Royal Caribbean Cruises (NYSE:RCL) Price Target Raised to $275.00

Royal Caribbean Cruises (NYSE:RCL) had its target price hoisted by equities research analysts at Truist Financial from $272.00 to $275.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has a “buy” rating on the stock. Truist Financial’s price target indicates a potential upside of 8.99% from the stock’s current price.

RCL has been the subject of a number of other reports. Citigroup lifted their price objective on shares of Royal Caribbean Cruises from $283.00 to $304.00 and gave the stock a “buy” rating in a report on Wednesday, January 29th. UBS Group increased their price objective on Royal Caribbean Cruises from $271.00 to $301.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th. Melius Research upgraded Royal Caribbean Cruises to a “strong-buy” rating in a research report on Monday, April 21st. The Goldman Sachs Group cut their target price on Royal Caribbean Cruises from $305.00 to $245.00 and set a “buy” rating for the company in a research note on Wednesday, April 23rd. Finally, Tigress Financial lifted their price target on shares of Royal Caribbean Cruises from $270.00 to $330.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Four investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $271.45.

Royal Caribbean Cruises Price Performance

NYSE RCL traded down $3.09 during trading on Monday, reaching $252.33. The company’s stock had a trading volume of 246,186 shares, compared to its average volume of 2,285,533. The firm has a fifty day moving average of $212.05 and a 200 day moving average of $230.06. Royal Caribbean Cruises has a one year low of $130.08 and a one year high of $277.08. The stock has a market capitalization of $68.52 billion, a PE ratio of 23.64, a P/E/G ratio of 0.90 and a beta of 2.12. The company has a debt-to-equity ratio of 2.39, a current ratio of 0.17 and a quick ratio of 0.15.

Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.18. Royal Caribbean Cruises had a net margin of 17.46% and a return on equity of 48.97%. The company had revenue of $4 billion for the quarter, compared to analysts’ expectations of $4.02 billion. During the same period in the prior year, the business earned $1.77 earnings per share. Royal Caribbean Cruises’s revenue for the quarter was up 7.3% compared to the same quarter last year. Analysts expect that Royal Caribbean Cruises will post 14.9 EPS for the current fiscal year.

Royal Caribbean Cruises declared that its Board of Directors has initiated a stock repurchase plan on Wednesday, February 12th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 1.5% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Insider Activity at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, CFO Naftali Holtz sold 17,000 shares of Royal Caribbean Cruises stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $261.62, for a total transaction of $4,447,540.00. Following the sale, the chief financial officer now directly owns 42,127 shares of the company’s stock, valued at approximately $11,021,265.74. The trade was a 28.75% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Jason T. Liberty sold 58,000 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $261.95, for a total value of $15,193,100.00. Following the completion of the transaction, the chief executive officer now directly owns 143,214 shares of the company’s stock, valued at $37,514,907.30. This represents a 28.83% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 89,992 shares of company stock worth $23,566,445 over the last 90 days. 7.95% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Assenagon Asset Management S.A. grew its stake in shares of Royal Caribbean Cruises by 7.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 6,177 shares of the company’s stock worth $1,425,000 after buying an additional 438 shares during the last quarter. Merit Financial Group LLC grew its stake in shares of Royal Caribbean Cruises by 541.0% in the fourth quarter. Merit Financial Group LLC now owns 9,897 shares of the company’s stock worth $2,283,000 after acquiring an additional 8,353 shares during the last quarter. HB Wealth Management LLC grew its stake in shares of Royal Caribbean Cruises by 2.4% in the fourth quarter. HB Wealth Management LLC now owns 7,552 shares of the company’s stock worth $1,742,000 after acquiring an additional 178 shares during the last quarter. Kera Capital Partners Inc. bought a new position in shares of Royal Caribbean Cruises during the fourth quarter valued at $213,000. Finally, Aaron Wealth Advisors LLC raised its position in shares of Royal Caribbean Cruises by 6.3% in the 4th quarter. Aaron Wealth Advisors LLC now owns 2,111 shares of the company’s stock worth $487,000 after purchasing an additional 125 shares during the last quarter. 87.53% of the stock is owned by hedge funds and other 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.