have also recently commented on RCL. Truist Financial increased their price target on shares of Royal Caribbean Cruises from $204.00 to $272.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. Bank of America boosted their price objective on shares of Royal Caribbean Cruises from $210.00 to $240.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Macquarie raised their target price on Royal Caribbean Cruises from $189.00 to $250.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Sanford C. Bernstein began coverage on Royal Caribbean Cruises in a research report on Tuesday, November 26th. They set an “outperform” rating and a $290.00 price target for the company. Finally, The Goldman Sachs Group boosted their target price on shares of Royal Caribbean Cruises from $245.00 to $275.00 and gave the company a “buy” rating in a report on Tuesday. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $237.13.

Royal Caribbean Cruises Trading Up 0.3 %

Shares of RCL stock traded up $0.74 on Wednesday, hitting $246.40. The company had a trading volume of 795,232 shares, compared to its average volume of 2,325,104. Royal Caribbean Cruises has a twelve month low of $113.10 and a twelve month high of $258.70. 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 stock’s 50-day moving average is $218.22 and its two-hundred day moving average is $180.34. The firm has a market cap of $66.25 billion, a P/E ratio of 25.32, a P/E/G ratio of 0.68 and a beta of 2.59.

Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly 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. Royal Caribbean Cruises had a return on equity of 52.92% and a net margin of 16.21%. The business had revenue of $4.89 billion for the quarter, compared to analyst estimates of $4.89 billion. During the same quarter in the prior year, the company earned $3.85 earnings per share. The company’s quarterly revenue was up 17.5% on a year-over-year basis. On average, equities research analysts anticipate that Royal Caribbean Cruises will post 11.65 earnings per share for the current fiscal year.

Insider Transactions at Royal Caribbean Cruises

In other news, EVP Harri U. Kulovaara sold 3,256 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $234.62, for a total value of $763,922.72. Following the sale, the executive vice president now owns 22,348 shares in the company, valued at $5,243,287.76. This represents a 12.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Arne Alexander Wilhelmsen sold 139,353 shares of Royal Caribbean Cruises stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $237.89, for a total value of $33,150,685.17. Following the completion of the sale, the director now directly owns 18,167,507 shares in the company, valued at $4,321,868,240.23. This represents a 0.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 404,332 shares of company stock worth $94,299,521. Insiders own 7.95% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of RCL. Oddo BHF Asset Management Sas purchased a new stake in shares of Royal Caribbean Cruises during the 3rd quarter worth approximately $1,447,000. American Trust acquired a new stake in shares of Royal Caribbean Cruises during the third quarter worth about $204,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Royal Caribbean Cruises in the 3rd quarter valued at about $109,000. World Investment Advisors LLC purchased a new stake in Royal Caribbean Cruises in the third quarter valued at approximately $7,107,000. Finally, Sanctuary Advisors LLC grew its position in shares of Royal Caribbean Cruises by 76.1% during the third quarter. Sanctuary Advisors LLC now owns 28,991 shares of the company’s stock worth $5,142,000 after acquiring an additional 12,530 shares during the last quarter. 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.