Royal Caribbean Cruises (NYSE:RCL) Hits New 12-Month High on Analyst Upgrade

Royal Caribbean Cruises Ltd. (NYSE:RCL)’s stock price hit a new 52-week high during mid-day trading on Monday after Stifel Nicolaus raised their price target on the stock from $250.00 to $310.00. Stifel Nicolaus currently has a buy rating on the stock. Royal Caribbean Cruises traded as high as $260.00 and last traded at $260.00, with a volume of 1156 shares traded. The stock had previously closed at $258.09.

Several other equities research analysts have also weighed in on RCL. Sanford C. Bernstein started coverage on shares of Royal Caribbean Cruises in a research note on Tuesday, November 26th. They issued an “outperform” rating and a $290.00 price objective on the stock. Bank of America increased their price target on shares of Royal Caribbean Cruises from $210.00 to $240.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 13th. Wells Fargo & Company boosted their price objective on shares of Royal Caribbean Cruises from $180.00 to $232.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Barclays boosted their price target on Royal Caribbean Cruises from $244.00 to $245.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, Macquarie boosted their target price on shares of Royal Caribbean Cruises from $189.00 to $250.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $233.63.

Insiders Place Their Bets

In other news, Director Arne Alexander Wilhelmsen sold 139,353 shares of the business’s stock in a transaction dated Thursday, November 21st. The stock was sold at an average price of $237.89, for a total value of $33,150,685.17. Following the sale, the director now directly owns 18,167,507 shares in the company, valued at $4,321,868,240.23. The trade was a 0.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Harri U. Kulovaara sold 3,256 shares of the stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $234.62, for a total value of $763,922.72. Following the transaction, the executive vice president now owns 22,348 shares of the company’s stock, valued at approximately $5,243,287.76. The trade was a 12.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 404,332 shares of company stock valued at $94,299,521. 7.95% of the stock is currently owned by corporate insiders.

Institutional Trading of Royal Caribbean Cruises

A number of hedge funds have recently modified their holdings of RCL. Plato Investment Management Ltd acquired a new position in shares of Royal Caribbean Cruises during the 3rd quarter worth approximately $26,000. Safe Harbor Fiduciary LLC acquired a new position in Royal Caribbean Cruises during the third quarter worth about $27,000. DiNuzzo Private Wealth Inc. lifted 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 worth $30,000 after acquiring an additional 121 shares during the last quarter. Unique Wealth Strategies LLC acquired a new stake in shares of Royal Caribbean Cruises in the 2nd quarter valued at approximately $27,000. Finally, LRI Investments LLC acquired a new stake in shares of Royal Caribbean Cruises in the 3rd quarter valued at approximately $31,000. Institutional investors and hedge funds own 87.53% of the company’s stock.

Royal Caribbean Cruises Trading Up 0.7 %

The firm has a market capitalization of $69.91 billion, a price-to-earnings ratio of 26.53, a P/E/G ratio of 0.68 and a beta of 2.60. The firm’s 50-day moving average is $215.38 and its 200 day moving average is $178.94. The company has a current ratio of 0.19, a quick ratio of 0.16 and a debt-to-equity ratio of 2.63.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings results on Tuesday, October 29th. The company reported $5.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.05 by $0.15. The business 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%. The company’s quarterly revenue was up 17.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.85 EPS. On average, equities analysts predict that Royal Caribbean Cruises Ltd. will post 11.65 earnings per share 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.