Royal Caribbean Cruises (NYSE:RCL) Sets New 1-Year High on Analyst Upgrade

Royal Caribbean Cruises Ltd. (NYSE:RCL) shares reached a new 52-week high during mid-day trading on Monday after The Goldman Sachs Group raised their price target on the stock from $245.00 to $275.00. The Goldman Sachs Group currently has a buy rating on the stock. Royal Caribbean Cruises traded as high as $260.00 and last traded at $260.00, with a volume of 1156 shares. The stock had previously closed at $258.09.

Other research analysts have also recently issued reports about the stock. Sanford C. Bernstein began coverage on shares of Royal Caribbean Cruises in a research report on Tuesday, November 26th. They set an “outperform” rating and a $290.00 price target for the company. Wells Fargo & Company boosted their price target on Royal Caribbean Cruises from $180.00 to $232.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Bank of America raised their price objective on Royal Caribbean Cruises from $210.00 to $240.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Truist Financial raised their price objective on Royal Caribbean Cruises from $204.00 to $272.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. Finally, Stifel Nicolaus raised their price objective on Royal Caribbean Cruises from $250.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, Royal Caribbean Cruises has a consensus rating of “Moderate Buy” and an average price target of $235.50.

Insider Activity at Royal Caribbean Cruises

In other news, Director Arne Alexander Wilhelmsen sold 139,353 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $237.89, for a total value of $33,150,685.17. Following the transaction, the director now directly owns 18,167,507 shares in the company, valued at $4,321,868,240.23. The trade was a 0.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Henry L. Pujol sold 6,723 shares of the business’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $208.51, for a total value of $1,401,812.73. Following the completion of the transaction, the chief accounting officer now owns 9,964 shares in the company, valued at $2,077,593.64. The trade was a 40.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 404,332 shares of company stock worth $94,299,521. Corporate insiders own 7.95% of the company’s stock.

Hedge Funds Weigh In On Royal Caribbean Cruises

Several large investors have recently made changes to their positions in the business. Envestnet Portfolio Solutions Inc. increased its holdings in shares of Royal Caribbean Cruises by 20.2% in the second quarter. Envestnet Portfolio Solutions Inc. now owns 8,215 shares of the company’s stock worth $1,310,000 after purchasing an additional 1,381 shares during the last quarter. SteelPeak Wealth LLC increased its holdings in shares of Royal Caribbean Cruises by 3.0% in the second quarter. SteelPeak Wealth LLC now owns 5,193 shares of the company’s stock worth $828,000 after purchasing an additional 150 shares during the last quarter. AlphaMark Advisors LLC increased its holdings in shares of Royal Caribbean Cruises by 233.3% in the second quarter. AlphaMark Advisors LLC now owns 200 shares of the company’s stock worth $32,000 after purchasing an additional 140 shares during the last quarter. Swedbank AB bought a new stake in shares of Royal Caribbean Cruises in the second quarter worth about $402,000. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Royal Caribbean Cruises by 17.9% in the second quarter. Assenagon Asset Management S.A. now owns 5,201 shares of the company’s stock worth $829,000 after purchasing an additional 789 shares during the last quarter. 87.53% of the stock is currently owned by hedge funds and other institutional investors.

Royal Caribbean Cruises Stock Down 0.6 %

The company has a quick ratio of 0.16, a current ratio of 0.19 and a debt-to-equity ratio of 2.63. The company has a fifty day moving average price of $216.77 and a 200-day moving average price of $179.65. The stock has a market capitalization of $66.04 billion, a P/E ratio of 25.25, a PEG ratio of 0.68 and a beta of 2.59.

Royal Caribbean Cruises (NYSE:RCL) last issued its earnings results on Tuesday, October 29th. The company reported $5.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.05 by $0.15. Royal Caribbean Cruises had a return on equity of 52.92% and a net margin of 16.21%. 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 previous year, the firm posted $3.85 earnings per share. The business’s revenue was up 17.5% compared to the same quarter last year. As a group, research analysts forecast that Royal Caribbean Cruises Ltd. will post 11.65 EPS for the current fiscal year.

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.