Bank of America Boosts Royal Caribbean Cruises (NYSE:RCL) Price Target to $240.00

Royal Caribbean Cruises (NYSE:RCL) had its price target lifted by research analysts at Bank of America from $210.00 to $240.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Bank of America‘s target price would suggest a potential upside of 3.00% from the company’s current price.

RCL has been the topic of several other research reports. Mizuho raised their target price on shares of Royal Caribbean Cruises from $168.00 to $195.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. Tigress Financial lifted their price objective on Royal Caribbean Cruises from $210.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, November 7th. StockNews.com upgraded Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. UBS Group raised their target price on Royal Caribbean Cruises from $168.00 to $183.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. upped their price target on shares of Royal Caribbean Cruises from $213.00 to $243.00 and gave the company an “overweight” rating in a research report on Tuesday, October 29th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $220.00.

Royal Caribbean Cruises Stock Down 0.5 %

RCL stock opened at $233.01 on Wednesday. The stock has a market capitalization of $62.65 billion, a P/E ratio of 23.95, a P/E/G ratio of 0.62 and a beta of 2.59. The company has a debt-to-equity ratio of 2.63, a current ratio of 0.19 and a quick ratio of 0.16. Royal Caribbean Cruises has a 1-year low of $101.00 and a 1-year high of $238.10. The business has a fifty day moving average price of $190.67 and a 200-day moving average price of $166.84.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings data on Tuesday, October 29th. The company reported $5.20 EPS for the quarter, topping the consensus estimate of $5.05 by $0.15. The company had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $4.89 billion. Royal Caribbean Cruises had a return on equity of 52.92% and a net margin of 16.21%. Royal Caribbean Cruises’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same period last year, the company earned $3.85 EPS. Equities analysts forecast that Royal Caribbean Cruises will post 11.64 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Laura H. Bethge sold 3,073 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 27,388 shares of the company’s stock, valued at approximately $4,620,629.48. The trade was a 10.09 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Henry L. Pujol sold 6,723 shares of the stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $208.51, for a total transaction 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 trade represents a 40.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,796 shares of company stock valued at $7,170,759. Company insiders own 7.95% of the company’s stock.

Institutional Trading of Royal Caribbean Cruises

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Plato Investment Management Ltd purchased a new position in Royal Caribbean Cruises during the 3rd quarter valued at approximately $26,000. DiNuzzo Private Wealth Inc. grew its holdings in shares of Royal Caribbean Cruises by 257.4% in the third quarter. DiNuzzo Private Wealth Inc. now owns 168 shares of the company’s stock valued at $30,000 after purchasing an additional 121 shares in the last quarter. Unique Wealth Strategies LLC bought a new stake in Royal Caribbean Cruises in the second quarter worth $27,000. Versant Capital Management Inc increased its position in Royal Caribbean Cruises by 905.3% in the second quarter. Versant Capital Management Inc now owns 191 shares of the company’s stock worth $30,000 after purchasing an additional 172 shares during the last quarter. Finally, AlphaMark Advisors LLC raised its stake in Royal Caribbean Cruises by 233.3% during the second quarter. AlphaMark Advisors LLC now owns 200 shares of the company’s stock valued at $32,000 after purchasing an additional 140 shares in the last quarter. 87.53% of the stock is currently owned by institutional investors.

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.