Royal Caribbean Cruises (NYSE:RCL) Hits New 52-Week High After Analyst Upgrade

Royal Caribbean Cruises Ltd. (NYSE:RCL) shares reached a new 52-week high on Monday after Stifel Nicolaus raised their price target on the stock from $200.00 to $230.00. Stifel Nicolaus currently has a buy rating on the stock. Royal Caribbean Cruises traded as high as $196.44 and last traded at $196.44, with a volume of 5659 shares. The stock had previously closed at $195.69.

A number of other research analysts also recently weighed in on RCL. Morgan Stanley increased their price target on Royal Caribbean Cruises from $140.00 to $154.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 7th. Susquehanna increased their target price on Royal Caribbean Cruises from $160.00 to $180.00 and gave the company a “positive” rating in a research note on Tuesday, July 30th. StockNews.com upgraded Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a report on Tuesday, September 24th. Mizuho upped their price target on Royal Caribbean Cruises from $168.00 to $195.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Finally, The Goldman Sachs Group lifted their price objective on shares of Royal Caribbean Cruises from $170.00 to $195.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $189.06.

Insider Activity at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, Director Vagn O. Sorensen sold 5,800 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $158.50, for a total transaction of $919,300.00. Following the completion of the transaction, the director now owns 25,837 shares in the company, valued at approximately $4,095,164.50. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Royal Caribbean Cruises news, Director Vagn O. Sorensen sold 5,800 shares of the business’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 value of $919,300.00. Following the sale, the director now owns 25,837 shares in the company, valued at approximately $4,095,164.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Naftali Holtz purchased 5,350 shares of Royal Caribbean Cruises stock in a transaction on Friday, August 2nd. The shares were purchased at an average cost of $140.00 per share, with a total value of $749,000.00. Following the transaction, the chief financial officer now owns 48,256 shares in the company, valued at approximately $6,755,840. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 7.95% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Royal Caribbean Cruises

Several institutional investors and hedge funds have recently added to or reduced their stakes in RCL. Scarborough Advisors LLC acquired a new stake in shares of Royal Caribbean Cruises in the fourth quarter valued at about $26,000. Unique Wealth Strategies LLC acquired a new position in shares of Royal Caribbean Cruises during the 2nd quarter worth approximately $27,000. Creekmur Asset Management LLC acquired a new position in shares of Royal Caribbean Cruises during the 4th quarter worth approximately $30,000. Versant Capital Management Inc raised its stake in shares of Royal Caribbean Cruises by 905.3% during the 2nd quarter. Versant Capital Management Inc now owns 191 shares of the company’s stock worth $30,000 after purchasing an additional 172 shares in the last quarter. Finally, AlphaMark Advisors LLC boosted its holdings in shares of Royal Caribbean Cruises by 233.3% in the 2nd quarter. AlphaMark Advisors LLC now owns 200 shares of the company’s stock valued at $32,000 after buying an additional 140 shares during the last quarter. 87.53% of the stock is owned by institutional investors.

Royal Caribbean Cruises Stock Up 0.4 %

The company has a debt-to-equity ratio of 3.20, a current ratio of 0.19 and a quick ratio of 0.17. The firm’s 50 day moving average is $166.77 and its two-hundred day moving average is $154.75. The firm has a market capitalization of $50.55 billion, a P/E ratio of 25.22, a PEG ratio of 0.55 and a beta of 2.61.

Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings data on Thursday, July 25th. The company reported $3.21 EPS for the quarter, beating analysts’ consensus estimates of $2.76 by $0.45. The company had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.05 billion. Royal Caribbean Cruises had a net margin of 16.32% and a return on equity of 52.49%. The company’s quarterly revenue was up 16.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.82 EPS. Research analysts predict that Royal Caribbean Cruises Ltd. will post 11.63 EPS for the current year.

Royal Caribbean Cruises Announces Dividend

The firm also recently disclosed a — dividend, which was paid on Friday, October 11th. Stockholders of record on Friday, September 20th were given a $0.40 dividend. The ex-dividend date was Friday, September 20th. Royal Caribbean Cruises’s payout ratio is 20.62%.

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.