Royal Caribbean Cruises (NYSE:RCL) Price Target Raised to $257.00 at Citigroup

Royal Caribbean Cruises (NYSE:RCL) had its target price hoisted by investment analysts at Citigroup from $253.00 to $257.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has a “buy” rating on the stock. Citigroup’s target price would indicate a potential upside of 24.55% from the stock’s current price.

Several other research analysts also recently issued reports on the stock. Susquehanna upped their target price on shares of Royal Caribbean Cruises from $160.00 to $180.00 and gave the stock a “positive” rating in a research note on Tuesday, July 30th. Mizuho upped their target price on shares of Royal Caribbean Cruises from $168.00 to $195.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. 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 report on Tuesday, July 30th. Truist Financial boosted their price objective on shares of Royal Caribbean Cruises from $175.00 to $204.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Finally, The Goldman Sachs Group boosted their price objective on shares of Royal Caribbean Cruises from $220.00 to $245.00 and gave the company a “buy” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $214.00.

Royal Caribbean Cruises Price Performance

Shares of NYSE:RCL opened at $206.35 on Wednesday. The company’s fifty day moving average is $180.26 and its 200 day moving average is $161.00. Royal Caribbean Cruises has a 52 week low of $83.25 and a 52 week high of $214.12. The stock has a market cap of $53.10 billion, a PE ratio of 22.50, a PEG ratio of 0.58 and a beta of 2.61. The company has a quick ratio of 0.17, a current ratio of 0.19 and a debt-to-equity ratio of 3.20.

Royal Caribbean Cruises (NYSE:RCL) last announced its earnings results on Tuesday, October 29th. The company reported $5.20 earnings per share 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 analyst estimates of $4.89 billion. Royal Caribbean Cruises had a net margin of 16.32% and a return on equity of 52.49%. The company’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.85 EPS. Research analysts anticipate that Royal Caribbean Cruises will post 11.61 earnings per share for the current year.

Insider Buying and Selling at Royal Caribbean Cruises

In other news, insider Laura H. Bethge sold 3,073 shares of the firm’s stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $168.71, for a total value of $518,445.83. Following the sale, the insider now directly owns 27,388 shares in the company, valued at approximately $4,620,629.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Royal Caribbean Cruises news, insider Laura H. Bethge sold 3,073 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $168.71, for a total transaction of $518,445.83. Following the completion of the transaction, the insider now directly owns 27,388 shares of the company’s stock, valued at approximately $4,620,629.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Vagn O. Sorensen sold 5,800 shares of Royal Caribbean Cruises stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $158.50, for a total transaction of $919,300.00. Following the transaction, the director now directly owns 25,837 shares of the company’s stock, valued at approximately $4,095,164.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 7.95% of the company’s stock.

Institutional Investors Weigh In On Royal Caribbean Cruises

Several institutional investors and hedge funds have recently added to or reduced their stakes in RCL. Unique Wealth Strategies LLC acquired a new stake in Royal Caribbean Cruises during the 2nd quarter worth $27,000. Versant Capital Management Inc increased its stake in shares of Royal Caribbean Cruises by 905.3% during the second quarter. Versant Capital Management Inc now owns 191 shares of the company’s stock worth $30,000 after buying an additional 172 shares during the period. DiNuzzo Private Wealth Inc. boosted its holdings in Royal Caribbean Cruises by 257.4% in the third quarter. DiNuzzo Private Wealth Inc. now owns 168 shares of the company’s stock valued at $30,000 after purchasing an additional 121 shares in the last quarter. AlphaMark Advisors LLC boosted its holdings in Royal Caribbean Cruises by 233.3% in the second quarter. AlphaMark Advisors LLC now owns 200 shares of the company’s stock valued at $32,000 after purchasing an additional 140 shares in the last quarter. Finally, Meeder Asset Management Inc. boosted its holdings in Royal Caribbean Cruises by 50.3% in the second quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock valued at $37,000 after purchasing an additional 78 shares in the last quarter. Hedge funds and other institutional investors own 87.53% of the company’s stock.

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.