Royal Caribbean Cruises (NYSE:RCL) Upgraded to “Hold” at StockNews.com

StockNews.com upgraded shares of Royal Caribbean Cruises (NYSE:RCL) from a sell rating to a hold rating in a research note issued to investors on Tuesday.

A number of other research firms have also commented on RCL. Truist Financial raised their price objective on Royal Caribbean Cruises from $175.00 to $204.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Morgan Stanley upped their price objective on shares of Royal Caribbean Cruises from $140.00 to $154.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 7th. Tigress Financial increased their target price on Royal Caribbean Cruises from $210.00 to $270.00 and gave the company a “buy” rating in a research report on Thursday, November 7th. Barclays raised their price target on shares of 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, The Goldman Sachs Group lifted their price objective on Royal Caribbean Cruises from $220.00 to $245.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $224.38.

Royal Caribbean Cruises Stock Performance

RCL opened at $241.62 on Tuesday. The company has a quick ratio of 0.16, a current ratio of 0.19 and a debt-to-equity ratio of 2.63. The business has a 50 day moving average of $206.82 and a 200-day moving average of $174.08. Royal Caribbean Cruises has a 12-month low of $105.36 and a 12-month high of $245.91. The stock has a market cap of $64.97 billion, a price-to-earnings ratio of 24.83, a PEG ratio of 0.63 and a beta of 2.59.

Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $5.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.05 by $0.15. The company had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $4.89 billion. Royal Caribbean Cruises had a return on equity of 52.92% and a net margin of 16.21%. The business’s revenue was up 17.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.85 earnings per share. On average, equities research analysts expect that Royal Caribbean Cruises will post 11.64 earnings per share for the current year.

Insider Transactions at Royal Caribbean Cruises

In other news, CAO Henry L. Pujol sold 6,723 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief accounting officer now directly owns 9,964 shares of the company’s stock, valued at $2,077,593.64. The trade was a 40.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Arne Alexander Wilhelmsen sold 230,000 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $233.62, for a total transaction of $53,732,600.00. Following the completion of the transaction, the director now directly owns 18,556,860 shares in the company, valued at approximately $4,335,253,633.20. The trade was a 1.22 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 404,332 shares of company stock valued at $94,299,521 over the last ninety days. 7.95% of the stock is owned by company insiders.

Institutional Investors Weigh In On Royal Caribbean Cruises

Several institutional investors have recently bought and sold shares of RCL. Plato Investment Management Ltd bought a new position in Royal Caribbean Cruises during the 3rd quarter valued at $26,000. Unique Wealth Strategies LLC purchased a new stake in shares of Royal Caribbean Cruises in the second quarter valued at about $27,000. Safe Harbor Fiduciary LLC bought a new position in shares of Royal Caribbean Cruises during the third quarter valued at about $27,000. Versant Capital Management Inc boosted its holdings in Royal Caribbean Cruises by 905.3% during 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, DiNuzzo Private Wealth Inc. grew its position in Royal Caribbean Cruises by 257.4% in the 3rd 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. Institutional investors 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.