Royal Caribbean Cruises (NYSE:RCL) Now Covered by Analysts at Jefferies Financial Group

Research analysts at Jefferies Financial Group started coverage on shares of Royal Caribbean Cruises (NYSE:RCL) in a research note issued to investors on Monday,Benzinga reports. The brokerage set a “hold” rating and a $230.00 price target on the stock. Jefferies Financial Group’s price target indicates a potential upside of 10.92% from the company’s current price.

RCL has been the subject of a number of other research reports. BNP Paribas assumed coverage on Royal Caribbean Cruises in a research note on Thursday. They issued an “outperform” rating and a $262.00 target price for the company. Loop Capital raised shares of Royal Caribbean Cruises from a “hold” rating to a “buy” rating and set a $250.00 price objective for the company in a research report on Wednesday, March 5th. The Goldman Sachs Group reduced their target price on shares of Royal Caribbean Cruises from $275.00 to $270.00 and set a “buy” rating on the stock in a research report on Friday, January 24th. Argus raised their price target on shares of Royal Caribbean Cruises from $280.00 to $305.00 and gave the company a “buy” rating in a report on Wednesday, January 29th. Finally, Wells Fargo & Company boosted their price objective on shares of Royal Caribbean Cruises from $232.00 to $272.00 and gave the stock an “overweight” rating in a report on Monday, January 27th. Four equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $279.58.

Royal Caribbean Cruises Trading Down 4.6 %

Shares of RCL opened at $207.35 on Monday. The stock’s fifty day simple moving average is $238.63 and its 200 day simple moving average is $224.15. Royal Caribbean Cruises has a twelve month low of $125.06 and a twelve month high of $277.08. The company has a current ratio of 0.17, a quick ratio of 0.15 and a debt-to-equity ratio of 2.39. The firm has a market capitalization of $55.80 billion, a P/E ratio of 19.40, a price-to-earnings-growth ratio of 0.90 and a beta of 2.53.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings data on Tuesday, January 28th. The company reported $1.63 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.13. Royal Caribbean Cruises had a return on equity of 48.97% and a net margin of 17.46%. During the same period last year, the company posted $1.25 EPS. On average, equities research analysts forecast that Royal Caribbean Cruises will post 14.9 earnings per share for the current year.

Royal Caribbean Cruises announced that its board has authorized a stock repurchase program on Wednesday, February 12th that allows the company to buyback $1.00 billion in outstanding shares. This buyback authorization allows the company to buy up to 1.5% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its shares are undervalued.

Insiders Place Their Bets

In other Royal Caribbean Cruises news, Director Richard D. Fain sold 19,500 shares of the firm’s stock in a transaction on Thursday, February 13th. The stock was sold at an average price of $256.68, for a total value of $5,005,260.00. Following the sale, the director now directly owns 185,021 shares in the company, valued at approximately $47,491,190.28. This trade represents a 9.53 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CFO Naftali Holtz sold 17,000 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $261.62, for a total transaction of $4,447,540.00. Following the transaction, the chief financial officer now owns 42,127 shares of the company’s stock, valued at $11,021,265.74. This represents a 28.75 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 109,492 shares of company stock valued at $28,571,705 over the last quarter. Insiders own 7.95% of the company’s stock.

Institutional Investors Weigh In On Royal Caribbean Cruises

Hedge funds have recently made changes to their positions in the business. Safe Harbor Fiduciary LLC acquired a new stake in Royal Caribbean Cruises in the 3rd quarter valued at approximately $27,000. Brown Brothers Harriman & Co. grew its stake in shares of Royal Caribbean Cruises by 618.8% in the fourth quarter. Brown Brothers Harriman & Co. now owns 115 shares of the company’s stock worth $27,000 after purchasing an additional 99 shares in the last quarter. LRI Investments LLC acquired a new position in shares of Royal Caribbean Cruises during the third quarter valued at $31,000. Fourth Dimension Wealth LLC bought a new stake in shares of Royal Caribbean Cruises during the fourth quarter valued at about $35,000. Finally, Bay Harbor Wealth Management LLC acquired a new stake in Royal Caribbean Cruises in the fourth quarter worth about $36,000. 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.