Royal Caribbean Cruises (NYSE:RCL) Stock Price Expected to Rise, Bank of America Analyst Says

Royal Caribbean Cruises (NYSE:RCL) had its price target increased by Bank of America from $210.00 to $240.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a neutral rating on the stock.

A number of other research analysts have also commented on RCL. Truist Financial boosted their price target on shares of Royal Caribbean Cruises from $175.00 to $204.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Stifel Nicolaus upped their target price on Royal Caribbean Cruises from $200.00 to $230.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Susquehanna raised their price target on Royal Caribbean Cruises from $160.00 to $180.00 and gave the company a “positive” rating in a report on Tuesday, July 30th. Citigroup boosted their price objective on Royal Caribbean Cruises from $253.00 to $257.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Mizuho upped their price objective on shares of Royal Caribbean Cruises from $168.00 to $195.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Royal Caribbean Cruises presently has a consensus rating of “Moderate Buy” and an average target price of $220.00.

Royal Caribbean Cruises Price Performance

Shares of NYSE RCL opened at $231.49 on Wednesday. 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 fifty-two week low of $101.04 and a fifty-two week high of $238.10. The stock has a market cap of $62.24 billion, a PE ratio of 23.79, a price-to-earnings-growth ratio of 0.61 and a beta of 2.59. The stock has a fifty day moving average of $193.66 and a 200-day moving average of $168.11.

Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $5.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.05 by $0.15. The firm had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.89 billion. Royal Caribbean Cruises had a net margin of 16.21% and a return on equity of 52.92%. The company’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same period in the prior year, the firm posted $3.85 earnings per share. Equities research analysts anticipate that Royal Caribbean Cruises will post 11.64 earnings per share for the current year.

Insider Activity

In other Royal Caribbean Cruises news, Director Richard D. Fain sold 25,000 shares of the stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $210.02, for a total transaction of $5,250,500.00. Following the completion of the sale, the director now owns 204,521 shares of the company’s stock, valued at $42,953,500.42. This represents a 10.89 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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 transaction 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 position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 34,796 shares of company stock valued at $7,170,759. 7.95% of the stock is currently owned by insiders.

Institutional Trading of Royal Caribbean Cruises

Several large investors have recently modified their holdings of the business. Plato Investment Management Ltd purchased a new stake in Royal Caribbean Cruises in the 3rd quarter worth approximately $26,000. Unique Wealth Strategies LLC bought a new position in shares of Royal Caribbean Cruises during the second quarter valued at approximately $27,000. Safe Harbor Fiduciary LLC purchased a new stake in Royal Caribbean Cruises in the third quarter worth $27,000. Versant Capital Management Inc boosted its holdings in Royal Caribbean Cruises by 905.3% in the second quarter. Versant Capital Management Inc now owns 191 shares of the company’s stock valued at $30,000 after acquiring an additional 172 shares in the last quarter. Finally, 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 acquiring an additional 121 shares in the last quarter. 87.53% of the stock is owned by institutional investors.

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.