Royal Caribbean Cruises (NYSE:RCL) Hits New 12-Month High on Analyst Upgrade

Royal Caribbean Cruises Ltd. (NYSE:RCL)’s share price reached a new 52-week high on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from $173.00 to $175.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Royal Caribbean Cruises traded as high as $158.09 and last traded at $157.43, with a volume of 165247 shares changing hands. The stock had previously closed at $154.52.

Other research analysts have also recently issued research reports about the company. Argus raised their price target on Royal Caribbean Cruises from $161.00 to $172.00 and gave the stock a “buy” rating in a research report on Wednesday, May 29th. Barclays boosted their target price on shares of Royal Caribbean Cruises from $154.00 to $165.00 and gave the company an “overweight” rating in a research report on Friday, April 26th. Wells Fargo & Company increased their price target on shares of Royal Caribbean Cruises from $159.00 to $165.00 and gave the stock an “overweight” rating in a research report on Friday, May 17th. Macquarie lifted their price objective on shares of Royal Caribbean Cruises from $145.00 to $160.00 and gave the company an “outperform” rating in a research note on Friday, March 15th. Finally, Mizuho upped their target price on Royal Caribbean Cruises from $164.00 to $168.00 and gave the stock a “buy” rating in a research note on Friday, April 26th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $156.31.

Insider Activity

In other news, CEO Jason T. Liberty sold 50,000 shares of the firm’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $139.63, for a total value of $6,981,500.00. Following the completion of the sale, the chief executive officer now directly owns 153,017 shares in the company, valued at approximately $21,365,763.71. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Royal Caribbean Cruises news, CAO Henry L. Pujol sold 9,944 shares of Royal Caribbean Cruises stock in a transaction dated 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 completion of the transaction, the chief accounting officer now owns 16,687 shares in the company, valued at approximately $2,356,705.01. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jason T. Liberty sold 50,000 shares of the business’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $139.63, for a total value of $6,981,500.00. Following the sale, the chief executive officer now directly owns 153,017 shares of the company’s stock, valued at $21,365,763.71. The disclosure for this sale can be found here. Insiders sold 152,884 shares of company stock worth $22,052,985 in the last quarter. 7.95% of the stock is owned by corporate insiders.

Institutional Trading of Royal Caribbean Cruises

Several institutional investors have recently made changes to their positions in the company. Norges Bank bought a new position in Royal Caribbean Cruises during the fourth quarter valued at $323,251,000. Eagle Asset Management Inc. purchased a new position in shares of Royal Caribbean Cruises in the fourth quarter worth about $79,392,000. Vanguard Group Inc. raised its position in shares of Royal Caribbean Cruises by 2.0% in the third quarter. Vanguard Group Inc. now owns 24,917,423 shares of the company’s stock valued at $2,295,891,000 after purchasing an additional 487,327 shares during the period. Vaughan Nelson Investment Management L.P. bought a new position in Royal Caribbean Cruises in the 1st quarter worth approximately $66,279,000. Finally, Junto Capital Management LP bought a new position in Royal Caribbean Cruises in the 4th quarter worth approximately $47,950,000. Institutional investors own 87.53% of the company’s stock.

Royal Caribbean Cruises Price Performance

The firm has a market cap of $41.05 billion, a P/E ratio of 19.91, a PEG ratio of 0.46 and a beta of 2.56. The business’s fifty day simple moving average is $144.78 and its 200-day simple moving average is $132.64. 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 data on Thursday, April 25th. The company reported $1.77 EPS for the quarter, beating the consensus estimate of $1.33 by $0.44. The company had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.69 billion. Royal Caribbean Cruises had a net margin of 14.28% and a return on equity of 51.54%. Royal Caribbean Cruises’s revenue for the quarter was up 29.2% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.23) earnings per share. As a group, analysts forecast that Royal Caribbean Cruises Ltd. will post 11.09 EPS for the current fiscal year.

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.