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

Royal Caribbean Cruises (NYSE:RCL) had its price objective hoisted by Bank of America from $205.00 to $210.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Bank of America‘s target price points to a potential upside of 1.77% from the stock’s previous close.

A number of other equities research analysts have also recently commented on the stock. Citigroup upped their target price on shares of Royal Caribbean Cruises from $204.00 to $253.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. The Goldman Sachs Group increased their price target on shares of Royal Caribbean Cruises from $170.00 to $195.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. UBS Group increased their price target on shares of Royal Caribbean Cruises from $168.00 to $183.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Tigress Financial increased their price target on shares of Royal Caribbean Cruises from $155.00 to $210.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Finally, Barclays increased their price target on shares of Royal Caribbean Cruises from $195.00 to $244.00 and gave the stock an “overweight” rating in a report on Tuesday, October 22nd. One analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Royal Caribbean Cruises has an average rating of “Moderate Buy” and a consensus price target of $214.00.

Royal Caribbean Cruises Price Performance

Shares of NYSE:RCL opened at $206.35 on Wednesday. The company has a 50-day simple moving average of $180.26 and a 200-day simple moving average of $161.00. Royal Caribbean Cruises has a one year low of $83.25 and a one year high of $214.12. The company has a debt-to-equity ratio of 2.63, a quick ratio of 0.17 and a current ratio of 0.19. The stock has a market capitalization of $55.48 billion, a price-to-earnings ratio of 21.21, a PEG ratio of 0.61 and a beta of 2.61.

Royal Caribbean Cruises (NYSE:RCL) last announced its earnings results on Tuesday, October 29th. The company reported $5.20 EPS for the quarter, beating analysts’ consensus estimates of $5.05 by $0.15. Royal Caribbean Cruises had a net margin of 16.21% and a return on equity of 52.92%. The business had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $4.89 billion. During the same period in the prior year, the company earned $3.85 earnings per share. The business’s revenue was up 17.5% compared to the same quarter last year. On average, analysts predict that Royal Caribbean Cruises will post 11.6 EPS for the current year.

Insider Activity

In other news, Director Vagn O. Sorensen sold 5,800 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $158.50, for a total value of $919,300.00. Following the sale, the director now directly owns 25,837 shares in the company, valued at $4,095,164.50. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related 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 sale, the insider now owns 27,388 shares in the company, valued at approximately $4,620,629.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Vagn O. Sorensen sold 5,800 shares of the firm’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 sale, the director now owns 25,837 shares in the company, valued at approximately $4,095,164.50. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 7.95% of the company’s stock.

Hedge Funds Weigh In On Royal Caribbean Cruises

Large investors have recently bought and sold shares of the stock. DiNuzzo Private Wealth Inc. raised its stake in Royal Caribbean Cruises by 257.4% during the third quarter. DiNuzzo Private Wealth Inc. now owns 168 shares of the company’s stock worth $30,000 after purchasing an additional 121 shares during the period. Unique Wealth Strategies LLC purchased a new position in shares of Royal Caribbean Cruises in the 2nd quarter valued at $27,000. Versant Capital Management Inc raised its stake in shares of Royal Caribbean Cruises by 905.3% in the 2nd quarter. Versant Capital Management Inc now owns 191 shares of the company’s stock valued at $30,000 after acquiring an additional 172 shares during the period. AlphaMark Advisors LLC raised its stake in shares of Royal Caribbean Cruises by 233.3% in the 2nd quarter. AlphaMark Advisors LLC now owns 200 shares of the company’s stock valued at $32,000 after acquiring an additional 140 shares during the period. Finally, Meeder Asset Management Inc. raised its stake in shares of Royal Caribbean Cruises by 50.3% in 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 during the period. 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.