Royal Caribbean Cruises (NYSE:RCL) Given New $204.00 Price Target at Citigroup

Royal Caribbean Cruises (NYSE:RCL) had its price objective boosted by Citigroup from $165.00 to $204.00 in a research note issued to investors on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts have also recently commented on the company. Macquarie lifted their price target on Royal Caribbean Cruises from $145.00 to $160.00 and gave the stock an outperform rating in a report on Friday, March 15th. Argus boosted their price objective on Royal Caribbean Cruises from $161.00 to $172.00 and gave the stock a buy rating in a report on Wednesday, May 29th. The Goldman Sachs Group restated a buy rating on shares of Royal Caribbean Cruises in a report on Monday, April 1st. JPMorgan Chase & Co. boosted their price objective on Royal Caribbean Cruises from $173.00 to $175.00 and gave the stock an overweight rating in a report on Monday, June 24th. Finally, Truist Financial boosted their price objective on Royal Caribbean Cruises from $151.00 to $175.00 and gave the stock a buy rating in a report on Wednesday, May 29th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, Royal Caribbean Cruises currently has an average rating of Moderate Buy and a consensus target price of $161.13.

Royal Caribbean Cruises Trading Down 0.5 %

Royal Caribbean Cruises stock opened at $159.43 on Wednesday. Royal Caribbean Cruises has a 52 week low of $78.35 and a 52 week high of $162.50. The company has a debt-to-equity ratio of 3.54, a quick ratio of 0.16 and a current ratio of 0.19. The stock has a market capitalization of $41.03 billion, a P/E ratio of 20.55, a PEG ratio of 0.48 and a beta of 2.56. The stock has a 50-day simple moving average of $147.39 and a 200 day simple moving average of $133.67.

Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings results on Thursday, April 25th. The company reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.44. Royal Caribbean Cruises had a return on equity of 51.54% and a net margin of 14.28%. The business had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.69 billion. During the same quarter last year, the company posted ($0.23) earnings per share. Royal Caribbean Cruises’s quarterly revenue was up 29.2% on a year-over-year basis. Analysts expect that Royal Caribbean Cruises will post 11.1 earnings per share for the current year.

Insider Activity at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, CAO Henry L. Pujol sold 9,944 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $141.23, for a total transaction of $1,404,391.12. Following the completion of the transaction, the chief accounting officer now directly owns 16,687 shares in the company, valued at $2,356,705.01. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Royal Caribbean Cruises news, CEO Jason T. Liberty sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $139.63, for a total transaction of $6,981,500.00. Following the completion of the transaction, the chief executive officer now directly owns 153,017 shares in the company, valued at $21,365,763.71. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Henry L. Pujol sold 9,944 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $141.23, for a total transaction of $1,404,391.12. Following the transaction, the chief accounting officer now owns 16,687 shares of the company’s stock, valued at $2,356,705.01. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 152,884 shares of company stock worth $22,052,985. Company insiders own 7.95% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its position in Royal Caribbean Cruises by 67.1% during the first quarter. EverSource Wealth Advisors LLC now owns 1,158 shares of the company’s stock valued at $162,000 after purchasing an additional 465 shares in the last quarter. DekaBank Deutsche Girozentrale increased its holdings in shares of Royal Caribbean Cruises by 45.4% during the first quarter. DekaBank Deutsche Girozentrale now owns 49,649 shares of the company’s stock worth $6,951,000 after buying an additional 15,514 shares in the last quarter. Cetera Advisors LLC increased its holdings in shares of Royal Caribbean Cruises by 51.6% during the first quarter. Cetera Advisors LLC now owns 11,629 shares of the company’s stock worth $1,617,000 after buying an additional 3,958 shares in the last quarter. Cetera Investment Advisers increased its holdings in shares of Royal Caribbean Cruises by 162.4% during the first quarter. Cetera Investment Advisers now owns 48,241 shares of the company’s stock worth $6,706,000 after buying an additional 29,854 shares in the last quarter. Finally, Atria Investments Inc acquired a new position in shares of Royal Caribbean Cruises during the first quarter worth $1,190,000. 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.