Bank of America Raises Royal Caribbean Cruises (NYSE:RCL) Price Target to $172.00

Royal Caribbean Cruises (NYSE:RCL) had its price target lifted by Bank of America from $145.00 to $172.00 in a report published on Tuesday, Benzinga reports. Bank of America currently has a neutral rating on the stock.

Other analysts also recently issued reports about the company. Mizuho lifted their target price on Royal Caribbean Cruises from $164.00 to $168.00 and gave the stock a buy rating in a research report on Friday, April 26th. Citigroup lifted their target price on Royal Caribbean Cruises from $165.00 to $204.00 and gave the stock a buy rating in a research report on Wednesday, June 26th. Argus lifted their target price on Royal Caribbean Cruises from $161.00 to $172.00 and gave the stock a buy rating in a research report on Wednesday, May 29th. Susquehanna lifted their target price on Royal Caribbean Cruises from $150.00 to $160.00 and gave the stock a positive rating in a research report on Friday, April 26th. Finally, Truist Financial lifted their price objective on Royal Caribbean Cruises from $151.00 to $175.00 and gave the company a buy rating in a report on Wednesday, May 29th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, Royal Caribbean Cruises presently has an average rating of Moderate Buy and a consensus price target of $172.25.

Royal Caribbean Cruises Stock Up 1.0 %

Shares of RCL opened at $153.56 on Tuesday. The company has a market cap of $39.52 billion, a PE ratio of 19.79, a P/E/G ratio of 0.49 and a beta of 2.62. The business has a fifty day moving average of $156.33 and a 200 day moving average of $138.84. Royal Caribbean Cruises has a 52-week low of $78.35 and a 52-week high of $173.37. The company has a quick ratio of 0.16, a current ratio of 0.19 and a debt-to-equity ratio of 3.54.

Royal Caribbean Cruises (NYSE:RCL) last released its earnings results on Thursday, July 25th. The company reported $3.21 earnings per share for the quarter, topping the consensus estimate of $2.77 by $0.44. Royal Caribbean Cruises had a return on equity of 51.54% and a net margin of 14.28%. The business had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.05 billion. During the same period last year, the company earned $1.82 earnings per share. The business’s revenue for the quarter was up 16.4% compared to the same quarter last year. On average, sell-side analysts expect that Royal Caribbean Cruises will post 11.15 EPS for the current year.

Royal Caribbean Cruises Dividend Announcement

The company also recently announced a — dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 20th will be issued a $0.40 dividend. The ex-dividend date is Friday, September 20th.

Insiders Place Their Bets

In other Royal Caribbean Cruises news, CEO Michael W. Bayley sold 24,201 shares of the business’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $140.21, for a total value of $3,393,222.21. Following the completion of the transaction, the chief executive officer now directly owns 98,850 shares in the company, valued at $13,859,758.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Richard D. Fain sold 19,584 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $153.96, for a total transaction of $3,015,152.64. Following the transaction, the director now owns 179,117 shares in the company, valued at $27,576,853.32. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael W. Bayley sold 24,201 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $140.21, for a total transaction of $3,393,222.21. Following the transaction, the chief executive officer now owns 98,850 shares in the company, valued at approximately $13,859,758.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 102,884 shares of company stock worth $15,071,485. 7.95% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Royal Caribbean Cruises

Several hedge funds have recently modified their holdings of RCL. BKM Wealth Management LLC acquired a new position in Royal Caribbean Cruises in the 4th quarter worth approximately $26,000. Scarborough Advisors LLC acquired a new position in Royal Caribbean Cruises in the 4th quarter worth approximately $26,000. Unique Wealth Strategies LLC acquired a new position in Royal Caribbean Cruises in the 2nd quarter worth approximately $27,000. Creekmur Asset Management LLC acquired a new position in Royal Caribbean Cruises in the 4th quarter worth approximately $30,000. Finally, Versant Capital Management Inc increased its holdings in Royal Caribbean Cruises by 905.3% in the 2nd quarter. Versant Capital Management Inc now owns 191 shares of the company’s stock worth $30,000 after buying an additional 172 shares during the period. Institutional investors and hedge funds 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.