JPMorgan Chase & Co. Boosts Royal Caribbean Cruises (NYSE:RCL) Price Target to $243.00

Royal Caribbean Cruises (NYSE:RCL) had its price target boosted by JPMorgan Chase & Co. from $213.00 to $243.00 in a research note published on Tuesday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Other analysts have also issued research reports about the company. Mizuho upped their target price on Royal Caribbean Cruises from $168.00 to $195.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. StockNews.com upgraded Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a report on Tuesday, September 24th. Citigroup upped their target price on Royal Caribbean Cruises from $204.00 to $253.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Bank of America upped their target price on Royal Caribbean Cruises from $145.00 to $172.00 and gave the stock a “neutral” rating in a report on Tuesday, July 23rd. Finally, UBS Group upped their target price on Royal Caribbean Cruises from $168.00 to $183.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $214.00.

Royal Caribbean Cruises Stock Down 1.0 %

RCL stock opened at $206.35 on Tuesday. The company has a debt-to-equity ratio of 2.63, a current ratio of 0.19 and a quick ratio of 0.17. The stock has a market capitalization of $55.48 billion, a P/E ratio of 21.21, a P/E/G ratio of 0.61 and a beta of 2.61. The business has a 50-day moving average of $180.26 and a 200-day moving average of $161.00. Royal Caribbean Cruises has a fifty-two week low of $83.25 and a fifty-two week high of $214.12.

Royal Caribbean Cruises (NYSE:RCL) last posted 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 during the quarter, compared to analysts’ expectations of $4.89 billion. Royal Caribbean Cruises had a return on equity of 52.92% and a net margin of 16.21%. 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 prior year, the firm earned $3.85 earnings per share. On average, sell-side analysts anticipate that Royal Caribbean Cruises will post 11.6 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Laura H. Bethge sold 3,073 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $168.71, for a total value of $518,445.83. Following the transaction, the insider now owns 27,388 shares of the company’s stock, valued at approximately $4,620,629.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, Director Vagn O. Sorensen sold 5,800 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $158.50, for a total transaction of $919,300.00. Following the sale, the director now owns 25,837 shares of the company’s stock, valued at $4,095,164.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Laura H. Bethge sold 3,073 shares of the stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $168.71, for a total value of $518,445.83. Following the sale, the insider now directly owns 27,388 shares in the company, valued at $4,620,629.48. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 7.95% of the stock is owned by company insiders.

Institutional Investors Weigh In On Royal Caribbean Cruises

A number of large investors have recently added to or reduced their stakes in RCL. FSM Wealth Advisors LLC boosted its holdings in shares of Royal Caribbean Cruises by 3.2% in the 3rd quarter. FSM Wealth Advisors LLC now owns 1,636 shares of the company’s stock valued at $290,000 after purchasing an additional 51 shares in the last quarter. Venture Visionary Partners LLC boosted its holdings in shares of Royal Caribbean Cruises by 4.8% in the 3rd quarter. Venture Visionary Partners LLC now owns 1,366 shares of the company’s stock valued at $242,000 after purchasing an additional 62 shares in the last quarter. Ignite Planners LLC boosted its holdings in shares of Royal Caribbean Cruises by 4.3% in the 3rd quarter. Ignite Planners LLC now owns 1,856 shares of the company’s stock valued at $329,000 after purchasing an additional 77 shares in the last quarter. Meeder Asset Management Inc. boosted its holdings in shares of 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 purchasing an additional 78 shares in the last quarter. Finally, Oppenheimer Asset Management Inc. boosted its holdings in shares of Royal Caribbean Cruises by 1.0% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 8,095 shares of the company’s stock valued at $1,291,000 after purchasing an additional 81 shares in the last quarter. Institutional investors and hedge funds 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.