Barclays Boosts Royal Caribbean Cruises (NYSE:RCL) Price Target to $165.00

Royal Caribbean Cruises (NYSE:RCL) had its price target increased by Barclays from $154.00 to $165.00 in a research report released on Friday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Several other research firms have also recently weighed in on RCL. Wells Fargo & Company increased their price target on shares of Royal Caribbean Cruises from $151.00 to $153.00 and gave the company an overweight rating in a research note on Monday, February 26th. Morgan Stanley upped their price objective on shares of Royal Caribbean Cruises from $100.00 to $115.00 and gave the stock an equal weight rating in a report on Wednesday, February 7th. The Goldman Sachs Group restated a buy rating on shares of Royal Caribbean Cruises in a report on Monday, April 1st. UBS Group upped their price objective on shares of Royal Caribbean Cruises from $148.00 to $154.00 and gave the stock a buy rating in a report on Friday, February 16th. Finally, Macquarie upped their price objective on shares of Royal Caribbean Cruises from $145.00 to $160.00 and gave the stock an outperform rating in a report on Friday, March 15th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $138.76.

Royal Caribbean Cruises Stock Up 2.3 %

Shares of NYSE RCL opened at $140.59 on Friday. Royal Caribbean Cruises has a 12-month low of $59.38 and a 12-month high of $141.70. The stock has a market cap of $36.09 billion, a PE ratio of 18.12, a P/E/G ratio of 0.47 and a beta of 2.52. The company has a current ratio of 0.19, a quick ratio of 0.16 and a debt-to-equity ratio of 3.54. The company has a 50-day moving average of $130.20 and a 200 day moving average of $117.87.

Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings results on Thursday, April 25th. The company reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.44. Royal Caribbean Cruises had a net margin of 14.28% and a return on equity of 51.54%. The business had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.69 billion. During the same quarter in the prior year, the company posted ($0.23) EPS. The business’s revenue for the quarter was up 29.2% on a year-over-year basis. As a group, sell-side analysts predict that Royal Caribbean Cruises will post 10.8 EPS for the current fiscal year.

Insiders Place Their Bets

In other Royal Caribbean Cruises news, CEO Jason T. Liberty sold 50,000 shares of the stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $139.63, for a total value of $6,981,500.00. Following the sale, the chief executive officer now directly owns 153,017 shares of the company’s stock, valued at approximately $21,365,763.71. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Royal Caribbean Cruises news, CEO Jason T. Liberty sold 50,000 shares of the stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $139.63, for a total value of $6,981,500.00. Following the sale, the chief executive officer now directly owns 153,017 shares of the company’s stock, valued at approximately $21,365,763.71. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Michael W. Bayley sold 11,753 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 166,537 shares in the company, valued at $19,319,957.37. The disclosure for this sale can be found here. 8.70% of the stock is owned by company insiders.

Institutional Investors Weigh In On Royal Caribbean Cruises

A number of large investors have recently modified their holdings of the company. Norges Bank purchased a new position in shares of Royal Caribbean Cruises in the 4th quarter valued at $323,251,000. Eagle Asset Management Inc. purchased a new position in shares of Royal Caribbean Cruises in the 4th quarter valued at $79,392,000. Vanguard Group Inc. grew its position in shares of Royal Caribbean Cruises by 2.0% in the 3rd quarter. Vanguard Group Inc. now owns 24,917,423 shares of the company’s stock valued at $2,295,891,000 after buying an additional 487,327 shares during the last quarter. Vaughan Nelson Investment Management L.P. purchased a new position in shares of Royal Caribbean Cruises in the 1st quarter valued at $66,279,000. Finally, Jupiter Asset Management Ltd. grew its position in shares of Royal Caribbean Cruises by 476.1% in the 3rd quarter. Jupiter Asset Management Ltd. now owns 470,816 shares of the company’s stock valued at $43,381,000 after buying an additional 389,095 shares during the last quarter. 87.53% of the stock is owned by hedge funds and other institutional investors.

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.