Morgan Stanley Raises Royal Caribbean Cruises (NYSE:RCL) Price Target to $210.00

Royal Caribbean Cruises (NYSE:RCL) had its price objective hoisted by equities researchers at Morgan Stanley from $190.00 to $210.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective indicates a potential downside of 6.63% from the stock’s previous close.

A number of other equities research analysts have also issued reports on RCL. Sanford C. Bernstein began coverage on Royal Caribbean Cruises in a research report on Tuesday, November 26th. They issued an “outperform” rating and a $290.00 price target for the company. Truist Financial lifted their price objective on shares of Royal Caribbean Cruises from $204.00 to $272.00 and gave the company a “buy” rating in a report on Monday, December 2nd. Barclays lifted their target price on Royal Caribbean Cruises from $245.00 to $287.00 and gave the company an “overweight” rating in a report on Friday, December 13th. StockNews.com upgraded Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a research note on Tuesday, November 26th. Finally, Citigroup boosted their price target on shares of Royal Caribbean Cruises from $257.00 to $283.00 and gave the stock a “buy” rating in a report on Wednesday, December 11th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $243.25.

Royal Caribbean Cruises Stock Performance

Shares of Royal Caribbean Cruises stock traded down $0.43 during trading on Wednesday, hitting $224.90. 368,524 shares of the company’s stock were exchanged, compared to its average volume of 1,557,553. The business has a 50-day simple moving average of $234.54 and a 200-day simple moving average of $192.14. The stock has a market capitalization of $60.47 billion, a price-to-earnings ratio of 23.11, a PEG ratio of 0.65 and a beta of 2.59. Royal Caribbean Cruises has a 52-week low of $113.10 and a 52-week high of $258.70. The company has a debt-to-equity ratio of 2.63, a quick ratio of 0.16 and a current ratio of 0.19.

Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $5.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.05 by $0.15. Royal Caribbean Cruises had a return on equity of 52.92% and a net margin of 16.21%. The company had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $4.89 billion. During the same period in the previous year, the company posted $3.85 earnings per share. Royal Caribbean Cruises’s revenue for the quarter was up 17.5% on a year-over-year basis. On average, research analysts forecast that Royal Caribbean Cruises will post 11.65 EPS for the current year.

Insiders Place Their Bets

In other news, Director Richard D. Fain sold 25,000 shares of the firm’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $210.02, for a total value of $5,250,500.00. Following the sale, the director now owns 204,521 shares in the company, valued at approximately $42,953,500.42. This trade represents a 10.89 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Arne Alexander Wilhelmsen sold 230,000 shares of the business’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 transaction, the director now owns 18,556,860 shares in the company, valued at $4,335,253,633.20. This represents a 1.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 404,332 shares of company stock worth $94,299,521. Company insiders own 7.95% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Plato Investment Management Ltd acquired a new position in shares of Royal Caribbean Cruises in the 3rd quarter valued at $26,000. Safe Harbor Fiduciary LLC bought a new position in Royal Caribbean Cruises in the third quarter valued at $27,000. DiNuzzo Private Wealth Inc. increased 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 last quarter. LRI Investments LLC bought a new stake in shares of Royal Caribbean Cruises during the 3rd quarter worth approximately $31,000. Finally, Meeder Asset Management Inc. lifted its stake in Royal Caribbean Cruises by 50.3% in the second quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock valued at $37,000 after acquiring an additional 78 shares during the last quarter. 87.53% of the stock is currently owned by institutional investors and hedge funds.

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.