Royal Caribbean Cruises (NYSE:RCL) Reaches New 52-Week High on Analyst Upgrade

Royal Caribbean Cruises Ltd. (NYSE:RCL)’s stock price reached a new 52-week high on Tuesday after Citigroup raised their price target on the stock from $165.00 to $204.00. Citigroup currently has a buy rating on the stock. Royal Caribbean Cruises traded as high as $158.09 and last traded at $157.43, with a volume of 165247 shares traded. The stock had previously closed at $154.52.

RCL has been the subject of a number of other reports. Bank of America raised their price target on shares of Royal Caribbean Cruises from $135.00 to $145.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. Macquarie raised their price objective on shares of Royal Caribbean Cruises from $145.00 to $160.00 and gave the stock an “outperform” rating in a report on Friday, March 15th. The Goldman Sachs Group reissued a “buy” rating on shares of Royal Caribbean Cruises in a report on Monday, April 1st. Barclays raised their price objective on shares of Royal Caribbean Cruises from $154.00 to $165.00 and gave the stock an “overweight” rating in a report on Friday, April 26th. Finally, Mizuho lifted their price target on shares of Royal Caribbean Cruises from $164.00 to $168.00 and gave the company a “buy” rating in a report on Friday, April 26th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $161.13.

Insider Activity at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, CAO Henry L. Pujol sold 9,944 shares of Royal Caribbean Cruises stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $141.23, for a total value of $1,404,391.12. Following the completion of the sale, the chief accounting officer now directly owns 16,687 shares in the company, valued at $2,356,705.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Royal Caribbean Cruises news, CAO Henry L. Pujol sold 9,944 shares of Royal Caribbean Cruises stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $141.23, for a total value of $1,404,391.12. Following the completion of the sale, the chief accounting officer now directly owns 16,687 shares in the company, valued at $2,356,705.01. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Richard D. Fain sold 19,584 shares of the business’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $153.96, for a total transaction of $3,015,152.64. Following the completion of the sale, the director now owns 179,117 shares of the company’s stock, valued at $27,576,853.32. The disclosure for this sale can be found here. Over the last three months, insiders have sold 152,884 shares of company stock valued at $22,052,985. Corporate insiders own 7.95% of the company’s stock.

Hedge Funds Weigh In On Royal Caribbean Cruises

Several large investors have recently bought and sold shares of RCL. Norges Bank bought a new stake in shares of Royal Caribbean Cruises in the 4th quarter worth about $323,251,000. Eagle Asset Management Inc. bought a new stake in shares of Royal Caribbean Cruises in the 4th quarter worth about $79,392,000. Vanguard Group Inc. grew its holdings in shares of Royal Caribbean Cruises by 2.0% in the 3rd quarter. Vanguard Group Inc. now owns 24,917,423 shares of the company’s stock worth $2,295,891,000 after purchasing an additional 487,327 shares during the last quarter. Vaughan Nelson Investment Management L.P. bought a new stake in shares of Royal Caribbean Cruises in the 1st quarter worth about $66,279,000. Finally, Junto Capital Management LP bought a new stake in shares of Royal Caribbean Cruises in the 4th quarter worth about $47,950,000. 87.53% of the stock is currently owned by institutional investors and hedge funds.

Royal Caribbean Cruises Trading Up 0.4 %

The company’s fifty day moving average price is $145.46 and its two-hundred day moving average price is $132.92. The company has a current ratio of 0.19, a quick ratio of 0.16 and a debt-to-equity ratio of 3.54. The firm has a market cap of $41.52 billion, a P/E ratio of 20.79, a price-to-earnings-growth ratio of 0.48 and a beta of 2.56.

Royal Caribbean Cruises (NYSE:RCL) last posted its earnings results on Thursday, April 25th. The company reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.44. Royal Caribbean Cruises had a net margin of 14.28% and a return on equity of 51.54%. The business had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.69 billion. During the same quarter in the prior year, the firm earned ($0.23) EPS. The firm’s quarterly revenue was up 29.2% compared to the same quarter last year. As a group, sell-side analysts predict that Royal Caribbean Cruises Ltd. will post 11.1 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.