Royal Caribbean Cruises (NYSE:RCL) Given New $204.00 Price Target at Truist Financial

Royal Caribbean Cruises (NYSE:RCL) had its target price hoisted by equities researchers at Truist Financial from $175.00 to $204.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s price target indicates a potential upside of 11.78% from the company’s previous close.

A number of other equities analysts have also recently commented on the stock. Tigress Financial lifted their target price on shares of Royal Caribbean Cruises from $155.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Morgan Stanley boosted their price objective on shares of Royal Caribbean Cruises from $140.00 to $154.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 7th. Barclays boosted their price objective on shares of Royal Caribbean Cruises from $185.00 to $195.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Bank of America boosted their price objective on shares of Royal Caribbean Cruises from $145.00 to $172.00 and gave the company a “neutral” rating in a research report on Tuesday, July 23rd. Finally, Macquarie boosted their price objective on shares of Royal Caribbean Cruises from $165.00 to $189.00 and gave the company an “outperform” rating in a research report on Tuesday, July 30th. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, Royal Caribbean Cruises currently has a consensus rating of “Moderate Buy” and an average price target of $184.13.

Royal Caribbean Cruises Stock Performance

Shares of RCL stock traded up $5.09 during trading hours on Thursday, hitting $182.50. 393,556 shares of the company were exchanged, compared to its average volume of 2,463,371. The firm has a fifty day simple moving average of $160.78 and a 200 day simple moving average of $150.27. The company has a current ratio of 0.19, a quick ratio of 0.17 and a debt-to-equity ratio of 3.20. Royal Caribbean Cruises has a 52-week low of $78.35 and a 52-week high of $182.75. The stock has a market capitalization of $46.97 billion, a price-to-earnings ratio of 23.52, a P/E/G ratio of 0.50 and a beta of 2.61.

Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings results on Thursday, July 25th. The company reported $3.21 EPS for the quarter, beating the consensus estimate of $2.76 by $0.45. Royal Caribbean Cruises had a net margin of 16.32% and a return on equity of 52.49%. The firm had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.05 billion. During the same period last year, the firm earned $1.82 EPS. The business’s quarterly revenue was up 16.4% compared to the same quarter last year. Research analysts predict that Royal Caribbean Cruises will post 11.66 earnings per share for the current fiscal year.

Insider Activity at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, CFO Naftali Holtz acquired 5,350 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were acquired at an average price of $140.00 per share, with a total value of $749,000.00. Following the completion of the purchase, the chief financial officer now directly owns 48,256 shares of the company’s stock, valued at approximately $6,755,840. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Laura H. Bethge sold 3,073 shares of the business’s stock in a transaction dated 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 owns 27,388 shares of the company’s stock, valued at $4,620,629.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Naftali Holtz acquired 5,350 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The shares were acquired at an average cost of $140.00 per share, for a total transaction of $749,000.00. Following the purchase, the chief financial officer now directly owns 48,256 shares of the company’s stock, valued at $6,755,840. The disclosure for this purchase can be found here. 7.95% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Capital International Investors lifted its stake in shares of Royal Caribbean Cruises by 1.0% in the first quarter. Capital International Investors now owns 29,596,455 shares of the company’s stock worth $4,114,203,000 after buying an additional 286,868 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of Royal Caribbean Cruises by 0.5% in the first quarter. Vanguard Group Inc. now owns 25,409,272 shares of the company’s stock worth $3,532,143,000 after buying an additional 132,079 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Royal Caribbean Cruises by 24.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,048,501 shares of the company’s stock worth $326,616,000 after buying an additional 400,565 shares in the last quarter. D1 Capital Partners L.P. lifted its stake in shares of Royal Caribbean Cruises by 105.7% in the second quarter. D1 Capital Partners L.P. now owns 1,512,103 shares of the company’s stock worth $241,075,000 after buying an additional 777,103 shares in the last quarter. Finally, Eagle Asset Management Inc. bought a new position in shares of Royal Caribbean Cruises in the fourth quarter worth approximately $79,392,000. Institutional investors own 87.53% of the company’s stock.

Royal Caribbean Cruises Company Profile

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.