Royal Caribbean Cruises (NYSE:RCL) Stock Price Expected to Rise, Truist Financial Analyst Says

Royal Caribbean Cruises (NYSE:RCL) had its price target increased by Truist Financial from $204.00 to $272.00 in a research note released on Monday,Benzinga reports. The brokerage currently has a buy rating on the stock.

Other analysts also recently issued reports about the stock. Sanford C. Bernstein assumed coverage on shares of Royal Caribbean Cruises in a report on Tuesday, November 26th. They set an “outperform” rating and a $290.00 target price on the stock. Citigroup raised their price objective on shares of Royal Caribbean Cruises from $253.00 to $257.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Barclays upped their target price on shares of Royal Caribbean Cruises from $244.00 to $245.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Wells Fargo & Company lifted their price target on Royal Caribbean Cruises from $180.00 to $232.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, Morgan Stanley upped their price objective on Royal Caribbean Cruises from $140.00 to $154.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 7th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $228.63.

Royal Caribbean Cruises Stock Up 1.0 %

Shares of NYSE RCL opened at $246.41 on Monday. Royal Caribbean Cruises has a 52-week low of $110.66 and a 52-week high of $249.52. The company has a debt-to-equity ratio of 2.63, a quick ratio of 0.16 and a current ratio of 0.19. The stock has a market cap of $66.25 billion, a P/E ratio of 25.32, a P/E/G ratio of 0.64 and a beta of 2.59. The firm has a 50 day moving average price of $208.22 and a 200 day moving average price of $175.28.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings data on Tuesday, October 29th. The company reported $5.20 EPS for the quarter, beating analysts’ consensus estimates of $5.05 by $0.15. Royal Caribbean Cruises had a net margin of 16.21% and a return on equity of 52.92%. The business had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $4.89 billion. During the same quarter in the prior year, the company earned $3.85 EPS. The firm’s quarterly revenue was up 17.5% on a year-over-year basis. Analysts expect that Royal Caribbean Cruises will post 11.65 EPS for the current year.

Insider Transactions at Royal Caribbean Cruises

In related news, EVP Harri U. Kulovaara sold 3,256 shares of Royal Caribbean Cruises stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $234.62, for a total transaction of $763,922.72. Following the completion of the transaction, the executive vice president now owns 22,348 shares in the company, valued at approximately $5,243,287.76. This trade represents a 12.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Richard D. Fain sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $210.02, for a total value of $5,250,500.00. Following the completion of the sale, the director now owns 204,521 shares in the company, valued at $42,953,500.42. This represents a 10.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 404,332 shares of company stock worth $94,299,521 in the last 90 days. Corporate insiders own 7.95% of the company’s stock.

Hedge Funds Weigh In On Royal Caribbean Cruises

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RCL. Plato Investment Management Ltd acquired a new position in shares of Royal Caribbean Cruises in the third quarter valued at approximately $26,000. Safe Harbor Fiduciary LLC acquired a new position in Royal Caribbean Cruises in the 3rd quarter valued at $27,000. DiNuzzo Private Wealth Inc. increased its position in Royal Caribbean Cruises by 257.4% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 168 shares of the company’s stock worth $30,000 after buying an additional 121 shares during the period. Unique Wealth Strategies LLC acquired a new stake in shares of Royal Caribbean Cruises during the second quarter worth $27,000. Finally, LRI Investments LLC bought a new stake in shares of Royal Caribbean Cruises in the third quarter valued at about $31,000. 87.53% of the stock is owned by institutional investors.

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.