Royal Caribbean Cruises (NYSE:RCL) Sets New 12-Month High Following Analyst Upgrade

Royal Caribbean Cruises Ltd. (NYSE:RCL)’s share price hit a new 52-week high during mid-day trading on Monday after Truist Financial raised their price target on the stock from $204.00 to $272.00. Truist Financial currently has a buy rating on the stock. Royal Caribbean Cruises traded as high as $249.00 and last traded at $248.14, with a volume of 109522 shares changing hands. The stock had previously closed at $244.06.

Other equities analysts also recently issued research reports about the stock. Citigroup increased their price target on shares of Royal Caribbean Cruises from $253.00 to $257.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Bank of America increased their price target on shares of Royal Caribbean Cruises from $210.00 to $240.00 and gave the company a “neutral” rating in a report on Wednesday, November 13th. The Goldman Sachs Group raised their target price on shares of Royal Caribbean Cruises from $220.00 to $245.00 and gave the company a “buy” rating in a report on Wednesday, October 30th. Barclays raised their target price on shares of Royal Caribbean Cruises from $244.00 to $245.00 and gave the company an “overweight” rating in a report on Wednesday, October 30th. Finally, Macquarie raised their target price 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 investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $228.63.

Insider Buying and Selling at Royal Caribbean Cruises

In related news, Director Arne Alexander Wilhelmsen sold 230,000 shares of Royal Caribbean Cruises stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $233.62, for a total transaction of $53,732,600.00. Following the transaction, the director now owns 18,556,860 shares in the company, valued at approximately $4,335,253,633.20. The trade was a 1.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Richard D. Fain sold 25,000 shares of Royal Caribbean Cruises stock in a transaction on Wednesday, October 30th. The shares were sold at an average price of $210.02, for a total transaction of $5,250,500.00. Following the transaction, the director now owns 204,521 shares in the company, valued at $42,953,500.42. The trade was a 10.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 404,332 shares of company stock worth $94,299,521 in the last quarter. 7.95% of the stock is owned by insiders.

Institutional Investors Weigh In On Royal Caribbean Cruises

A number of institutional investors have recently modified their holdings of the business. American Trust bought a new stake in shares of Royal Caribbean Cruises during the 3rd quarter valued at about $204,000. Wilmington Savings Fund Society FSB bought a new stake in shares of Royal Caribbean Cruises during the 3rd quarter valued at about $109,000. World Investment Advisors LLC acquired a new position in Royal Caribbean Cruises during the 3rd quarter valued at about $7,107,000. Sanctuary Advisors LLC boosted its stake in Royal Caribbean Cruises by 76.1% during the 3rd quarter. Sanctuary Advisors LLC now owns 28,991 shares of the company’s stock valued at $5,142,000 after purchasing an additional 12,530 shares during the period. Finally, Anchor Investment Management LLC boosted its stake in Royal Caribbean Cruises by 175.0% during the 3rd quarter. Anchor Investment Management LLC now owns 319 shares of the company’s stock valued at $57,000 after purchasing an additional 203 shares during the period. Institutional investors own 87.53% of the company’s stock.

Royal Caribbean Cruises Price Performance

The company has a debt-to-equity ratio of 2.63, a quick ratio of 0.16 and a current ratio of 0.19. The business’s 50 day simple moving average is $208.22 and its 200-day simple moving average is $175.28. The stock has a market capitalization of $66.10 billion, a price-to-earnings ratio of 25.40, a price-to-earnings-growth ratio of 0.64 and a beta of 2.59.

Royal Caribbean Cruises (NYSE:RCL) last posted its earnings results on Tuesday, October 29th. The company reported $5.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.05 by $0.15. The firm had revenue of $4.89 billion during the quarter, compared to analyst estimates of $4.89 billion. Royal Caribbean Cruises had a net margin of 16.21% and a return on equity of 52.92%. Royal Caribbean Cruises’s revenue was up 17.5% on a year-over-year basis. During the same period in the previous year, the business posted $3.85 EPS. Research analysts anticipate that Royal Caribbean Cruises Ltd. will post 11.65 earnings per share for the current year.

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.