Royal Caribbean Cruises (NYSE:RCL) Stock Price Expected to Rise, Citigroup Analyst Says

Royal Caribbean Cruises (NYSE:RCL) had its price target upped by Citigroup from $253.00 to $257.00 in a research note published on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

RCL has been the subject of several other research reports. Morgan Stanley lifted their target price on shares of Royal Caribbean Cruises from $140.00 to $154.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 7th. Truist Financial lifted their target price on shares of Royal Caribbean Cruises from $175.00 to $204.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. Susquehanna lifted their target price on shares of Royal Caribbean Cruises from $160.00 to $180.00 and gave the stock a “positive” rating in a report on Tuesday, July 30th. Bank of America lifted their target price on shares of Royal Caribbean Cruises from $205.00 to $210.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, The Goldman Sachs Group boosted their price objective on shares of Royal Caribbean Cruises from $220.00 to $245.00 and gave the company a “buy” rating in a report on Wednesday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $214.00.

Royal Caribbean Cruises Stock Down 0.8 %

Royal Caribbean Cruises stock opened at $208.34 on Wednesday. The firm has a market capitalization of $53.62 billion, a PE ratio of 22.72, a P/E/G ratio of 0.58 and a beta of 2.61. The company’s 50-day moving average is $179.29 and its 200-day moving average is $160.68. Royal Caribbean Cruises has a fifty-two week low of $83.25 and a fifty-two week high of $214.12. The company has a debt-to-equity ratio of 3.20, a current ratio of 0.19 and a quick ratio of 0.17.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings data on Tuesday, October 29th. The company reported $5.20 earnings per share for the quarter, topping the consensus estimate of $5.05 by $0.15. The company had revenue of $4.89 billion for the quarter, compared to analyst estimates of $4.89 billion. Royal Caribbean Cruises had a net margin of 16.32% and a return on equity of 52.49%. Royal Caribbean Cruises’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same period in the previous year, the business earned $3.85 EPS. Sell-side analysts anticipate that Royal Caribbean Cruises will post 11.61 earnings per share for the current year.

Insider Activity

In other news, CFO Naftali Holtz bought 5,350 shares of the company’s stock in a transaction dated Friday, August 2nd. The stock was bought at an average cost of $140.00 per share, for a total transaction of $749,000.00. Following the transaction, the chief financial officer now owns 48,256 shares of the company’s stock, valued at $6,755,840. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Vagn O. Sorensen sold 5,800 shares of the company’s stock in a transaction that occurred on 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 directly owns 25,837 shares in the company, valued at $4,095,164.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Naftali Holtz acquired 5,350 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were bought at an average price of $140.00 per share, with a total value of $749,000.00. Following the completion of the transaction, the chief financial officer now owns 48,256 shares in the company, valued at $6,755,840. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 7.95% of the company’s stock.

Hedge Funds Weigh In On Royal Caribbean Cruises

A number of institutional investors have recently added to or reduced their stakes in RCL. Unique Wealth Strategies LLC acquired a new position in Royal Caribbean Cruises during the 2nd quarter worth approximately $27,000. Versant Capital Management Inc increased its position in Royal Caribbean Cruises by 905.3% during the 2nd quarter. Versant Capital Management Inc now owns 191 shares of the company’s stock worth $30,000 after purchasing an additional 172 shares in the last quarter. DiNuzzo Private Wealth Inc. increased its position in Royal Caribbean Cruises by 257.4% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 168 shares of the company’s stock worth $30,000 after purchasing an additional 121 shares in the last quarter. AlphaMark Advisors LLC increased its position in Royal Caribbean Cruises by 233.3% during the 2nd quarter. AlphaMark Advisors LLC now owns 200 shares of the company’s stock worth $32,000 after purchasing an additional 140 shares in the last quarter. Finally, Meeder Asset Management Inc. increased its position in Royal Caribbean Cruises by 50.3% in the 2nd quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock valued at $37,000 after acquiring an additional 78 shares during the period. 87.53% of the stock is currently owned by institutional investors and hedge funds.

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.