Royal Caribbean Cruises (NYSE:RCL) Price Target Raised to $213.00 at JPMorgan Chase & Co.

Royal Caribbean Cruises (NYSE:RCL) had its price objective hoisted by research analysts at JPMorgan Chase & Co. from $210.00 to $213.00 in a report released on Monday, Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 23.93% from the stock’s current price.

Other analysts have also recently issued reports about the stock. Citigroup upped their price target on shares of Royal Caribbean Cruises from $165.00 to $204.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Truist Financial raised their price target on Royal Caribbean Cruises from $151.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday, May 29th. Susquehanna boosted their price objective on Royal Caribbean Cruises from $160.00 to $180.00 and gave the company a “positive” rating in a research note on Tuesday, July 30th. Mizuho lifted their target price on Royal Caribbean Cruises from $168.00 to $195.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Finally, Macquarie raised their price objective on shares of Royal Caribbean Cruises from $165.00 to $189.00 and gave the company an “outperform” rating in a research report on Tuesday, July 30th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $182.31.

Royal Caribbean Cruises Stock Performance

RCL traded up $3.91 during midday trading on Monday, reaching $171.87. The company had a trading volume of 774,338 shares, compared to its average volume of 2,494,816. The business has a 50-day moving average price of $159.74 and a two-hundred day moving average price of $147.94. The company has a debt-to-equity ratio of 3.20, a quick ratio of 0.17 and a current ratio of 0.19. Royal Caribbean Cruises has a 12-month low of $78.35 and a 12-month high of $173.40. The stock has a market cap of $44.23 billion, a PE ratio of 22.15, a P/E/G ratio of 0.47 and a beta of 2.61.

Royal Caribbean Cruises (NYSE:RCL) last issued its earnings results on Thursday, July 25th. The company reported $3.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.76 by $0.45. Royal Caribbean Cruises had a return on equity of 52.49% and a net margin of 16.32%. The firm had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.05 billion. During the same period in the previous year, the company posted $1.82 earnings per share. The business’s revenue was up 16.4% on a year-over-year basis. On average, sell-side analysts expect that Royal Caribbean Cruises will post 11.65 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Laura H. Bethge sold 3,073 shares of the stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $168.71, for a total value of $518,445.83. Following the completion of the transaction, the insider now directly owns 27,388 shares of the company’s stock, valued at $4,620,629.48. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, insider Laura H. Bethge sold 3,073 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $168.71, for a total value of $518,445.83. Following the sale, the insider now directly owns 27,388 shares of the company’s stock, valued at $4,620,629.48. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Vagn O. Sorensen sold 5,800 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $158.50, for a total value of $919,300.00. Following the transaction, the director now directly owns 25,837 shares of the company’s stock, valued at approximately $4,095,164.50. The disclosure for this sale can be found here. 7.95% of the stock is currently owned by insiders.

Institutional Trading of Royal Caribbean Cruises

A number of hedge funds have recently made changes to their positions in the stock. Envestnet Portfolio Solutions Inc. grew its stake in shares of Royal Caribbean Cruises by 2.8% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 5,162 shares of the company’s stock worth $668,000 after acquiring an additional 140 shares during the last quarter. Quadrant Capital Group LLC increased its position in shares of Royal Caribbean Cruises by 19.0% during the fourth quarter. Quadrant Capital Group LLC now owns 1,788 shares of the company’s stock valued at $232,000 after acquiring an additional 285 shares in the last quarter. ING Groep NV lifted its position in Royal Caribbean Cruises by 294.2% in the 4th quarter. ING Groep NV now owns 32,273 shares of the company’s stock valued at $4,179,000 after acquiring an additional 24,086 shares in the last quarter. Norges Bank purchased a new stake in Royal Caribbean Cruises during the 4th quarter valued at $323,251,000. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Royal Caribbean Cruises by 1.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 46,653 shares of the company’s stock worth $6,041,000 after purchasing an additional 527 shares in the last quarter. 87.53% of the stock is owned by 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.