Royal Caribbean Cruises (NYSE:RCL) Price Target Raised to $70.00 at Stifel Nicolaus

Royal Caribbean Cruises (NYSE:RCLGet Rating) had its target price upped by Stifel Nicolaus from $60.00 to $70.00 in a report published on Monday morning, The Fly reports. They currently have a buy rating on the stock.

RCL has been the subject of several other research reports. Deutsche Bank Aktiengesellschaft cut their price target on Royal Caribbean Cruises from $50.00 to $48.00 in a report on Friday, July 29th. StockNews.com raised Royal Caribbean Cruises to a sell rating in a report on Saturday, August 6th. Wells Fargo & Company cut their price target on Royal Caribbean Cruises from $81.00 to $58.00 in a report on Friday, July 29th. Susquehanna Bancshares cut their price target on Royal Caribbean Cruises from $70.00 to $50.00 in a report on Friday, July 29th. Finally, Susquehanna cut their price target on Royal Caribbean Cruises from $70.00 to $50.00 in a report on Friday, July 29th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Hold and an average target price of $62.00.

Royal Caribbean Cruises Stock Up 0.5 %

RCL stock opened at $47.00 on Monday. Royal Caribbean Cruises has a 1-year low of $31.09 and a 1-year high of $98.27. The business has a fifty day moving average price of $41.31 and a 200-day moving average price of $54.58. The company has a debt-to-equity ratio of 5.22, a current ratio of 0.30 and a quick ratio of 0.28. The stock has a market capitalization of $11.99 billion, a P/E ratio of -2.68 and a beta of 2.41.

Royal Caribbean Cruises (NYSE:RCLGet Rating) last posted its quarterly earnings data on Thursday, July 28th. The company reported ($2.08) EPS for the quarter, beating analysts’ consensus estimates of ($2.23) by $0.15. The company had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.10 billion. Royal Caribbean Cruises had a negative return on equity of 87.89% and a negative net margin of 95.46%. Royal Caribbean Cruises’s revenue for the quarter was up 4190.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($5.06) earnings per share. Equities analysts forecast that Royal Caribbean Cruises will post -7.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Royal Caribbean Cruises

A number of hedge funds have recently made changes to their positions in the company. Capital World Investors raised its position in Royal Caribbean Cruises by 1,314.9% during the first quarter. Capital World Investors now owns 2,759,035 shares of the company’s stock valued at $231,152,000 after purchasing an additional 2,564,035 shares during the period. Capital International Investors raised its position in Royal Caribbean Cruises by 5.6% during the first quarter. Capital International Investors now owns 28,886,916 shares of the company’s stock valued at $2,419,663,000 after purchasing an additional 1,524,412 shares during the period. Neuberger Berman Group LLC raised its position in Royal Caribbean Cruises by 31.8% during the first quarter. Neuberger Berman Group LLC now owns 3,232,746 shares of the company’s stock valued at $270,748,000 after purchasing an additional 779,704 shares during the period. APG Asset Management N.V. raised its position in Royal Caribbean Cruises by 118.4% during the first quarter. APG Asset Management N.V. now owns 1,255,289 shares of the company’s stock valued at $94,520,000 after purchasing an additional 680,624 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. purchased a new stake in Royal Caribbean Cruises during the first quarter valued at approximately $51,548,000. 67.41% of the stock is currently owned by hedge funds and other institutional investors.

Royal Caribbean Cruises Company Profile

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Royal Caribbean Cruises Ltd. operates as a cruise company worldwide. The company operates cruises under the Royal Caribbean International, Celebrity Cruises, Azamara, and Silversea Cruises brands, which comprise a range of itineraries that call on approximately 1,000 destinations. As of February 25, 2022, it operated 61 ships.

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