UBS Group Reiterates “$311.00” Price Target for Royal Caribbean Cruises (NYSE:RCL)

Royal Caribbean Cruises (NYSE:RCL) has been given a $311.00 target price by analysts at UBS Group in a report released on Tuesday, MarketBeat Ratings reports. The firm presently has a “buy” rating on the stock. UBS Group’s price target points to a potential upside of 30.51% from the stock’s current price.

Several other research analysts also recently commented on RCL. Tigress Financial lifted their price target on Royal Caribbean Cruises from $270.00 to $330.00 and gave the stock a “buy” rating in a research report on Friday, February 7th. Stifel Nicolaus dropped their target price on shares of Royal Caribbean Cruises from $310.00 to $265.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Susquehanna dropped their target price on shares of Royal Caribbean Cruises from $295.00 to $275.00 and set a “positive” rating on the stock in a research report on Wednesday, April 30th. Citigroup boosted their target price on shares of Royal Caribbean Cruises from $283.00 to $304.00 and gave the stock a “buy” rating in a research report on Wednesday, January 29th. Finally, Truist Financial boosted their price objective on shares of Royal Caribbean Cruises from $272.00 to $275.00 and gave the stock a “buy” rating in a report on Monday. Four research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $271.95.

Royal Caribbean Cruises Price Performance

NYSE RCL opened at $238.30 on Tuesday. The stock’s 50-day moving average is $214.68 and its two-hundred day moving average is $230.84. The company has a debt-to-equity ratio of 2.39, a current ratio of 0.17 and a quick ratio of 0.15. Royal Caribbean Cruises has a fifty-two week low of $130.08 and a fifty-two week high of $277.08. The firm has a market cap of $64.71 billion, a P/E ratio of 22.29, a price-to-earnings-growth ratio of 0.90 and a beta of 2.12.

Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $2.71 earnings per share for the quarter, beating analysts’ consensus estimates 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 business had revenue of $4 billion for the quarter, compared to the consensus estimate of $4.02 billion. During the same period last year, the business earned $1.77 EPS. The firm’s revenue was up 7.3% compared to the same quarter last year. On average, analysts anticipate that Royal Caribbean Cruises will post 14.9 earnings per share for the current fiscal year.

Royal Caribbean Cruises announced that its Board of Directors has authorized a share repurchase plan on Wednesday, February 12th that authorizes the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization authorizes the company to repurchase up to 1.5% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling at Royal Caribbean Cruises

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

Institutional Trading of Royal Caribbean Cruises

Large investors have recently added to or reduced their stakes in the company. Venturi Wealth Management LLC grew its position in Royal Caribbean Cruises by 511.0% during the 4th quarter. Venturi Wealth Management LLC now owns 2,157 shares of the company’s stock worth $498,000 after acquiring an additional 1,804 shares during the last quarter. Lorne Steinberg Wealth Management Inc. bought a new stake in Royal Caribbean Cruises during the 4th quarter worth approximately $231,000. Geode Capital Management LLC grew its position in Royal Caribbean Cruises by 6.3% during the 4th quarter. Geode Capital Management LLC now owns 5,969,532 shares of the company’s stock worth $1,373,856,000 after acquiring an additional 353,893 shares during the last quarter. Principal Financial Group Inc. grew its holdings in shares of Royal Caribbean Cruises by 2.7% during the fourth quarter. Principal Financial Group Inc. now owns 291,027 shares of the company’s stock worth $67,137,000 after purchasing an additional 7,740 shares during the last quarter. Finally, Dorsey Wright & Associates bought a new stake in shares of Royal Caribbean Cruises during the fourth quarter worth $4,221,000. 87.53% of the stock is owned by 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.