Royal Caribbean Cruises (NYSE:RCL) Price Target Cut to $130.00

Royal Caribbean Cruises (NYSE:RCL) had its price target lowered by analysts at Stifel Nicolaus from $135.00 to $130.00 in a research report issued to clients and investors on Friday, MarketBeat reports. The firm presently has a “buy” rating on the stock. Stifel Nicolaus’ target price would indicate a potential upside of 33.44% from the company’s current price.

A number of other brokerages also recently weighed in on RCL. StockNews.com started coverage on shares of Royal Caribbean Cruises in a research report on Thursday, August 17th. They set a “hold” rating for the company. Bank of America upped their target price on shares of Royal Caribbean Cruises from $82.00 to $95.00 in a research report on Monday, June 12th. Argus upped their target price on shares of Royal Caribbean Cruises from $88.00 to $92.00 in a research report on Wednesday, May 31st. VNET Group restated a “maintains” rating on shares of Royal Caribbean Cruises in a research report on Monday, June 12th. Finally, JPMorgan Chase & Co. upped their target price on shares of Royal Caribbean Cruises from $100.00 to $103.00 in a research report on Monday, June 12th. Five investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $110.69.

Royal Caribbean Cruises Stock Performance

Shares of Royal Caribbean Cruises stock opened at $97.42 on Friday. The firm has a market cap of $24.96 billion, a PE ratio of -304.43 and a beta of 2.47. The firm’s 50-day simple moving average is $101.25 and its 200-day simple moving average is $85.22. The company has a debt-to-equity ratio of 5.28, a quick ratio of 0.18 and a current ratio of 0.20. Royal Caribbean Cruises has a 1 year low of $36.92 and a 1 year high of $112.95.

Royal Caribbean Cruises (NYSE:RCL) last issued its earnings results on Thursday, July 27th. The company reported $1.82 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.24. Royal Caribbean Cruises had a negative net margin of 0.47% and a positive return on equity of 6.76%. The business had revenue of $3.52 billion for the quarter, compared to analyst estimates of $3.41 billion. During the same quarter in the prior year, the business posted ($2.08) EPS. The company’s revenue for the quarter was up 61.3% on a year-over-year basis. Equities analysts forecast that Royal Caribbean Cruises will post 6.21 earnings per share for the current fiscal year.

Insider Buying and Selling at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, CEO Michael W. Bayley sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $100.02, for a total value of $1,000,200.00. Following the transaction, the chief executive officer now directly owns 102,191 shares in the company, valued at $10,221,143.82. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Royal Caribbean Cruises news, CFO Naftali Holtz sold 5,949 shares of the business’s stock in a transaction dated Friday, July 28th. The shares were sold at an average price of $110.62, for a total value of $658,078.38. Following the transaction, the chief financial officer now directly owns 30,967 shares in the company, valued at $3,425,569.54. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Michael W. Bayley sold 10,000 shares of the business’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $100.02, for a total transaction of $1,000,200.00. Following the completion of the transaction, the chief executive officer now owns 102,191 shares in the company, valued at $10,221,143.82. The disclosure for this sale can be found here. Insiders have sold a total of 44,857 shares of company stock worth $4,650,818 over the last ninety days. Corporate insiders own 8.70% of the company’s stock.

Hedge Funds Weigh In On Royal Caribbean Cruises

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund lifted its position in shares of Royal Caribbean Cruises by 0.6% during the second quarter. Oregon Public Employees Retirement Fund now owns 17,127 shares of the company’s stock worth $1,777,000 after purchasing an additional 100 shares in the last quarter. Financial Gravity Asset Management Inc. acquired a new position in shares of Royal Caribbean Cruises during the second quarter worth approximately $693,000. Huntington National Bank lifted its position in shares of Royal Caribbean Cruises by 5.2% during the second quarter. Huntington National Bank now owns 2,177 shares of the company’s stock worth $226,000 after purchasing an additional 108 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its position in shares of Royal Caribbean Cruises by 1.7% during the second quarter. B. Riley Wealth Advisors Inc. now owns 6,756 shares of the company’s stock worth $701,000 after purchasing an additional 114 shares in the last quarter. Finally, Independent Advisor Alliance lifted its position in shares of Royal Caribbean Cruises by 1.7% during the second quarter. Independent Advisor Alliance now owns 7,092 shares of the company’s stock worth $736,000 after purchasing an additional 119 shares in the last quarter. 75.64% of the stock is currently owned by institutional investors and hedge funds.

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 13, 2023, it operated 64 ships. The company was founded in 1968 and is headquartered in Miami, Florida.