Royal Caribbean Cruises (NYSE:RCL) Reaches New 52-Week High on Analyst Upgrade

Royal Caribbean Cruises Ltd. (NYSE:RCL)’s stock price reached a new 52-week high during trading on Monday after Truist Financial raised their price target on the stock from $204.00 to $272.00. Truist Financial currently has a buy rating on the stock. Royal Caribbean Cruises traded as high as $249.00 and last traded at $248.14, with a volume of 109522 shares traded. The stock had previously closed at $244.06.

Several other research analysts have also commented on RCL. Bank of America increased their price target on shares of Royal Caribbean Cruises from $210.00 to $240.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. Macquarie increased their target price on shares of Royal Caribbean Cruises from $189.00 to $250.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Sanford C. Bernstein began coverage on Royal Caribbean Cruises in a research report on Tuesday, November 26th. They issued an “outperform” rating and a $290.00 price target for the company. JPMorgan Chase & Co. upped their price target on Royal Caribbean Cruises from $213.00 to $243.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 29th. Finally, Tigress Financial raised their price objective on Royal Caribbean Cruises from $210.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Royal Caribbean Cruises currently has a consensus rating of “Moderate Buy” and an average target price of $228.63.

Insider Activity at Royal Caribbean Cruises

In other news, EVP Harri U. Kulovaara sold 3,256 shares of the stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $234.62, for a total value 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 represents a 12.72 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Arne Alexander Wilhelmsen sold 139,353 shares of Royal Caribbean Cruises stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $237.89, for a total transaction of $33,150,685.17. Following the sale, the director now owns 18,167,507 shares in the company, valued at approximately $4,321,868,240.23. This trade represents a 0.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 404,332 shares of company stock worth $94,299,521. Company insiders own 7.95% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Plato Investment Management Ltd bought a new position in shares of Royal Caribbean Cruises during the 3rd quarter worth approximately $26,000. Safe Harbor Fiduciary LLC acquired a new position in Royal Caribbean Cruises during the third quarter worth $27,000. DiNuzzo Private Wealth Inc. lifted its holdings in shares of Royal Caribbean Cruises by 257.4% during the third quarter. DiNuzzo Private Wealth Inc. now owns 168 shares of the company’s stock valued at $30,000 after acquiring an additional 121 shares during the period. Unique Wealth Strategies LLC acquired a new stake in shares of Royal Caribbean Cruises in the 2nd quarter valued at $27,000. Finally, LRI Investments LLC bought a new stake in shares of Royal Caribbean Cruises in the 3rd quarter worth about $31,000. Institutional investors own 87.53% of the company’s stock.

Royal Caribbean Cruises Stock Down 0.2 %

The firm has a market cap of $66.11 billion, a price-to-earnings ratio of 25.27, a PEG ratio of 0.65 and a beta of 2.59. The business’s 50-day moving average is $210.95 and its 200-day moving average is $176.74. The company has a debt-to-equity ratio of 2.63, a quick ratio of 0.16 and a current ratio of 0.19.

Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $5.20 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $4.89 billion. During the same period in the prior year, the firm earned $3.85 earnings per share. The company’s quarterly revenue was up 17.5% compared to the same quarter last year. On average, equities analysts predict that Royal Caribbean Cruises Ltd. will post 11.64 EPS for the current 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.