Royal Caribbean Cruises (NYSE:RCL) Sets New 52-Week High – Still a Buy?

Royal Caribbean Cruises Ltd. (NYSE:RCL)’s share price reached a new 52-week high on Wednesday . The stock traded as high as $238.47 and last traded at $237.11, with a volume of 78678 shares changing hands. The stock had previously closed at $234.67.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on RCL. Mizuho upped their target price on Royal Caribbean Cruises from $168.00 to $195.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. UBS Group increased their price objective on Royal Caribbean Cruises from $168.00 to $183.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. JPMorgan Chase & Co. boosted their target price on shares of Royal Caribbean Cruises from $213.00 to $243.00 and gave the company an “overweight” rating in a report on Tuesday, October 29th. Morgan Stanley increased their price target on shares of Royal Caribbean Cruises from $140.00 to $154.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 7th. Finally, Truist Financial boosted their price objective on shares of Royal Caribbean Cruises from $175.00 to $204.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. 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. Based on data from MarketBeat, Royal Caribbean Cruises has a consensus rating of “Moderate Buy” and a consensus target price of $220.00.

Royal Caribbean Cruises Price Performance

The company has a quick ratio of 0.16, a current ratio of 0.19 and a debt-to-equity ratio of 2.63. The stock has a market cap of $63.35 billion, a P/E ratio of 24.12, a P/E/G ratio of 0.61 and a beta of 2.59. The firm has a 50 day moving average price of $196.62 and a 200 day moving average price of $169.67.

Royal Caribbean Cruises (NYSE:RCL) last released its earnings results on Tuesday, October 29th. The company reported $5.20 EPS for the quarter, topping analysts’ consensus estimates of $5.05 by $0.15. The company had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $4.89 billion. Royal Caribbean Cruises had a net margin of 16.21% and a return on equity of 52.92%. The firm’s revenue was up 17.5% compared to the same quarter last year. During the same quarter last year, the business earned $3.85 EPS. On average, analysts forecast that Royal Caribbean Cruises Ltd. will post 11.64 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CAO Henry L. Pujol sold 6,723 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $208.51, for a total value of $1,401,812.73. Following the transaction, the chief accounting officer now directly owns 9,964 shares of the company’s stock, valued at approximately $2,077,593.64. The trade was a 40.29 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Laura H. Bethge sold 3,073 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $168.71, for a total transaction of $518,445.83. Following the sale, the insider now directly owns 27,388 shares of the company’s stock, valued at approximately $4,620,629.48. This trade represents a 10.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,796 shares of company stock valued at $7,170,759. Company insiders own 7.95% of the company’s stock.

Hedge Funds Weigh In On Royal Caribbean Cruises

Several hedge funds have recently modified their holdings of the stock. Virtue Capital Management LLC bought a new stake in Royal Caribbean Cruises in the 3rd quarter valued at $210,000. Coldstream Capital Management Inc. grew its position in shares of Royal Caribbean Cruises by 9.5% during the third quarter. Coldstream Capital Management Inc. now owns 5,796 shares of the company’s stock valued at $1,053,000 after purchasing an additional 505 shares in the last quarter. Disciplined Growth Investors Inc. MN increased its holdings in shares of Royal Caribbean Cruises by 2.3% in the third quarter. Disciplined Growth Investors Inc. MN now owns 591,552 shares of the company’s stock worth $104,918,000 after purchasing an additional 13,520 shares during the last quarter. M&T Bank Corp lifted its position in shares of Royal Caribbean Cruises by 5.5% in the third quarter. M&T Bank Corp now owns 12,703 shares of the company’s stock worth $2,254,000 after buying an additional 664 shares in the last quarter. Finally, Continuum Advisory LLC boosted its stake in Royal Caribbean Cruises by 10.3% during the third quarter. Continuum Advisory LLC now owns 705 shares of the company’s stock valued at $125,000 after buying an additional 66 shares during the last quarter. Hedge funds and other 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.