Royal Caribbean Cruises (NYSE:RCL) Hits New 52-Week High – Here’s What Happened

Royal Caribbean Cruises Ltd. (NYSE:RCL) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $244.57 and last traded at $243.15, with a volume of 327534 shares traded. The stock had previously closed at $240.39.

Wall Street Analysts Forecast Growth

RCL has been the topic of a number of analyst reports. Stifel Nicolaus upped their price objective on Royal Caribbean Cruises from $200.00 to $230.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Barclays upped their price target on shares of Royal Caribbean Cruises from $244.00 to $245.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Macquarie increased their price target on shares of Royal Caribbean Cruises from $189.00 to $250.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. UBS Group boosted their price objective on shares of Royal Caribbean Cruises from $168.00 to $183.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Finally, JPMorgan Chase & Co. raised their target price on shares of Royal Caribbean Cruises from $213.00 to $243.00 and gave the company an “overweight” rating in a research note on Tuesday, October 29th. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $224.38.

Royal Caribbean Cruises Trading Down 1.2 %

The firm has a market cap of $64.97 billion, a price-to-earnings ratio of 24.83, a P/E/G ratio of 0.63 and a beta of 2.59. The firm’s 50-day moving average is $205.42 and its 200-day moving average is $173.61. The company has a current ratio of 0.19, a quick ratio of 0.16 and a debt-to-equity ratio of 2.63.

Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings data on Tuesday, October 29th. The company reported $5.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.05 by $0.15. The firm had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $4.89 billion. Royal Caribbean Cruises had a net margin of 16.21% and a return on equity of 52.92%. The business’s revenue was up 17.5% on a year-over-year basis. During the same period last year, the company earned $3.85 earnings per share. As a group, sell-side analysts anticipate that Royal Caribbean Cruises Ltd. will post 11.64 EPS for the current fiscal year.

Insiders Place Their Bets

In other Royal Caribbean Cruises news, Director Arne Alexander Wilhelmsen sold 139,353 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 18,167,507 shares of the company’s stock, valued at approximately $4,321,868,240.23. This represents a 0.76 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Harri U. Kulovaara sold 3,256 shares of Royal Caribbean Cruises stock in a transaction that occurred on Wednesday, November 20th. The stock was sold at an average price of $234.62, for a total transaction of $763,922.72. Following the transaction, the executive vice president now directly owns 22,348 shares in the company, valued at approximately $5,243,287.76. This represents a 12.72 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 404,332 shares of company stock valued at $94,299,521. Corporate insiders own 7.95% of the company’s stock.

Institutional Trading of Royal Caribbean Cruises

A number of institutional investors and hedge funds have recently modified their holdings of RCL. Wilmington Savings Fund Society FSB bought a new stake in shares of Royal Caribbean Cruises during the 3rd quarter worth $109,000. World Investment Advisors LLC purchased a new position in Royal Caribbean Cruises in the third quarter valued at about $7,107,000. Sanctuary Advisors LLC increased its stake in shares of Royal Caribbean Cruises by 76.1% during the 3rd quarter. Sanctuary Advisors LLC now owns 28,991 shares of the company’s stock worth $5,142,000 after purchasing an additional 12,530 shares during the last quarter. Anchor Investment Management LLC raised its holdings in shares of Royal Caribbean Cruises by 175.0% in the 3rd quarter. Anchor Investment Management LLC now owns 319 shares of the company’s stock worth $57,000 after purchasing an additional 203 shares during the period. Finally, SOA Wealth Advisors LLC. lifted its stake in Royal Caribbean Cruises by 33.3% in the third quarter. SOA Wealth Advisors LLC. now owns 300 shares of the company’s stock valued at $53,000 after purchasing an additional 75 shares during the last quarter. 87.53% of the stock is owned by hedge funds and other institutional investors.

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.