Royal Caribbean Cruises (NYSE:RCL) Price Target Raised to $257.00 at Citigroup

Royal Caribbean Cruises (NYSE:RCL) had its price target hoisted by Citigroup from $253.00 to $257.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price target points to a potential upside of 22.74% from the stock’s previous close.

A number of other equities research analysts have also recently commented on the stock. Macquarie increased their price objective on shares of Royal Caribbean Cruises from $165.00 to $189.00 and gave the company an “outperform” rating in a research note on Tuesday, July 30th. The Goldman Sachs Group raised their price target on shares of Royal Caribbean Cruises from $220.00 to $245.00 and gave the company a “buy” rating in a report on Wednesday. Stifel Nicolaus lifted their price objective on shares of Royal Caribbean Cruises from $200.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Tigress Financial raised their price target on shares of Royal Caribbean Cruises from $155.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Finally, StockNews.com raised shares of Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a report on Tuesday, September 24th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $209.93.

Royal Caribbean Cruises Stock Down 0.3 %

Shares of Royal Caribbean Cruises stock traded down $0.71 during trading hours on Wednesday, hitting $209.39. The company had a trading volume of 2,123,607 shares, compared to its average volume of 2,395,889. The company’s 50-day moving average is $178.28 and its two-hundred day moving average is $160.35. Royal Caribbean Cruises has a twelve month low of $83.25 and a twelve month 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. The company has a market cap of $53.89 billion, a P/E ratio of 22.88, a price-to-earnings-growth ratio of 0.58 and a beta of 2.61.

Royal Caribbean Cruises (NYSE:RCL) last issued its earnings results on Tuesday, October 29th. The company reported $5.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.05 by $0.15. Royal Caribbean Cruises had a net margin of 16.32% and a return on equity of 52.49%. The business had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $4.89 billion. During the same quarter in the prior year, the business posted $3.85 EPS. The company’s revenue for the quarter was up 17.5% on a year-over-year basis. Analysts anticipate that Royal Caribbean Cruises will post 11.61 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, 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 transaction, the insider now owns 27,388 shares in the company, 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 filing with the SEC, which is accessible through this link. In other Royal Caribbean Cruises news, Director Vagn O. Sorensen sold 5,800 shares of the company’s 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 completion of 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 document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 sale, the insider now directly owns 27,388 shares of the company’s stock, valued at $4,620,629.48. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 7.95% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Royal Caribbean Cruises

Large investors have recently added to or reduced their stakes in the stock. Unique Wealth Strategies LLC bought a new stake in Royal Caribbean Cruises during the second quarter worth approximately $27,000. Versant Capital Management Inc boosted its position in shares of Royal Caribbean Cruises by 905.3% in the second quarter. Versant Capital Management Inc now owns 191 shares of the company’s stock valued at $30,000 after acquiring an additional 172 shares during the period. DiNuzzo Private Wealth Inc. boosted its position in shares of Royal Caribbean Cruises by 257.4% in the third quarter. DiNuzzo Private Wealth Inc. now owns 168 shares of the company’s stock valued at $30,000 after acquiring an additional 121 shares during the period. AlphaMark Advisors LLC raised its stake in shares of Royal Caribbean Cruises by 233.3% in the second quarter. AlphaMark Advisors LLC now owns 200 shares of the company’s stock valued at $32,000 after purchasing an additional 140 shares in the last quarter. Finally, Meeder Asset Management Inc. raised its stake in Royal Caribbean Cruises by 50.3% during the second quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock worth $37,000 after acquiring an additional 78 shares in the last quarter. Institutional investors own 87.53% of the company’s stock.

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.