Barclays Increases Royal Caribbean Cruises (NYSE:RCL) Price Target to $185.00

Royal Caribbean Cruises (NYSE:RCL) had its price target hoisted by analysts at Barclays from $165.00 to $185.00 in a research note issued on Friday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price target suggests a potential upside of 11.18% from the company’s previous close.

A number of other brokerages have also recently issued reports on RCL. Macquarie lifted their price objective on shares of Royal Caribbean Cruises from $145.00 to $160.00 and gave the company an “outperform” rating in a report on Friday, March 15th. Argus boosted their price objective on Royal Caribbean Cruises from $161.00 to $172.00 and gave the stock a “buy” rating in a report on Wednesday, May 29th. Mizuho lifted their target price on Royal Caribbean Cruises from $164.00 to $168.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Citigroup increased their price target on Royal Caribbean Cruises from $165.00 to $204.00 and gave the company a “buy” rating in a research report on Wednesday, June 26th. Finally, JPMorgan Chase & Co. raised their price objective on Royal Caribbean Cruises from $173.00 to $175.00 and gave the company an “overweight” rating in a research note on Monday, June 24th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $162.38.

Royal Caribbean Cruises Price Performance

RCL stock opened at $166.40 on Friday. The company has a debt-to-equity ratio of 3.54, a current ratio of 0.19 and a quick ratio of 0.16. The company’s 50-day moving average is $151.73 and its 200-day moving average is $136.15. The stock has a market capitalization of $42.82 billion, a PE ratio of 21.44, a price-to-earnings-growth ratio of 0.50 and a beta of 2.62. Royal Caribbean Cruises has a 1 year low of $78.35 and a 1 year high of $166.66.

Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings data on Thursday, April 25th. The company reported $1.77 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.44. Royal Caribbean Cruises had a return on equity of 51.54% and a net margin of 14.28%. The firm had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.69 billion. During the same quarter last year, the firm posted ($0.23) earnings per share. The company’s revenue for the quarter was up 29.2% compared to the same quarter last year. Equities research analysts expect that Royal Caribbean Cruises will post 11.1 EPS for the current fiscal year.

Insider Buying and Selling

In other Royal Caribbean Cruises news, CAO Henry L. Pujol sold 9,944 shares of the company’s stock in a transaction dated 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 sale, the chief accounting officer now directly owns 16,687 shares of the company’s stock, valued at $2,356,705.01. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CAO Henry L. Pujol sold 9,944 shares of the company’s stock in a transaction dated Tuesday, April 30th. The stock was sold at an average price of $141.23, for a total transaction of $1,404,391.12. Following the sale, the chief accounting officer now directly owns 16,687 shares in the company, valued at $2,356,705.01. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Michael W. Bayley sold 24,201 shares of the company’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $140.21, for a total transaction of $3,393,222.21. Following the completion of the transaction, the chief executive officer now directly owns 98,850 shares in the company, valued at approximately $13,859,758.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 152,884 shares of company stock valued at $22,052,985. 7.95% of the stock is owned by insiders.

Institutional Investors Weigh In On Royal Caribbean Cruises

A number of institutional investors have recently made changes to their positions in RCL. Norges Bank bought a new position in Royal Caribbean Cruises in the 4th quarter worth $323,251,000. Eagle Asset Management Inc. purchased a new position in shares of Royal Caribbean Cruises in the fourth quarter worth approximately $79,392,000. Vanguard Group Inc. lifted its position in Royal Caribbean Cruises by 2.0% during the third quarter. Vanguard Group Inc. now owns 24,917,423 shares of the company’s stock valued at $2,295,891,000 after purchasing an additional 487,327 shares in the last quarter. Vaughan Nelson Investment Management L.P. purchased a new position in shares of Royal Caribbean Cruises during the 1st quarter valued at about $66,279,000. Finally, Junto Capital Management LP bought a new position in shares of Royal Caribbean Cruises in the fourth quarter worth approximately $47,950,000. Hedge funds and other 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.