JPMorgan Chase & Co. Boosts Royal Caribbean Cruises (NYSE:RCL) Price Target to $175.00

Royal Caribbean Cruises (NYSE:RCL) had its price objective lifted by analysts at JPMorgan Chase & Co. from $173.00 to $175.00 in a report issued on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 15.80% from the stock’s current price.

Other research analysts have also recently issued reports about the company. UBS Group upped their price objective on Royal Caribbean Cruises from $154.00 to $168.00 and gave the company a “buy” rating in a report on Tuesday, May 14th. Barclays upped their price objective on Royal Caribbean Cruises from $154.00 to $165.00 and gave the company an “overweight” rating in a report on Friday, April 26th. The Goldman Sachs Group reiterated a “buy” rating on shares of Royal Caribbean Cruises in a report on Monday, April 1st. Argus upped their price target on Royal Caribbean Cruises from $161.00 to $172.00 and gave the stock a “buy” rating in a research note on Wednesday, May 29th. Finally, Wells Fargo & Company upped their price target on Royal Caribbean Cruises from $159.00 to $165.00 and gave the stock an “overweight” rating in a research note on Friday, May 17th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, Royal Caribbean Cruises currently has a consensus rating of “Moderate Buy” and an average price target of $156.31.

Royal Caribbean Cruises Price Performance

NYSE:RCL opened at $151.12 on Monday. Royal Caribbean Cruises has a 12 month low of $78.35 and a 12 month high of $157.58. The stock has a 50 day moving average of $144.24 and a two-hundred day moving average of $132.39. The company has a current ratio of 0.19, a quick ratio of 0.16 and a debt-to-equity ratio of 3.54. The firm has a market cap of $38.89 billion, a P/E ratio of 19.47, a price-to-earnings-growth ratio of 0.45 and a beta of 2.56.

Royal Caribbean Cruises (NYSE:RCL) last issued its earnings results on Thursday, April 25th. The company reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.44. The business had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.69 billion. Royal Caribbean Cruises had a return on equity of 51.54% and a net margin of 14.28%. The business’s revenue for the quarter was up 29.2% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.23) EPS. On average, analysts expect that Royal Caribbean Cruises will post 11.09 earnings per share for the current fiscal year.

Insider Transactions at Royal Caribbean Cruises

In other news, CEO Jason T. Liberty sold 50,000 shares of the stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $139.63, for a total transaction of $6,981,500.00. Following the completion of the sale, the chief executive officer now owns 153,017 shares in the company, valued at $21,365,763.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CAO Henry L. Pujol sold 9,944 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $141.23, for a total transaction of $1,404,391.12. Following the completion of the transaction, the chief accounting officer now directly owns 16,687 shares of the company’s stock, valued at approximately $2,356,705.01. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jason T. Liberty sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $139.63, for a total transaction of $6,981,500.00. Following the transaction, the chief executive officer now directly owns 153,017 shares of the company’s stock, valued at $21,365,763.71. The disclosure for this sale can be found here. Over the last quarter, insiders sold 152,884 shares of company stock worth $22,052,985. Company insiders own 7.95% of the company’s stock.

Institutional Trading of Royal Caribbean Cruises

Hedge funds and other institutional investors have recently bought and sold shares of the company. BKM Wealth Management LLC acquired a new position in shares of Royal Caribbean Cruises in the 4th quarter valued at $26,000. Scarborough Advisors LLC acquired a new position in shares of Royal Caribbean Cruises during the 4th quarter valued at $26,000. Creekmur Asset Management LLC acquired a new position in shares of Royal Caribbean Cruises during the 4th quarter valued at $30,000. Turtle Creek Wealth Advisors LLC acquired a new position in shares of Royal Caribbean Cruises during the 4th quarter valued at $33,000. Finally, West Branch Capital LLC lifted its holdings in shares of Royal Caribbean Cruises by 50.0% during the 4th quarter. West Branch Capital LLC now owns 300 shares of the company’s stock valued at $39,000 after acquiring an additional 100 shares in the last quarter. 87.53% of the stock is owned by hedge funds and other institutional investors.

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.