Royal Caribbean Cruises (NYSE:RCL) Given New $204.00 Price Target at Truist Financial

Royal Caribbean Cruises (NYSE:RCL) had its price target raised by research analysts at Truist Financial from $175.00 to $204.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s price target points to a potential upside of 14.92% from the company’s current price.

Several other research analysts have also recently commented on the company. Macquarie boosted their target price on Royal Caribbean Cruises from $165.00 to $189.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 30th. Mizuho raised their target price on shares of Royal Caribbean Cruises from $168.00 to $195.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Citigroup boosted their price target on shares of Royal Caribbean Cruises from $165.00 to $204.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Stifel Nicolaus boosted their target price on shares of Royal Caribbean Cruises from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. Finally, Tigress Financial boosted their target price on Royal Caribbean Cruises from $155.00 to $210.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Royal Caribbean Cruises has a consensus rating of “Moderate Buy” and an average target price of $184.13.

Royal Caribbean Cruises Stock Down 2.9 %

Royal Caribbean Cruises stock opened at $177.51 on Thursday. The company has a market capitalization of $45.68 billion, a PE ratio of 22.88, a price-to-earnings-growth ratio of 0.50 and a beta of 2.61. The company has a debt-to-equity ratio of 3.20, a quick ratio of 0.17 and a current ratio of 0.19. Royal Caribbean Cruises has a fifty-two week low of $78.35 and a fifty-two week high of $184.41. The firm has a 50 day moving average price of $161.41 and a 200 day moving average price of $150.68.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings results on Thursday, July 25th. The company reported $3.21 EPS for the quarter, topping the consensus estimate of $2.76 by $0.45. Royal Caribbean Cruises had a return on equity of 52.49% and a net margin of 16.32%. The business had revenue of $4.10 billion during the quarter, compared to analyst estimates of $4.05 billion. During the same period last year, the business posted $1.82 earnings per share. The company’s quarterly revenue was up 16.4% on a year-over-year basis. Research analysts expect that Royal Caribbean Cruises will post 11.66 earnings per share for the current year.

Insider Buying and Selling

In other Royal Caribbean Cruises news, insider Laura H. Bethge sold 3,073 shares of the firm’s stock in a transaction 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 transaction, the insider now directly owns 27,388 shares of the company’s stock, valued at approximately $4,620,629.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Vagn O. Sorensen sold 5,800 shares of the business’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 value of $919,300.00. Following the transaction, the director now owns 25,837 shares of the company’s stock, valued at $4,095,164.50. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Laura H. Bethge sold 3,073 shares of the stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $168.71, for a total value of $518,445.83. Following the sale, the insider now directly owns 27,388 shares of the company’s stock, valued at $4,620,629.48. The disclosure for this sale can be found here. 7.95% of the stock is owned by company insiders.

Hedge Funds Weigh In On Royal Caribbean Cruises

Several institutional investors have recently bought and sold shares of RCL. Blair William & Co. IL boosted its holdings in shares of Royal Caribbean Cruises by 37.4% in the first quarter. Blair William & Co. IL now owns 102,133 shares of the company’s stock valued at $14,197,000 after acquiring an additional 27,819 shares in the last quarter. QRG Capital Management Inc. increased its position in Royal Caribbean Cruises by 17.2% during the 2nd quarter. QRG Capital Management Inc. now owns 38,613 shares of the company’s stock worth $6,156,000 after purchasing an additional 5,655 shares during the period. Virtu Financial LLC purchased a new position in shares of Royal Caribbean Cruises during the 4th quarter worth approximately $765,000. Cibc World Markets Corp raised its stake in shares of Royal Caribbean Cruises by 40.9% during the 4th quarter. Cibc World Markets Corp now owns 59,677 shares of the company’s stock worth $7,728,000 after buying an additional 17,316 shares in the last quarter. Finally, Focus Financial Network Inc. ADV acquired a new stake in shares of Royal Caribbean Cruises in the 4th quarter valued at approximately $327,000. 87.53% of the stock is owned by institutional investors and hedge funds.

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.