Citigroup Forecasts Strong Price Appreciation for Royal Caribbean Cruises (NYSE:RCL) Stock

Royal Caribbean Cruises (NYSE:RCL) had its price target upped by analysts at Citigroup from $257.00 to $283.00 in a report issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s target price would suggest a potential upside of 14.85% from the company’s current price.

A number of other analysts have also recently commented on RCL. Truist Financial lifted their price objective on shares of Royal Caribbean Cruises from $204.00 to $272.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. The Goldman Sachs Group boosted their price objective on Royal Caribbean Cruises from $245.00 to $275.00 and gave the stock a “buy” rating in a research note on Tuesday. Stifel Nicolaus boosted their price objective on shares of Royal Caribbean Cruises from $250.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, December 6th. JPMorgan Chase & Co. upped their price objective on shares of Royal Caribbean Cruises from $213.00 to $243.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 29th. Finally, Macquarie boosted their price target on shares of Royal Caribbean Cruises from $189.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $237.13.

Royal Caribbean Cruises Stock Up 0.3 %

Shares of RCL traded up $0.74 during trading hours on Wednesday, reaching $246.40. The stock had a trading volume of 795,232 shares, compared to its average volume of 2,325,104. The firm has a 50-day simple moving average of $218.22 and a 200 day simple moving average of $180.34. The company has a current ratio of 0.19, a quick ratio of 0.16 and a debt-to-equity ratio of 2.63. The company has a market capitalization of $66.25 billion, a price-to-earnings ratio of 25.32, a P/E/G ratio of 0.68 and a beta of 2.59. Royal Caribbean Cruises has a 12 month low of $113.10 and a 12 month high of $258.70.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings data on Tuesday, October 29th. The company reported $5.20 EPS for the quarter, topping the consensus estimate of $5.05 by $0.15. The firm had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.89 billion. Royal Caribbean Cruises had a return on equity of 52.92% and a net margin of 16.21%. The company’s quarterly revenue was up 17.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.85 earnings per share. Equities research analysts predict that Royal Caribbean Cruises will post 11.65 earnings per share for the current fiscal year.

Insider Buying and Selling at Royal Caribbean Cruises

In other news, EVP Harri U. Kulovaara sold 3,256 shares of the stock in a transaction 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 completion of the sale, the executive vice president now owns 22,348 shares in the company, valued at approximately $5,243,287.76. This represents a 12.72 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard D. Fain sold 25,000 shares of the company’s stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $210.02, for a total value of $5,250,500.00. Following the transaction, the director now directly owns 204,521 shares in the company, valued at $42,953,500.42. The trade was a 10.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 404,332 shares of company stock valued at $94,299,521 over the last ninety days. Corporate insiders own 7.95% of the company’s stock.

Institutional Investors Weigh In On Royal Caribbean Cruises

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

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.