Royal Caribbean Cruises (NYSE:RCL) Reaches New 52-Week High After Analyst Upgrade

Royal Caribbean Cruises Ltd. (NYSE:RCL) shares reached a new 52-week high during trading on Tuesday after JPMorgan Chase & Co. raised their price target on the stock from $173.00 to $175.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Royal Caribbean Cruises traded as high as $158.09 and last traded at $157.43, with a volume of 165247 shares changing hands. The stock had previously closed at $154.52.

A number of other research firms have also recently commented on RCL. Bank of America boosted their target price on Royal Caribbean Cruises from $135.00 to $145.00 and gave the company a “neutral” rating in a report on Thursday, May 2nd. Argus increased their price objective on Royal Caribbean Cruises from $161.00 to $172.00 and gave the company a “buy” rating in a report on Wednesday, May 29th. Truist Financial lifted their target price on shares of Royal Caribbean Cruises from $151.00 to $175.00 and gave the company a “buy” rating in a report on Wednesday, May 29th. Macquarie raised their price objective on shares of Royal Caribbean Cruises from $145.00 to $160.00 and gave the stock an “outperform” rating in a research report on Friday, March 15th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Royal Caribbean Cruises in a report on Monday, April 1st. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Royal Caribbean Cruises has a consensus rating of “Moderate Buy” and a consensus price target of $156.31.

Insider Transactions at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, Director Richard D. Fain sold 19,584 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $153.96, for a total transaction of $3,015,152.64. Following the completion of the sale, the director now directly owns 179,117 shares in the company, valued at $27,576,853.32. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Michael W. Bayley sold 49,155 shares of the company’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $147.67, for a total transaction of $7,258,718.85. Following the sale, the chief executive officer now directly owns 49,695 shares of the company’s stock, valued at approximately $7,338,460.65. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Richard D. Fain sold 19,584 shares of Royal Caribbean Cruises stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $153.96, for a total transaction of $3,015,152.64. Following the completion of the transaction, the director now directly owns 179,117 shares of the company’s stock, valued at approximately $27,576,853.32. The disclosure for this sale can be found here. Insiders have sold a total of 152,884 shares of company stock worth $22,052,985 in the last three months. 7.95% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Royal Caribbean Cruises

A number of institutional investors have recently modified their holdings of RCL. Norges Bank acquired a new position in Royal Caribbean Cruises in the fourth quarter valued at approximately $323,251,000. Eagle Asset Management Inc. acquired a new position in Royal Caribbean Cruises during the 4th quarter valued at approximately $79,392,000. Vanguard Group Inc. grew its stake in Royal Caribbean Cruises by 2.0% during the 3rd quarter. Vanguard Group Inc. now owns 24,917,423 shares of the company’s stock worth $2,295,891,000 after buying an additional 487,327 shares during the last quarter. Vaughan Nelson Investment Management L.P. acquired a new stake in Royal Caribbean Cruises in the first quarter worth $66,279,000. Finally, Junto Capital Management LP acquired a new position in shares of Royal Caribbean Cruises during the fourth quarter valued at $47,950,000. Institutional investors own 87.53% of the company’s stock.

Royal Caribbean Cruises Stock Up 3.2 %

The company has a quick ratio of 0.16, a current ratio of 0.19 and a debt-to-equity ratio of 3.54. The firm’s 50-day moving average price is $144.78 and its 200 day moving average price is $132.64. The firm has a market cap of $41.05 billion, a P/E ratio of 19.91, a price-to-earnings-growth ratio of 0.46 and a beta of 2.56.

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

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.