Royal Caribbean Cruises (NYSE:RCL) Price Target Raised to $159.00

Royal Caribbean Cruises (NYSE:RCL) had its price objective hoisted by Wells Fargo & Company from $153.00 to $159.00 in a research note released on Friday morning, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

Several other analysts also recently issued reports on the stock. Macquarie lifted their price target on shares of Royal Caribbean Cruises from $145.00 to $160.00 and gave the company an outperform rating in a research report on Friday, March 15th. Stifel Nicolaus raised their price objective on shares of Royal Caribbean Cruises from $170.00 to $174.00 and gave the company a buy rating in a research note on Thursday, February 22nd. Barclays boosted their target price on shares of Royal Caribbean Cruises from $154.00 to $165.00 and gave the stock an overweight rating in a research report on Friday. Morgan Stanley raised their price target on shares of Royal Caribbean Cruises from $100.00 to $115.00 and gave the company an equal weight rating in a research report on Wednesday, February 7th. Finally, The Goldman Sachs Group reissued a buy rating on shares of Royal Caribbean Cruises in a report on Monday, April 1st. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, Royal Caribbean Cruises currently has a consensus rating of Moderate Buy and an average price target of $138.76.

Royal Caribbean Cruises Price Performance

Shares of NYSE RCL opened at $143.35 on Friday. 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’s 50-day moving average price is $130.74 and its 200-day moving average price is $118.25. The firm has a market capitalization of $36.89 billion, a P/E ratio of 18.47, a P/E/G ratio of 0.47 and a beta of 2.52. Royal Caribbean Cruises has a 1-year low of $65.10 and a 1-year high of $143.62.

Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings results on Thursday, April 25th. The company reported $1.77 earnings per share for the quarter, topping 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 business had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.69 billion. During the same period in the prior year, the business earned ($0.23) EPS. The firm’s revenue for the quarter was up 29.2% on a year-over-year basis. Equities research analysts anticipate that Royal Caribbean Cruises will post 10.8 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Michael W. Bayley sold 11,753 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $116.01, for a total value of $1,363,465.53. Following the transaction, the chief executive officer now directly owns 166,537 shares of the company’s stock, valued at approximately $19,319,957.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Michael W. Bayley sold 11,753 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $116.01, for a total transaction of $1,363,465.53. Following the completion of the sale, the chief executive officer now owns 166,537 shares in the company, valued at approximately $19,319,957.37. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jason T. Liberty sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $139.63, for a total value of $6,981,500.00. Following the completion of the transaction, the chief executive officer now owns 153,017 shares in the company, valued at approximately $21,365,763.71. The disclosure for this sale can be found here. Insiders own 8.70% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in RCL. BKM Wealth Management LLC purchased a new stake in Royal Caribbean Cruises during the fourth quarter valued at about $26,000. Scarborough Advisors LLC purchased a new stake in shares of Royal Caribbean Cruises during the 4th quarter valued at approximately $26,000. ST Germain D J Co. Inc. boosted its holdings in Royal Caribbean Cruises by 65.0% in the 3rd quarter. ST Germain D J Co. Inc. now owns 330 shares of the company’s stock worth $30,000 after buying an additional 130 shares during the period. Creekmur Asset Management LLC purchased a new position in Royal Caribbean Cruises in the 4th quarter valued at approximately $30,000. Finally, Turtle Creek Wealth Advisors LLC bought a new stake in Royal Caribbean Cruises during the 4th quarter valued at $33,000. 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.