Royal Caribbean Cruises (NYSE:RCL) Reaches New 12-Month High After Analyst Upgrade

Royal Caribbean Cruises Ltd. (NYSE:RCL) shares hit a new 52-week high during mid-day trading on Monday after Truist Financial raised their price target on the stock from $204.00 to $272.00. Truist Financial currently has a buy rating on the stock. Royal Caribbean Cruises traded as high as $249.00 and last traded at $248.14, with a volume of 109522 shares traded. The stock had previously closed at $244.06.

A number of other analysts have also weighed in on RCL. The Goldman Sachs Group increased their price objective on Royal Caribbean Cruises from $220.00 to $245.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Barclays increased their price objective 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. Morgan Stanley increased their price objective on Royal Caribbean Cruises from $140.00 to $154.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 7th. Bank of America increased their price objective on Royal Caribbean Cruises from $210.00 to $240.00 and gave the company a “neutral” rating in a research note on Wednesday, November 13th. Finally, StockNews.com raised Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a research note on Tuesday, November 26th. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Royal Caribbean Cruises currently has a consensus rating of “Moderate Buy” and a consensus target price of $228.63.

Insiders Place Their Bets

In other news, Director Arne Alexander Wilhelmsen sold 139,353 shares of the firm’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $237.89, for a total transaction of $33,150,685.17. Following the completion of the transaction, the director now directly owns 18,167,507 shares in the company, valued at $4,321,868,240.23. This trade represents a 0.76 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Harri U. Kulovaara sold 3,256 shares of the firm’s 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 transaction, the executive vice president now owns 22,348 shares of the company’s stock, valued at $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 90 days, insiders sold 404,332 shares of company stock worth $94,299,521. 7.95% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Royal Caribbean Cruises

Several institutional investors and hedge funds have recently modified their holdings of the stock. FSM Wealth Advisors LLC increased its holdings in shares of Royal Caribbean Cruises by 3.2% during the third quarter. FSM Wealth Advisors LLC now owns 1,636 shares of the company’s stock valued at $290,000 after acquiring an additional 51 shares in the last quarter. Venturi Wealth Management LLC boosted its position in shares of Royal Caribbean Cruises by 20.9% during the third quarter. Venturi Wealth Management LLC now owns 353 shares of the company’s stock valued at $63,000 after buying an additional 61 shares during the last quarter. Venture Visionary Partners LLC boosted its position in shares of Royal Caribbean Cruises by 4.8% during the third quarter. Venture Visionary Partners LLC now owns 1,366 shares of the company’s stock valued at $242,000 after buying an additional 62 shares during the last quarter. Empower Advisory Group LLC boosted its position in shares of Royal Caribbean Cruises by 3.7% during the third quarter. Empower Advisory Group LLC now owns 1,755 shares of the company’s stock valued at $311,000 after buying an additional 63 shares during the last quarter. Finally, Continuum Advisory LLC boosted its position in shares of Royal Caribbean Cruises by 10.3% during the third quarter. Continuum Advisory LLC now owns 705 shares of the company’s stock valued at $125,000 after buying an additional 66 shares during the last quarter. 87.53% of the stock is currently owned by institutional investors.

Royal Caribbean Cruises Price Performance

The company has a debt-to-equity ratio of 2.63, a current ratio of 0.19 and a quick ratio of 0.16. The company has a market capitalization of $66.25 billion, a PE ratio of 25.32, a PEG ratio of 0.64 and a beta of 2.59. The firm has a 50-day moving average of $208.22 and a 200 day moving average of $175.28.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings data on Tuesday, October 29th. The company reported $5.20 EPS for the quarter, beating the consensus estimate of $5.05 by $0.15. Royal Caribbean Cruises had a return on equity of 52.92% and a net margin of 16.21%. The company had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $4.89 billion. During the same period last year, the firm posted $3.85 earnings per share. Royal Caribbean Cruises’s revenue was up 17.5% compared to the same quarter last year. As a group, research analysts anticipate 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.