JPMorgan Chase & Co. Boosts Royal Caribbean Cruises (NYSE:RCL) Price Target to $175.00

Royal Caribbean Cruises (NYSE:RCL) had its target price hoisted by JPMorgan Chase & Co. from $173.00 to $175.00 in a research note issued to investors on Monday morning, Benzinga reports. They currently have an overweight rating on the stock.

Other analysts have also issued reports about the company. Macquarie boosted their price target on Royal Caribbean Cruises from $145.00 to $160.00 and gave the company an outperform rating in a report on Friday, March 15th. Argus boosted their price target on Royal Caribbean Cruises from $161.00 to $172.00 and gave the company a buy rating in a report on Wednesday, May 29th. UBS Group upped their target price on Royal Caribbean Cruises from $154.00 to $168.00 and gave the stock a buy rating in a report on Tuesday, May 14th. Truist Financial upped their target price on Royal Caribbean Cruises from $151.00 to $175.00 and gave the stock a buy rating in a report on Wednesday, May 29th. Finally, Wells Fargo & Company upped their target price on Royal Caribbean Cruises from $159.00 to $165.00 and gave the stock an overweight rating in a report on Friday, May 17th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and an average price target of $156.31.

Royal Caribbean Cruises Stock Performance

RCL stock opened at $154.52 on Monday. The firm has a market cap of $39.77 billion, a PE ratio of 19.91, a P/E/G ratio of 0.45 and a beta of 2.56. The business’s 50-day moving average price is $144.78 and its two-hundred day moving average price is $132.64. Royal Caribbean Cruises has a 1-year low of $78.35 and a 1-year high of $157.58. The company has a current ratio of 0.19, a quick ratio of 0.16 and a debt-to-equity ratio of 3.54.

Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings results on Thursday, April 25th. The company reported $1.77 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.44. The company had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.69 billion. Royal Caribbean Cruises had a return on equity of 51.54% and a net margin of 14.28%. The company’s quarterly revenue was up 29.2% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.23) earnings per share. As a group, research analysts forecast that Royal Caribbean Cruises will post 11.09 earnings per share for the current year.

Insider Buying and Selling

In related news, CAO Henry L. Pujol sold 9,944 shares of the stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $141.23, for a total transaction of $1,404,391.12. Following the sale, the chief accounting officer now owns 16,687 shares of the company’s stock, valued at $2,356,705.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Royal Caribbean Cruises news, Director Richard D. Fain sold 19,584 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $153.96, for a total transaction of $3,015,152.64. Following the completion of the sale, the director now directly owns 179,117 shares in the company, valued at $27,576,853.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Henry L. Pujol sold 9,944 shares of the company’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $141.23, for a total value of $1,404,391.12. Following the sale, the chief accounting officer now owns 16,687 shares of the company’s stock, valued at $2,356,705.01. The disclosure for this sale can be found here. Insiders have sold 152,884 shares of company stock valued at $22,052,985 over the last 90 days. 7.95% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Royal Caribbean Cruises

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BKM Wealth Management LLC bought a new stake in Royal Caribbean Cruises during the fourth quarter worth $26,000. Scarborough Advisors LLC bought a new stake in Royal Caribbean Cruises during the fourth quarter worth $26,000. Creekmur Asset Management LLC bought a new position in shares of Royal Caribbean Cruises in the 4th quarter valued at $30,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of Royal Caribbean Cruises in the 4th quarter valued at $33,000. Finally, West Branch Capital LLC lifted its stake in shares of Royal Caribbean Cruises by 50.0% in the 4th quarter. West Branch Capital LLC now owns 300 shares of the company’s stock valued at $39,000 after acquiring an additional 100 shares during the last quarter. 87.53% of the stock is currently owned by 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.