The Goldman Sachs Group Boosts Royal Caribbean Cruises (NYSE:RCL) Price Target to $275.00

Royal Caribbean Cruises (NYSE:RCL) had its target price increased by The Goldman Sachs Group from $245.00 to $275.00 in a research note released on Tuesday morning,Benzinga reports. They currently have a buy rating on the stock.

RCL has been the topic of several other reports. JPMorgan Chase & Co. boosted their price target on Royal Caribbean Cruises from $213.00 to $243.00 and gave the company an “overweight” rating in a research note on Tuesday, October 29th. Tigress Financial upped their price objective on Royal Caribbean Cruises from $210.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Macquarie upped their price objective on Royal Caribbean Cruises from $189.00 to $250.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Citigroup upped their price objective on Royal Caribbean Cruises from $253.00 to $257.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Wells Fargo & Company upped their price objective on Royal Caribbean Cruises from $180.00 to $232.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $235.50.

Royal Caribbean Cruises Trading Down 0.6 %

Shares of RCL opened at $245.60 on Tuesday. Royal Caribbean Cruises has a 12-month low of $113.10 and a 12-month high of $258.70. The company has a quick ratio of 0.16, a current ratio of 0.19 and a debt-to-equity ratio of 2.63. The firm has a market capitalization of $66.04 billion, a price-to-earnings ratio of 25.24, a P/E/G ratio of 0.68 and a beta of 2.59. The stock’s 50-day moving average price is $216.77 and its 200 day moving average price is $179.65.

Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $5.20 earnings per share (EPS) for the quarter, beating the consensus estimate 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 period in the previous year, the company posted $3.85 earnings per share. The company’s quarterly revenue was up 17.5% compared to the same quarter last year. As a group, research analysts predict that Royal Caribbean Cruises will post 11.65 earnings per share for the current year.

Insiders Place Their Bets

In other news, EVP Harri U. Kulovaara sold 3,256 shares of the firm’s stock in a transaction on Wednesday, November 20th. The stock was sold at an average price of $234.62, for a total value of $763,922.72. Following the transaction, the executive vice president now directly owns 22,348 shares in the company, valued at $5,243,287.76. This trade represents a 12.72 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Richard D. Fain sold 25,000 shares of the firm’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $210.02, for a total value of $5,250,500.00. Following the completion of the transaction, the director now owns 204,521 shares in the company, valued at $42,953,500.42. This represents a 10.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 404,332 shares of company stock valued at $94,299,521. 7.95% of the stock is currently owned by corporate insiders.

Institutional Trading of Royal Caribbean Cruises

Several hedge funds have recently added to or reduced their stakes in the business. Dimensional Fund Advisors LP raised its stake in Royal Caribbean Cruises by 24.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,048,501 shares of the company’s stock worth $326,616,000 after buying an additional 400,565 shares during the period. D1 Capital Partners L.P. raised its stake in Royal Caribbean Cruises by 3.8% during the 3rd quarter. D1 Capital Partners L.P. now owns 1,570,262 shares of the company’s stock worth $278,502,000 after buying an additional 58,159 shares during the period. Swiss National Bank raised its stake in Royal Caribbean Cruises by 0.5% during the 3rd quarter. Swiss National Bank now owns 725,638 shares of the company’s stock worth $128,699,000 after buying an additional 3,800 shares during the period. Disciplined Growth Investors Inc. MN raised its stake in Royal Caribbean Cruises by 2.3% during the 3rd quarter. Disciplined Growth Investors Inc. MN now owns 591,552 shares of the company’s stock worth $104,918,000 after buying an additional 13,520 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. raised its stake in Royal Caribbean Cruises by 0.3% during the 2nd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 570,587 shares of the company’s stock worth $90,969,000 after buying an additional 1,865 shares during the period. Institutional investors and hedge funds own 87.53% of the company’s stock.

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.