Royal Caribbean Cruises (NYSE:RCL) Price Target Raised to $300.00

Royal Caribbean Cruises (NYSE:RCL) had its price target lifted by investment analysts at Macquarie from $250.00 to $300.00 in a research note issued on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Macquarie’s price target indicates a potential upside of 10.62% from the stock’s current price.

A number of other equities analysts have also recently issued reports on the company. Susquehanna boosted their target price on Royal Caribbean Cruises from $245.00 to $305.00 and gave the stock a “positive” rating in a research report on Wednesday. Wells Fargo & Company upped their price objective on shares of Royal Caribbean Cruises from $232.00 to $272.00 and gave the company an “overweight” rating in a research note on Monday. Barclays boosted their price target on shares of Royal Caribbean Cruises from $287.00 to $308.00 and gave the company an “overweight” rating in a report on Wednesday. Bank of America raised their price objective on shares of Royal Caribbean Cruises from $210.00 to $240.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. Finally, Stifel Nicolaus raised their target price on Royal Caribbean Cruises from $250.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, December 6th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $274.19.

Royal Caribbean Cruises Stock Performance

Shares of RCL stock traded up $2.10 during mid-day trading on Thursday, hitting $271.19. The stock had a trading volume of 529,676 shares, compared to its average volume of 2,390,450. The firm has a market cap of $72.92 billion, a PE ratio of 27.89, a PEG ratio of 0.50 and a beta of 2.59. The company has a debt-to-equity ratio of 2.63, a current ratio of 0.19 and a quick ratio of 0.16. The company’s 50-day simple moving average is $239.12 and its 200-day simple moving average is $200.69. Royal Caribbean Cruises has a fifty-two week low of $113.10 and a fifty-two week high of $272.00.

Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $1.63 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.50 by $0.13. Royal Caribbean Cruises had a return on equity of 52.92% and a net margin of 16.21%. During the same period last year, the business posted $1.25 EPS. Sell-side analysts anticipate that Royal Caribbean Cruises will post 11.66 earnings per share for the current year.

Insiders Place Their Bets

In other Royal Caribbean Cruises news, EVP Harri U. Kulovaara sold 3,256 shares of the business’s stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $234.62, for a total transaction of $763,922.72. Following the sale, the executive vice president now owns 22,348 shares of the company’s stock, valued at approximately $5,243,287.76. The trade was a 12.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Arne Alexander Wilhelmsen sold 230,000 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $233.62, for a total transaction of $53,732,600.00. Following the sale, the director now owns 18,556,860 shares of the company’s stock, valued at approximately $4,335,253,633.20. This trade represents a 1.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 372,609 shares of company stock worth $87,647,208 over the last ninety days. 7.95% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Royal Caribbean Cruises

Large investors have recently bought and sold shares of the stock. Hemington Wealth Management boosted its holdings in Royal Caribbean Cruises by 9.0% in the fourth quarter. Hemington Wealth Management now owns 533 shares of the company’s stock worth $123,000 after acquiring an additional 44 shares in the last quarter. Fifth Third Wealth Advisors LLC grew its position in Royal Caribbean Cruises by 2.2% in the 4th quarter. Fifth Third Wealth Advisors LLC now owns 2,360 shares of the company’s stock valued at $544,000 after purchasing an additional 50 shares during the period. Bartlett & CO. Wealth Management LLC increased its stake in Royal Caribbean Cruises by 12.3% during the 4th quarter. Bartlett & CO. Wealth Management LLC now owns 457 shares of the company’s stock valued at $106,000 after purchasing an additional 50 shares in the last quarter. DT Investment Partners LLC raised its holdings in Royal Caribbean Cruises by 16.7% during the fourth quarter. DT Investment Partners LLC now owns 350 shares of the company’s stock worth $81,000 after buying an additional 50 shares during the last quarter. Finally, FSM Wealth Advisors LLC grew its holdings in shares of Royal Caribbean Cruises by 3.2% during the third quarter. FSM Wealth Advisors LLC now owns 1,636 shares of the company’s stock valued at $290,000 after buying an additional 51 shares during the last quarter. 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.