Wells Fargo & Company Issues Positive Forecast for Royal Caribbean Cruises (NYSE:RCL) Stock Price

Royal Caribbean Cruises (NYSE:RCL) had its target price increased by Wells Fargo & Company from $232.00 to $272.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target would suggest a potential upside of 16.95% from the company’s previous close.

RCL has been the subject of a number of other reports. JPMorgan Chase & Co. lifted their price target on Royal Caribbean Cruises from $253.00 to $295.00 and gave the stock an “overweight” rating in a research note on Friday, January 17th. Barclays boosted their price target on Royal Caribbean Cruises from $245.00 to $287.00 and gave the company an “overweight” rating in a report on Friday, December 13th. Bank of America raised their price objective on Royal Caribbean Cruises from $210.00 to $240.00 and gave the stock a “neutral” rating in a research note on Wednesday, November 13th. Tigress Financial boosted their target price on shares of Royal Caribbean Cruises from $210.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Finally, Mizuho restated an “outperform” rating and issued a $253.00 price target (down from $255.00) on shares of Royal Caribbean Cruises in a research report on Thursday. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $252.31.

Royal Caribbean Cruises Trading Down 2.3 %

Shares of RCL opened at $232.59 on Monday. 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. The stock has a 50-day moving average price of $237.76 and a 200 day moving average price of $199.00. The company has a market capitalization of $62.54 billion, a P/E ratio of 23.90, a P/E/G ratio of 0.50 and a beta of 2.59.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings results on Tuesday, October 29th. The company reported $5.20 earnings per share for the quarter, topping analysts’ consensus estimates of $5.05 by $0.15. The business had revenue of $4.89 billion during 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 business’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same quarter last year, the company earned $3.85 earnings per share. Sell-side analysts forecast that Royal Caribbean Cruises will post 11.66 EPS for the current fiscal year.

Insider Activity at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, Director Richard D. Fain sold 25,000 shares of Royal Caribbean Cruises stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $210.02, for a total value of $5,250,500.00. Following the transaction, the director now owns 204,521 shares in the company, valued at approximately $42,953,500.42. The trade was a 10.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Henry L. Pujol sold 6,723 shares of the firm’s stock in a transaction 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 sale, the chief accounting officer now directly 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 404,332 shares of company stock valued at $94,299,521 over the last 90 days. 7.95% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Royal Caribbean Cruises

Hedge funds have recently modified their holdings of the stock. Park Avenue Securities LLC increased its position in shares of Royal Caribbean Cruises by 20.1% in the fourth quarter. Park Avenue Securities LLC now owns 6,630 shares of the company’s stock worth $1,530,000 after acquiring an additional 1,111 shares in the last quarter. Sanctuary Advisors LLC raised its stake in Royal Caribbean Cruises by 76.1% during the 3rd quarter. Sanctuary Advisors LLC now owns 28,991 shares of the company’s stock valued at $5,142,000 after purchasing an additional 12,530 shares during the period. Wedge Capital Management L L P NC lifted its holdings in shares of Royal Caribbean Cruises by 2.6% in the third quarter. Wedge Capital Management L L P NC now owns 289,518 shares of the company’s stock valued at $51,349,000 after purchasing an additional 7,298 shares in the last quarter. Souders Financial Advisors acquired a new stake in shares of Royal Caribbean Cruises in the third quarter worth $800,000. Finally, Merit Financial Group LLC grew its holdings in shares of Royal Caribbean Cruises by 541.0% during the fourth quarter. Merit Financial Group LLC now owns 9,897 shares of the company’s stock valued at $2,283,000 after buying an additional 8,353 shares in the last quarter. 87.53% of the stock is owned by hedge funds and other 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.