Citigroup Issues Positive Forecast for Royal Caribbean Cruises (NYSE:RCL) Stock Price

Royal Caribbean Cruises (NYSE:RCL) had its price target hoisted by analysts at Citigroup from $283.00 to $304.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price objective suggests a potential upside of 14.84% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the company. Barclays increased their price target on Royal Caribbean Cruises from $245.00 to $287.00 and gave the company an “overweight” rating in a report on Friday, December 13th. StockNews.com upgraded Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a report on Tuesday, November 26th. Stifel Nicolaus boosted their price target on shares of Royal Caribbean Cruises from $250.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Mizuho restated an “outperform” rating and set a $253.00 price objective (down from $255.00) on shares of Royal Caribbean Cruises in a research report on Thursday, January 23rd. Finally, Sanford C. Bernstein assumed coverage on shares of Royal Caribbean Cruises in a report on Tuesday, November 26th. They issued an “outperform” rating and a $290.00 target price on the stock. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $254.94.

Royal Caribbean Cruises Trading Up 11.8 %

Shares of RCL opened at $264.71 on Wednesday. Royal Caribbean Cruises has a 52-week low of $113.10 and a 52-week high of $269.96. The stock has a market cap of $71.17 billion, a PE ratio of 27.21, a price-to-earnings-growth ratio of 0.50 and a beta of 2.59. The firm’s fifty day moving average is $238.47 and its two-hundred day moving average is $200.21. The company has a quick ratio of 0.16, a current ratio of 0.19 and a debt-to-equity ratio of 2.63.

Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings results on Tuesday, January 28th. The company reported $1.63 earnings per share for the quarter, topping analysts’ consensus estimates of $1.50 by $0.13. Royal Caribbean Cruises had a net margin of 16.21% and a return on equity of 52.92%. During the same quarter last year, the firm earned $1.25 EPS. Research analysts forecast that Royal Caribbean Cruises will post 11.66 earnings per share for the current fiscal year.

Insider Activity at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, Director Arne Alexander Wilhelmsen sold 230,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $233.62, for a total value of $53,732,600.00. Following the completion of the transaction, the director now owns 18,556,860 shares of the company’s stock, valued at $4,335,253,633.20. This trade represents a 1.22 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Harri U. Kulovaara sold 3,256 shares of Royal Caribbean Cruises stock in a transaction on Wednesday, November 20th. The shares were sold at an average price of $234.62, for a total value of $763,922.72. Following the completion of the transaction, the executive vice president now owns 22,348 shares of the company’s stock, valued at approximately $5,243,287.76. This trade represents a 12.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 372,609 shares of company stock worth $87,647,208. 7.95% of the stock is currently owned by company insiders.

Institutional Trading of Royal Caribbean Cruises

Large investors have recently made changes to their positions in the company. Plato Investment Management Ltd acquired a new position in Royal Caribbean Cruises during the 3rd quarter worth approximately $26,000. Safe Harbor Fiduciary LLC purchased a new stake in shares of Royal Caribbean Cruises during the 3rd quarter worth $27,000. DiNuzzo Private Wealth Inc. grew its stake in shares of Royal Caribbean Cruises by 257.4% during the third quarter. DiNuzzo Private Wealth Inc. now owns 168 shares of the company’s stock worth $30,000 after purchasing an additional 121 shares in the last quarter. LRI Investments LLC purchased a new position in Royal Caribbean Cruises in the third quarter valued at $31,000. Finally, Bay Harbor Wealth Management LLC acquired a new stake in Royal Caribbean Cruises in the fourth quarter valued at $36,000. 87.53% of the stock is currently owned by hedge funds and other 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.