Royal Caribbean Cruises (NYSE:RCL) PT Raised to $168.00

Royal Caribbean Cruises (NYSE:RCL) had its target price increased by Mizuho from $164.00 to $168.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. Mizuho’s price objective suggests a potential upside of 19.50% from the stock’s previous close.

A number of other research firms have also weighed in on RCL. Wells Fargo & Company upped their target price on Royal Caribbean Cruises from $151.00 to $153.00 and gave the stock an “overweight” rating in a report on Monday, February 26th. The Goldman Sachs Group restated a “buy” rating on shares of Royal Caribbean Cruises in a report on Monday, April 1st. Macquarie upped their target price on Royal Caribbean Cruises from $145.00 to $160.00 and gave the stock an “outperform” rating in a report on Friday, March 15th. Barclays upped their target price on Royal Caribbean Cruises from $154.00 to $165.00 and gave the stock an “overweight” rating in a report on Friday. Finally, Susquehanna upped their target price on Royal Caribbean Cruises from $150.00 to $160.00 and gave the stock a “positive” rating in a report on Friday. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $138.76.

Royal Caribbean Cruises Price Performance

Shares of RCL stock opened at $140.59 on Friday. The company has a debt-to-equity ratio of 3.54, a current ratio of 0.19 and a quick ratio of 0.16. The company has a market capitalization of $36.09 billion, a P/E ratio of 18.12, a P/E/G ratio of 0.47 and a beta of 2.52. The company’s 50-day simple moving average is $130.20 and its two-hundred day simple moving average is $117.67. Royal Caribbean Cruises has a one year low of $59.38 and a one year high of $141.70.

Royal Caribbean Cruises (NYSE:RCL) last issued its earnings results on Thursday, April 25th. The company reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.44. The business had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.69 billion. Royal Caribbean Cruises had a net margin of 14.28% and a return on equity of 51.54%. The company’s revenue for the quarter was up 29.2% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.23) EPS. As a group, equities analysts anticipate that Royal Caribbean Cruises will post 10.8 EPS for the current year.

Insider Transactions at Royal Caribbean Cruises

In other news, CEO Jason T. Liberty sold 50,000 shares of Royal Caribbean Cruises stock in a transaction on Friday, April 26th. The shares were sold at an average price of $139.63, for a total transaction of $6,981,500.00. Following the completion of the sale, the chief executive officer now directly owns 153,017 shares in the company, valued at $21,365,763.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, CEO Jason T. Liberty sold 50,000 shares of the business’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $139.63, for a total transaction of $6,981,500.00. Following the completion of the transaction, the chief executive officer now directly owns 153,017 shares in the company, valued at $21,365,763.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael W. Bayley sold 11,753 shares of the business’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $116.01, for a total transaction of $1,363,465.53. Following the transaction, the chief executive officer now owns 166,537 shares of the company’s stock, valued at $19,319,957.37. The disclosure for this sale can be found here. Insiders own 8.70% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Pinnacle Associates Ltd. lifted its position in Royal Caribbean Cruises by 0.9% during the first quarter. Pinnacle Associates Ltd. now owns 356,265 shares of the company’s stock valued at $49,524,000 after purchasing an additional 3,090 shares during the period. Highview Capital Management LLC DE acquired a new position in shares of Royal Caribbean Cruises in the first quarter worth about $1,541,000. Renaissance Group LLC acquired a new position in shares of Royal Caribbean Cruises in the first quarter worth about $37,212,000. Latitude Advisors LLC raised its position in shares of Royal Caribbean Cruises by 6.3% in the first quarter. Latitude Advisors LLC now owns 3,177 shares of the company’s stock worth $442,000 after acquiring an additional 188 shares during the period. Finally, Strategy Asset Managers LLC acquired a new position in shares of Royal Caribbean Cruises in the first quarter worth about $624,000. 87.53% 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 21, 2024, it operated 65 ships. Royal Caribbean Cruises Ltd.