UBS Group Boosts Royal Caribbean Cruises (NYSE:RCL) Price Target to $311.00

Royal Caribbean Cruises (NYSE:RCL) had its price target lifted by equities researchers at UBS Group from $301.00 to $311.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has a “buy” rating on the stock. UBS Group’s price target would indicate a potential upside of 30.80% from the company’s current price.

Other research analysts have also issued reports about the stock. Jefferies Financial Group began coverage on shares of Royal Caribbean Cruises in a research report on Monday, March 31st. They issued a “hold” rating and a $230.00 target price for the company. Truist Financial boosted their target price on Royal Caribbean Cruises from $272.00 to $275.00 and gave the stock a “buy” rating in a research report on Monday. The Goldman Sachs Group reduced their price target on shares of Royal Caribbean Cruises from $305.00 to $245.00 and set a “buy” rating on the stock in a research report on Wednesday, April 23rd. Wells Fargo & Company lifted their price target on shares of Royal Caribbean Cruises from $232.00 to $272.00 and gave the stock an “overweight” rating in a research note on Monday, January 27th. Finally, Mizuho restated an “outperform” rating and issued a $253.00 price objective (down from $255.00) on shares of Royal Caribbean Cruises in a report on Thursday, January 23rd. Four investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $271.95.

Royal Caribbean Cruises Trading Down 4.6%

Shares of RCL stock opened at $237.77 on Tuesday. The company has a market capitalization of $64.57 billion, a PE ratio of 22.24, a price-to-earnings-growth ratio of 0.90 and a beta of 2.12. Royal Caribbean Cruises has a 52-week low of $130.08 and a 52-week high of $277.08. The business’s fifty day moving average is $214.31 and its 200 day moving average is $230.60. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.15 and a current ratio of 0.17.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings results on Tuesday, April 29th. The company reported $2.71 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.18. Royal Caribbean Cruises had a return on equity of 48.97% and a net margin of 17.46%. The firm had revenue of $4 billion for the quarter, compared to analysts’ expectations of $4.02 billion. During the same quarter last year, the firm posted $1.77 EPS. The company’s revenue was up 7.3% compared to the same quarter last year. On average, equities research analysts anticipate that Royal Caribbean Cruises will post 14.9 EPS for the current fiscal year.

Royal Caribbean Cruises declared that its Board of Directors has initiated a share buyback plan on Wednesday, February 12th that authorizes the company to buyback $1.00 billion in outstanding shares. This buyback authorization authorizes the company to purchase up to 1.5% of its shares through open market purchases. Shares buyback plans are generally an indication that the company’s management believes its shares are undervalued.

Insider Transactions at Royal Caribbean Cruises

In related news, Director Richard D. Fain sold 19,600 shares of the company’s stock in a transaction on Monday, May 19th. The stock was sold at an average price of $253.10, for a total value of $4,960,760.00. Following the sale, the director now directly owns 165,421 shares of the company’s stock, valued at $41,868,055.10. This represents a 10.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 7.95% of the company’s stock.

Institutional Trading of Royal Caribbean Cruises

A number of hedge funds have recently modified their holdings of RCL. Capital International Investors lifted its position in Royal Caribbean Cruises by 0.9% during the 4th quarter. Capital International Investors now owns 29,712,610 shares of the company’s stock valued at $6,854,905,000 after acquiring an additional 278,860 shares during the period. Vanguard Group Inc. increased its stake in shares of Royal Caribbean Cruises by 2.1% during the first quarter. Vanguard Group Inc. now owns 28,674,763 shares of the company’s stock valued at $5,890,943,000 after purchasing an additional 602,447 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Royal Caribbean Cruises by 6.3% during the fourth quarter. Geode Capital Management LLC now owns 5,969,532 shares of the company’s stock valued at $1,373,856,000 after purchasing an additional 353,893 shares during the last quarter. Norges Bank purchased a new position in shares of Royal Caribbean Cruises during the fourth quarter valued at approximately $707,833,000. Finally, Bank of New York Mellon Corp boosted its position in shares of Royal Caribbean Cruises by 21.8% in the 1st quarter. Bank of New York Mellon Corp now owns 2,991,079 shares of the company’s stock worth $614,487,000 after purchasing an additional 535,043 shares in the last quarter. Institutional investors own 87.53% of the company’s stock.

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.