Royal Caribbean Cruises (NYSE:RCL) Price Target Lowered to $245.00 at The Goldman Sachs Group

Royal Caribbean Cruises (NYSE:RCL) had its price objective lowered by stock analysts at The Goldman Sachs Group from $305.00 to $245.00 in a research note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective would indicate a potential upside of 15.84% from the stock’s previous close.

Several other research firms have also recently commented on RCL. Stifel Nicolaus decreased their price target on shares of Royal Caribbean Cruises from $310.00 to $265.00 and set a “buy” rating on the stock in a research note on Tuesday, April 8th. Barclays decreased their price objective on Royal Caribbean Cruises from $308.00 to $249.00 and set an “overweight” rating on the stock in a research report on Tuesday. Argus lifted their target price on Royal Caribbean Cruises from $280.00 to $305.00 and gave the company a “buy” rating in a research note on Wednesday, January 29th. Macquarie upped their price target on Royal Caribbean Cruises from $250.00 to $300.00 and gave the company an “outperform” rating in a research note on Thursday, January 30th. Finally, BNP Paribas assumed coverage on Royal Caribbean Cruises in a research report on Thursday, March 27th. They issued an “outperform” rating and a $262.00 price objective for the company. Four investment analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $272.53.

Royal Caribbean Cruises Trading Up 1.9 %

Shares of RCL opened at $211.49 on Wednesday. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.15 and a current ratio of 0.17. The company has a market cap of $57.42 billion, a price-to-earnings ratio of 19.78, a PEG ratio of 0.90 and a beta of 2.26. The stock has a fifty day moving average price of $212.88 and a two-hundred day moving average price of $226.18. Royal Caribbean Cruises has a 52-week low of $130.08 and a 52-week high of $277.08.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings results on Tuesday, January 28th. The company reported $1.63 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.50 by $0.13. Royal Caribbean Cruises had a return on equity of 48.97% and a net margin of 17.46%. During the same period in the previous year, the business earned $1.25 earnings per share. Analysts predict that Royal Caribbean Cruises will post 14.9 EPS for the current fiscal year.

Royal Caribbean Cruises announced that its board has initiated a share repurchase program on Wednesday, February 12th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to repurchase up to 1.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its shares are undervalued.

Insiders Place Their Bets

In other Royal Caribbean Cruises news, Director Richard D. Fain sold 19,500 shares of Royal Caribbean Cruises stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $256.68, for a total value of $5,005,260.00. Following the sale, the director now owns 185,021 shares of the company’s stock, valued at $47,491,190.28. This trade represents a 9.53 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Naftali Holtz sold 17,000 shares of the business’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $261.62, for a total value of $4,447,540.00. Following the completion of the sale, the chief financial officer now owns 42,127 shares in the company, valued at approximately $11,021,265.74. This trade represents a 28.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 109,492 shares of company stock worth $28,571,705. Company insiders own 7.95% of the company’s stock.

Hedge Funds Weigh In On Royal Caribbean Cruises

Hedge funds have recently made changes to their positions in the business. Venturi Wealth Management LLC boosted its holdings in Royal Caribbean Cruises by 511.0% during the fourth quarter. Venturi Wealth Management LLC now owns 2,157 shares of the company’s stock worth $498,000 after purchasing an additional 1,804 shares during the last quarter. Park Avenue Securities LLC lifted its position in Royal Caribbean Cruises by 20.1% during the 4th quarter. Park Avenue Securities LLC now owns 6,630 shares of the company’s stock worth $1,530,000 after buying an additional 1,111 shares in the last quarter. Lorne Steinberg Wealth Management Inc. acquired a new position in shares of Royal Caribbean Cruises during the 4th quarter worth about $231,000. Geode Capital Management LLC grew its holdings in shares of Royal Caribbean Cruises by 6.3% in the 4th quarter. Geode Capital Management LLC now owns 5,969,532 shares of the company’s stock valued at $1,373,856,000 after acquiring an additional 353,893 shares in the last quarter. Finally, Principal Financial Group Inc. increased its position in shares of Royal Caribbean Cruises by 2.7% in the fourth quarter. Principal Financial Group Inc. now owns 291,027 shares of the company’s stock valued at $67,137,000 after acquiring an additional 7,740 shares during the last quarter. 87.53% of the stock is owned by 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.