Wells Fargo & Company Increases Royal Caribbean Cruises (NYSE:RCL) Price Target to $159.00

Royal Caribbean Cruises (NYSE:RCL) had its price objective lifted by research analysts at Wells Fargo & Company from $153.00 to $159.00 in a research report issued to clients and investors on Friday, Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price points to a potential upside of 13.64% from the company’s current price.

Other analysts also recently issued reports about the company. The Goldman Sachs Group restated a “buy” rating on shares of Royal Caribbean Cruises in a report on Monday, April 1st. Susquehanna lifted their target price on Royal Caribbean Cruises from $150.00 to $160.00 and gave the company a “positive” rating in a research note on Friday. Barclays lifted their target price on Royal Caribbean Cruises from $154.00 to $165.00 and gave the company an “overweight” rating in a research note on Friday. Macquarie lifted their target price on Royal Caribbean Cruises from $145.00 to $160.00 and gave the company an “outperform” rating in a research note on Friday, March 15th. Finally, Stifel Nicolaus lifted their target price on Royal Caribbean Cruises from $170.00 to $174.00 and gave the company a “buy” rating in a research note on Thursday, February 22nd. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, Royal Caribbean Cruises presently has a consensus rating of “Moderate Buy” and a consensus target price of $138.76.

Royal Caribbean Cruises Stock Up 1.8 %

Shares of RCL stock traded up $2.45 on Friday, hitting $139.92. The stock had a trading volume of 1,773,064 shares, compared to its average volume of 2,773,194. The company has a quick ratio of 0.16, a current ratio of 0.19 and a debt-to-equity ratio of 4.03. The business has a 50 day moving average price of $129.71 and a 200 day moving average price of $117.11. The company has a market cap of $35.91 billion, a PE ratio of 22.48, a P/E/G ratio of 0.50 and a beta of 2.52. Royal Caribbean Cruises has a one year low of $59.38 and a one year high of $141.70.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings data on Thursday, April 25th. The company reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.44. The firm had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.69 billion. Royal Caribbean Cruises had a return on equity of 45.55% and a net margin of 12.22%. The firm’s quarterly revenue was up 29.2% on a year-over-year basis. During the same period in the previous year, the company posted ($0.23) earnings per share. Research analysts anticipate that Royal Caribbean Cruises will post 10.06 earnings per share for the current fiscal year.

Insider Buying and Selling at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, CEO Michael W. Bayley sold 11,753 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $116.01, for a total value of $1,363,465.53. Following the completion of the transaction, the chief executive officer now directly owns 166,537 shares of the company’s stock, valued at $19,319,957.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 8.70% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the stock. Norges Bank acquired a new position in shares of Royal Caribbean Cruises during the 4th quarter worth approximately $323,251,000. Eagle Asset Management Inc. acquired a new position in shares of Royal Caribbean Cruises during the 4th quarter worth approximately $79,392,000. Vanguard Group Inc. raised its stake in shares of Royal Caribbean Cruises by 2.0% during the 3rd quarter. Vanguard Group Inc. now owns 24,917,423 shares of the company’s stock worth $2,295,891,000 after buying an additional 487,327 shares during the period. Vaughan Nelson Investment Management L.P. acquired a new position in shares of Royal Caribbean Cruises during the 1st quarter worth approximately $66,279,000. Finally, Jupiter Asset Management Ltd. raised its stake in shares of Royal Caribbean Cruises by 476.1% during the 3rd quarter. Jupiter Asset Management Ltd. now owns 470,816 shares of the company’s stock worth $43,381,000 after buying an additional 389,095 shares during the period. 87.53% of the stock is owned by institutional investors and hedge funds.

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.