Royal Caribbean Cruises (NYSE:RCL) Earns “Outperform” Rating from Mizuho

Royal Caribbean Cruises (NYSE:RCL)‘s stock had its “outperform” rating reiterated by equities research analysts at Mizuho in a note issued to investors on Thursday,Benzinga reports. They currently have a $253.00 price target on the stock, down from their prior price target of $255.00. Mizuho’s price objective points to a potential upside of 7.29% from the company’s current price.

Several other analysts have also weighed in on RCL. Macquarie upped their target price on Royal Caribbean Cruises from $189.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Barclays upped their price objective on Royal Caribbean Cruises from $245.00 to $287.00 and gave the company an “overweight” rating in a research report on Friday, December 13th. Stifel Nicolaus upped their price objective on Royal Caribbean Cruises from $250.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Sanford C. Bernstein initiated coverage on Royal Caribbean Cruises in a research report on Tuesday, November 26th. They issued an “outperform” rating and a $290.00 price objective on the stock. Finally, Bank of America upped their price objective on Royal Caribbean Cruises from $210.00 to $240.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Royal Caribbean Cruises has an average rating of “Moderate Buy” and a consensus target price of $250.13.

Royal Caribbean Cruises Trading Down 3.1 %

NYSE:RCL opened at $235.82 on Thursday. The stock’s 50 day simple moving average is $237.63 and its 200-day simple moving average is $197.71. Royal Caribbean Cruises has a 12-month low of $113.10 and a 12-month high of $258.70. The firm has a market cap of $63.41 billion, a P/E ratio of 24.24, a PEG ratio of 0.52 and a beta of 2.59. 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 announced its quarterly earnings data on Tuesday, October 29th. The company reported $5.20 earnings per share 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 for the quarter, compared to analyst estimates of $4.89 billion. During the same quarter in the prior year, the company posted $3.85 earnings per share. Royal Caribbean Cruises’s quarterly revenue was up 17.5% on a year-over-year basis. Equities analysts anticipate that Royal Caribbean Cruises will post 11.66 EPS for the current year.

Insiders Place Their Bets

In other news, Director Arne Alexander Wilhelmsen sold 230,000 shares of the stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $233.62, for a total value of $53,732,600.00. Following the completion of the sale, the director now owns 18,556,860 shares in the company, valued at approximately $4,335,253,633.20. This trade represents a 1.22 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Henry L. Pujol sold 6,723 shares of the stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $208.51, for a total value of $1,401,812.73. Following the completion of the sale, the chief accounting officer now owns 9,964 shares of the company’s stock, valued at approximately $2,077,593.64. This trade represents a 40.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 404,332 shares of company stock worth $94,299,521 over the last three months. 7.95% of the stock is owned by insiders.

Institutional Investors Weigh In On Royal Caribbean Cruises

A number of large investors have recently modified their holdings of the stock. International Assets Investment Management LLC grew its stake in Royal Caribbean Cruises by 10,599.0% during the 3rd quarter. International Assets Investment Management LLC now owns 409,879 shares of the company’s stock valued at $72,696,000 after purchasing an additional 406,048 shares in the last quarter. Teachers Retirement System of The State of Kentucky grew its stake in Royal Caribbean Cruises by 809.6% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 173,124 shares of the company’s stock valued at $27,601,000 after purchasing an additional 154,090 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its stake in Royal Caribbean Cruises by 138.2% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 161,835 shares of the company’s stock valued at $28,703,000 after purchasing an additional 93,899 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Royal Caribbean Cruises during the 3rd quarter valued at approximately $14,544,000. Finally, Dakota Wealth Management grew its stake in Royal Caribbean Cruises by 3,935.2% during the 3rd quarter. Dakota Wealth Management now owns 76,871 shares of the company’s stock valued at $13,635,000 after purchasing an additional 74,966 shares in the last quarter. Institutional investors and hedge funds 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.