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

Royal Caribbean Cruises Ltd. (NYSE:RCL) hit a new 52-week high during mid-day trading on Monday after JPMorgan Chase & Co. raised their price target on the stock from $210.00 to $213.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Royal Caribbean Cruises traded as high as $173.40 and last traded at $171.54, with a volume of 273544 shares trading hands. The stock had previously closed at $167.96.

RCL has been the topic of several other research reports. Mizuho lifted their price target on Royal Caribbean Cruises from $168.00 to $195.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Citigroup upped their target price on shares of Royal Caribbean Cruises from $165.00 to $204.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. Bank of America lifted their target price on shares of Royal Caribbean Cruises from $145.00 to $172.00 and gave the company a “neutral” rating in a report on Tuesday, July 23rd. Barclays lifted their target price on Royal Caribbean Cruises from $185.00 to $195.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Finally, Truist Financial increased their target price on shares of Royal Caribbean Cruises from $151.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday, May 29th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, Royal Caribbean Cruises currently has a consensus rating of “Moderate Buy” and a consensus price target of $182.31.

Insider Transactions at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, CFO Naftali Holtz bought 5,350 shares of Royal Caribbean Cruises stock in a transaction dated Friday, August 2nd. The stock was acquired at an average cost of $140.00 per share, with a total value of $749,000.00. Following the completion of the acquisition, the chief financial officer now owns 48,256 shares of the company’s stock, valued at $6,755,840. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Royal Caribbean Cruises news, Director Vagn O. Sorensen sold 5,800 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $158.50, for a total transaction of $919,300.00. Following the transaction, the director now owns 25,837 shares in the company, valued at approximately $4,095,164.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 acquisition, 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. Insiders own 7.95% of the company’s stock.

Institutional Trading of Royal Caribbean Cruises

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Meeder Asset Management Inc. increased its holdings in Royal Caribbean Cruises by 50.3% during the 2nd quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock valued at $37,000 after acquiring an additional 78 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its stake in shares of Royal Caribbean Cruises by 1.0% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 8,095 shares of the company’s stock worth $1,291,000 after purchasing an additional 81 shares during the last quarter. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Royal Caribbean Cruises by 38.9% during the second quarter. Whittier Trust Co. of Nevada Inc. now owns 293 shares of the company’s stock worth $47,000 after buying an additional 82 shares in the last quarter. Parallel Advisors LLC lifted its stake in shares of Royal Caribbean Cruises by 3.9% during the 2nd quarter. Parallel Advisors LLC now owns 2,213 shares of the company’s stock worth $353,000 after purchasing an additional 84 shares during the period. Finally, Kowal Investment Group LLC boosted its stake in Royal Caribbean Cruises by 4.0% in the 1st quarter. Kowal Investment Group LLC now owns 2,286 shares of the company’s stock worth $318,000 after buying an additional 87 shares during the last quarter. Institutional investors and hedge funds own 87.53% of the company’s stock.

Royal Caribbean Cruises Price Performance

The firm has a market capitalization of $43.69 billion, a price-to-earnings ratio of 21.88, a PEG ratio of 0.47 and a beta of 2.61. The company’s 50-day moving average is $159.92 and its 200-day moving average is $148.27. The company has a debt-to-equity ratio of 3.20, a current ratio of 0.19 and a quick ratio of 0.17.

Royal Caribbean Cruises (NYSE:RCL) last issued its earnings results on Thursday, July 25th. The company reported $3.21 earnings per share for the quarter, topping the consensus estimate of $2.76 by $0.45. Royal Caribbean Cruises had a return on equity of 52.49% and a net margin of 16.32%. The business had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.05 billion. During the same period last year, the company posted $1.82 EPS. The business’s quarterly revenue was up 16.4% on a year-over-year basis. On average, research analysts expect that Royal Caribbean Cruises Ltd. will post 11.65 earnings per share for the current year.

Royal Caribbean Cruises Announces Dividend

The firm also recently declared a — dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 20th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, September 20th.

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.