JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Royal Caribbean Cruises (NYSE:RCL) Stock

Royal Caribbean Cruises (NYSE:RCLGet Free Report) had its price target upped by equities researchers at JPMorgan Chase & Co. from $253.00 to $295.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 22.01% from the stock’s current price.

Several other equities research analysts have also recently issued reports on RCL. Barclays raised their price objective on Royal Caribbean Cruises from $245.00 to $287.00 and gave the stock an “overweight” rating in a report on Friday, December 13th. Bank of America increased their target price on Royal Caribbean Cruises from $210.00 to $240.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. The Goldman Sachs Group lifted their target price on Royal Caribbean Cruises from $245.00 to $275.00 and gave the company a “buy” rating in a report on Tuesday, December 10th. Wells Fargo & Company lifted their target price on Royal Caribbean Cruises from $180.00 to $232.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, Tigress Financial lifted their target price on Royal Caribbean Cruises from $210.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $246.50.

Read Our Latest Research Report on Royal Caribbean Cruises

Royal Caribbean Cruises Price Performance

Shares of NYSE:RCL opened at $241.79 on Friday. The business’s fifty day moving average price is $237.34 and its two-hundred day moving average price is $195.67. The stock has a market cap of $65.01 billion, a PE ratio of 24.85, a price-to-earnings-growth ratio of 0.48 and a beta of 2.59. 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 has a one year low of $113.10 and a one year high of $258.70.

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

Insider Activity at Royal Caribbean Cruises

In other news, EVP Harri U. Kulovaara sold 3,256 shares of the company’s stock in a transaction that occurred on 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 directly owns 22,348 shares of the company’s stock, valued at approximately $5,243,287.76. This represents a 12.72 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Henry L. Pujol sold 6,723 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $208.51, for a total value of $1,401,812.73. Following the transaction, the chief accounting officer now owns 9,964 shares of the company’s stock, valued at approximately $2,077,593.64. This represents a 40.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 404,332 shares of company stock valued at $94,299,521 over the last three months. 7.95% of the stock is owned by insiders.

Hedge Funds Weigh In On Royal Caribbean Cruises

Hedge funds and other institutional investors have recently made changes to their positions in the business. D1 Capital Partners L.P. lifted its position in 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 purchasing an additional 777,103 shares during the period. International Assets Investment Management LLC lifted its position in Royal Caribbean Cruises by 10,599.0% in the third quarter. International Assets Investment Management LLC now owns 409,879 shares of the company’s stock worth $72,696,000 after purchasing an additional 406,048 shares during the period. Forest Avenue Capital Management LP acquired a new stake in Royal Caribbean Cruises in the second quarter worth approximately $35,038,000. Teachers Retirement System of The State of Kentucky lifted its position in Royal Caribbean Cruises by 809.6% in the second quarter. Teachers Retirement System of The State of Kentucky now owns 173,124 shares of the company’s stock worth $27,601,000 after purchasing an additional 154,090 shares during the period. Finally, Nomura Asset Management Co. Ltd. lifted its position in Royal Caribbean Cruises by 138.2% in the third quarter. Nomura Asset Management Co. Ltd. now owns 161,835 shares of the company’s stock worth $28,703,000 after purchasing an additional 93,899 shares during the period. 87.53% of the stock is currently owned by institutional investors and hedge funds.

About Royal Caribbean Cruises

(Get Free Report)

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.

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Analyst Recommendations for Royal Caribbean Cruises (NYSE:RCL)

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