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

Royal Caribbean Cruises (NYSE:RCL) had its price target boosted by Citigroup from $253.00 to $257.00 in a research report report published on Wednesday, Benzinga reports. They currently have a buy rating on the stock.

Several other analysts have also issued reports on RCL. Stifel Nicolaus increased their target price on shares of Royal Caribbean Cruises from $200.00 to $230.00 and gave the company a “buy” rating in a report on Friday, October 11th. Bank of America increased their price objective on shares of Royal Caribbean Cruises from $205.00 to $210.00 and gave the company a “neutral” rating in a research note on Wednesday. Truist Financial boosted their target price on Royal Caribbean Cruises from $175.00 to $204.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Macquarie increased their price target on Royal Caribbean Cruises from $165.00 to $189.00 and gave the company an “outperform” rating in a research report on Tuesday, July 30th. Finally, Morgan Stanley boosted their price objective on Royal Caribbean Cruises from $140.00 to $154.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Royal Caribbean Cruises has an average rating of “Moderate Buy” and an average price target of $214.00.

Royal Caribbean Cruises Price Performance

Shares of NYSE RCL opened at $202.06 on Wednesday. The stock has a market cap of $54.33 billion, a price-to-earnings ratio of 20.77, a PEG ratio of 0.54 and a beta of 2.59. The company has a debt-to-equity ratio of 2.63, a quick ratio of 0.17 and a current ratio of 0.19. Royal Caribbean Cruises has a fifty-two week low of $86.75 and a fifty-two week high of $214.12. The firm’s 50-day simple moving average is $181.04 and its 200 day simple moving average is $161.77.

Royal Caribbean Cruises (NYSE:RCL) last announced 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 return on equity of 52.92% and a net margin of 16.21%. The company had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $4.89 billion. During the same quarter in the previous year, the firm earned $3.85 earnings per share. Royal Caribbean Cruises’s quarterly revenue was up 17.5% on a year-over-year basis. As a group, research analysts anticipate that Royal Caribbean Cruises will post 11.66 earnings per share for the current fiscal year.

Insider Activity

In other Royal Caribbean Cruises news, Director Vagn O. Sorensen sold 5,800 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $158.50, for a total transaction of $919,300.00. Following the sale, the director now owns 25,837 shares of the company’s stock, valued at $4,095,164.50. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other news, CAO Henry L. Pujol sold 6,723 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $208.51, for a total value of $1,401,812.73. Following the completion of the transaction, the chief accounting officer now directly owns 9,964 shares in the company, valued at approximately $2,077,593.64. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 sale, the director now directly owns 25,837 shares in the company, valued at $4,095,164.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 40,596 shares of company stock valued at $8,090,059 over the last quarter. Company insiders own 7.95% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. 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 worth $290,000 after purchasing an additional 51 shares in the last quarter. Venture Visionary Partners LLC grew its stake in Royal Caribbean Cruises by 4.8% in the 3rd quarter. Venture Visionary Partners LLC now owns 1,366 shares of the company’s stock worth $242,000 after buying an additional 62 shares in the last quarter. Ignite Planners LLC grew its stake in Royal Caribbean Cruises by 4.3% in the 3rd quarter. Ignite Planners LLC now owns 1,856 shares of the company’s stock worth $329,000 after buying an additional 77 shares in the last quarter. Meeder Asset Management Inc. increased its holdings in shares of Royal Caribbean Cruises by 50.3% in the 2nd quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock worth $37,000 after buying an additional 78 shares during the last quarter. Finally, Oppenheimer Asset Management Inc. raised its position in shares of Royal Caribbean Cruises by 1.0% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 8,095 shares of the company’s stock valued at $1,291,000 after buying an additional 81 shares in the last quarter. 87.53% of the stock is currently owned by hedge funds and other institutional investors.

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.