JPMorgan Chase & Co. Increases Royal Caribbean Cruises (NYSE:RCL) Price Target to $295.00

Royal Caribbean Cruises (NYSE:RCL) had its target price boosted by equities researchers at JPMorgan Chase & Co. from $253.00 to $295.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 22.63% from the stock’s current price.

Several other research firms have also commented on RCL. The Goldman Sachs Group upped their price target on shares of Royal Caribbean Cruises from $245.00 to $275.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Barclays raised their price target on shares of Royal Caribbean Cruises from $245.00 to $287.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Citigroup boosted their price objective on Royal Caribbean Cruises from $257.00 to $283.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Wells Fargo & Company raised their target price on Royal Caribbean Cruises from $180.00 to $232.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. Finally, Macquarie boosted their price target on Royal Caribbean Cruises from $189.00 to $250.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Royal Caribbean Cruises has an average rating of “Moderate Buy” and an average price target of $246.50.

Royal Caribbean Cruises Stock Performance

Shares of NYSE RCL opened at $240.56 on Friday. 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’s 50-day moving average price is $236.76 and its two-hundred day moving average price is $194.81. Royal Caribbean Cruises has a 52-week low of $113.10 and a 52-week high of $258.70. The stock has a market capitalization of $64.68 billion, a P/E ratio of 24.69, a P/E/G ratio of 0.48 and a beta of 2.59.

Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $5.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.05 by $0.15. The business had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.89 billion. Royal Caribbean Cruises had a return on equity of 52.92% and a net margin of 16.21%. The business’s revenue was up 17.5% on a year-over-year basis. During the same quarter last year, the business posted $3.85 EPS. As a group, sell-side analysts forecast that Royal Caribbean Cruises will post 11.65 earnings per share for the current year.

Insider Buying and Selling

In other news, CAO Henry L. Pujol sold 6,723 shares of the company’s stock in a transaction on Wednesday, October 30th. The stock was sold at an average price of $208.51, for a total transaction of $1,401,812.73. Following the completion of the sale, the chief accounting officer now directly owns 9,964 shares of the company’s stock, valued at $2,077,593.64. This represents a 40.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Harri U. Kulovaara sold 3,256 shares of Royal Caribbean Cruises stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $234.62, for a total value of $763,922.72. Following the completion of the transaction, the executive vice president now directly owns 22,348 shares in the company, valued at $5,243,287.76. This represents a 12.72 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 404,332 shares of company stock worth $94,299,521. Corporate insiders own 7.95% of the company’s stock.

Institutional Investors Weigh In On Royal Caribbean Cruises

A number of large investors have recently made changes to their positions in RCL. D1 Capital Partners L.P. grew its position 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 purchasing an additional 58,159 shares in the last quarter. Swiss National Bank boosted its position in shares of Royal Caribbean Cruises by 0.5% in the third 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 boosted its position in shares of Royal Caribbean Cruises by 2.3% in the third 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. APG Asset Management N.V. grew its holdings in shares of Royal Caribbean Cruises by 4.0% during the second quarter. APG Asset Management N.V. now owns 461,762 shares of the company’s stock valued at $68,690,000 after buying an additional 17,601 shares in the last quarter. Finally, International Assets Investment Management LLC raised its position in Royal Caribbean Cruises by 10,599.0% during the third quarter. International Assets Investment Management LLC now owns 409,879 shares of the company’s stock valued at $72,696,000 after buying an additional 406,048 shares during the period. 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.