Royal Caribbean Cruises (NYSE:RCL) Sets New 12-Month High Following Analyst Upgrade

Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) reached a new 52-week high during trading on Monday after Truist Financial raised their price target on the stock from $204.00 to $272.00. Truist Financial currently has a buy rating on the stock. Royal Caribbean Cruises traded as high as $249.00 and last traded at $248.14, with a volume of 109522 shares trading hands. The stock had previously closed at $244.06.

RCL has been the topic of a number of other research reports. Morgan Stanley boosted their price target on shares of Royal Caribbean Cruises from $140.00 to $154.00 and gave the company an “equal weight” rating in a report on Wednesday, August 7th. Barclays upped their price objective on shares of Royal Caribbean Cruises from $244.00 to $245.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Tigress Financial boosted their target price on shares of Royal Caribbean Cruises from $210.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. Bank of America boosted their target price on shares of Royal Caribbean Cruises from $210.00 to $240.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. Finally, StockNews.com raised shares of Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a research report on Tuesday, November 26th. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $228.63.

Insider Buying and Selling at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, Director Arne Alexander Wilhelmsen sold 230,000 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $233.62, for a total value of $53,732,600.00. Following the completion of the sale, the director now owns 18,556,860 shares in the company, valued at approximately $4,335,253,633.20. This trade represents a 1.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Harri U. Kulovaara sold 3,256 shares of the firm’s stock in a transaction dated Wednesday, November 20th. The shares were sold at an average price of $234.62, for a total transaction of $763,922.72. Following the completion of the sale, the executive vice president now owns 22,348 shares of the company’s stock, valued at $5,243,287.76. The trade was a 12.72 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 404,332 shares of company stock valued at $94,299,521 in the last ninety days. Company insiders own 7.95% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Wedge Capital Management L L P NC raised its holdings in Royal Caribbean Cruises by 2.6% during the 3rd quarter. Wedge Capital Management L L P NC now owns 289,518 shares of the company’s stock worth $51,349,000 after buying an additional 7,298 shares during the period. QRG Capital Management Inc. boosted its position in Royal Caribbean Cruises by 17.2% during the second quarter. QRG Capital Management Inc. now owns 38,613 shares of the company’s stock worth $6,156,000 after purchasing an additional 5,655 shares during the period. Souders Financial Advisors bought a new position in Royal Caribbean Cruises during the third quarter worth $800,000. Swiss National Bank boosted its position in Royal Caribbean Cruises by 0.5% during the third quarter. Swiss National Bank now owns 725,638 shares of the company’s stock worth $128,699,000 after purchasing an additional 3,800 shares during the period. Finally, New Wave Wealth Advisors LLC bought a new position in Royal Caribbean Cruises during the second quarter worth $611,000. Institutional investors own 87.53% of the company’s stock.

Royal Caribbean Cruises Stock Performance

The stock’s 50-day simple moving average is $208.22 and its 200 day simple moving average is $175.28. The stock has a market capitalization of $66.10 billion, a P/E ratio of 25.40, a PEG ratio of 0.64 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.

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. Royal Caribbean Cruises had a net margin of 16.21% and a return on equity of 52.92%. 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 earnings per share. Royal Caribbean Cruises’s revenue was up 17.5% compared to the same quarter last year. Research analysts expect that Royal Caribbean Cruises Ltd. will post 11.65 EPS for the current fiscal year.

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.