Truist Financial Raises Royal Caribbean Cruises (NYSE:RCL) Price Target to $272.00

Royal Caribbean Cruises (NYSE:RCL) had its price objective boosted by analysts at Truist Financial from $204.00 to $272.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s target price points to a potential upside of 10.62% from the company’s current price.

Several other research analysts have also recently issued reports on the stock. Sanford C. Bernstein assumed coverage on shares of Royal Caribbean Cruises in a report on Tuesday, November 26th. They set an “outperform” rating and a $290.00 target price for the company. Tigress Financial upped their target price on Royal Caribbean Cruises from $210.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Macquarie lifted their price target on Royal Caribbean Cruises from $189.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Citigroup upped their price objective on Royal Caribbean Cruises from $253.00 to $257.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. Finally, The Goldman Sachs Group boosted their target price on shares of Royal Caribbean Cruises from $220.00 to $245.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, Royal Caribbean Cruises presently has an average rating of “Moderate Buy” and a consensus target price of $228.63.

Royal Caribbean Cruises Stock Performance

Shares of RCL opened at $245.89 on Monday. The company has a debt-to-equity ratio of 2.63, a quick ratio of 0.16 and a current ratio of 0.19. The stock has a 50-day moving average of $210.95 and a two-hundred day moving average of $176.74. The stock has a market cap of $66.11 billion, a P/E ratio of 25.27, a P/E/G ratio of 0.65 and a beta of 2.59. Royal Caribbean Cruises has a one year low of $110.66 and a one year high of $249.52.

Royal Caribbean Cruises (NYSE:RCL) last released its earnings results on Tuesday, October 29th. The company reported $5.20 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $4.89 billion. During the same quarter in the previous year, the company posted $3.85 earnings per share. The company’s revenue was up 17.5% compared to the same quarter last year. As a group, research analysts predict that Royal Caribbean Cruises will post 11.64 EPS for the current year.

Insider Transactions at Royal Caribbean Cruises

In related news, Director Arne Alexander Wilhelmsen sold 139,353 shares of Royal Caribbean Cruises stock in a transaction that occurred on Thursday, November 21st. The shares were sold at an average price of $237.89, for a total value of $33,150,685.17. Following the completion of the transaction, the director now owns 18,167,507 shares in the company, valued at approximately $4,321,868,240.23. The trade was a 0.76 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Richard D. Fain sold 25,000 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $210.02, for a total transaction of $5,250,500.00. Following the sale, the director now owns 204,521 shares in the company, valued at approximately $42,953,500.42. This trade represents a 10.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 404,332 shares of company stock worth $94,299,521. 7.95% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Royal Caribbean Cruises

Large investors have recently bought and sold shares of the stock. Oddo BHF Asset Management Sas acquired a new stake in Royal Caribbean Cruises in the third quarter valued at approximately $1,447,000. American Trust acquired a new stake in shares of Royal Caribbean Cruises in the 3rd quarter valued at $204,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Royal Caribbean Cruises during the 3rd quarter worth $109,000. World Investment Advisors LLC acquired a new position in shares of Royal Caribbean Cruises during the third quarter worth $7,107,000. Finally, Sanctuary Advisors LLC increased its holdings in Royal Caribbean Cruises by 76.1% in the third quarter. Sanctuary Advisors LLC now owns 28,991 shares of the company’s stock valued at $5,142,000 after buying an additional 12,530 shares during the last quarter. Hedge funds and other institutional investors own 87.53% of the company’s stock.

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.