Royal Caribbean Cruises (NYSE:RCL) Receives New Coverage from Analysts at Mizuho

Mizuho began coverage on shares of Royal Caribbean Cruises (NYSE:RCL) in a research report released on Wednesday morning, MarketBeat Ratings reports. The firm issued a buy rating and a $164.00 target price on the stock.

Other research analysts also recently issued reports about the company. Morgan Stanley boosted their price target on Royal Caribbean Cruises from $100.00 to $115.00 and gave the company an equal weight rating in a report on Wednesday, February 7th. The Goldman Sachs Group reissued a buy rating on shares of Royal Caribbean Cruises in a research note on Monday, April 1st. Susquehanna upped their price target on shares of Royal Caribbean Cruises from $120.00 to $150.00 and gave the stock a positive rating in a research report on Wednesday, January 31st. Stifel Nicolaus boosted their price objective on shares of Royal Caribbean Cruises from $170.00 to $174.00 and gave the stock a buy rating in a research note on Thursday, February 22nd. Finally, Wells Fargo & Company raised their target price 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. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Moderate Buy and a consensus target price of $136.94.

Royal Caribbean Cruises Price Performance

Shares of NYSE:RCL opened at $127.97 on Wednesday. Royal Caribbean Cruises has a one year low of $59.37 and a one year high of $141.70. The stock has a market cap of $32.85 billion, a PE ratio of 20.57, a price-to-earnings-growth ratio of 0.46 and a beta of 2.52. The business’s fifty day moving average price is $127.83 and its two-hundred day moving average price is $115.46. The company has a debt-to-equity ratio of 4.03, a quick ratio of 0.16 and a current ratio of 0.19.

Royal Caribbean Cruises (NYSE:RCL) last announced its earnings results on Thursday, February 1st. The company reported $1.25 earnings per share for the quarter, beating the consensus estimate of $1.13 by $0.12. The firm had revenue of $3.33 billion during the quarter, compared to the consensus estimate of $3.36 billion. Royal Caribbean Cruises had a net margin of 12.22% and a return on equity of 45.55%. The firm’s revenue for the quarter was up 28.0% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.12) EPS. On average, analysts forecast that Royal Caribbean Cruises will post 10.01 EPS for the current fiscal year.

Insider Activity

In related news, CEO Michael W. Bayley sold 11,753 shares of Royal Caribbean Cruises stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $116.01, for a total value of $1,363,465.53. Following the completion of the sale, the chief executive officer now owns 166,537 shares in the company, valued at $19,319,957.37. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 8.70% of the company’s stock.

Hedge Funds Weigh In On Royal Caribbean Cruises

A number of hedge funds have recently bought and sold shares of the company. Richardson Capital Management LLC bought a new position in Royal Caribbean Cruises during the 1st quarter worth approximately $42,000. Wealthcare Advisory Partners LLC lifted its stake in Royal Caribbean Cruises by 12.8% during the first quarter. Wealthcare Advisory Partners LLC now owns 6,666 shares of the company’s stock worth $927,000 after purchasing an additional 759 shares during the last quarter. Riverview Trust Co bought a new position in Royal Caribbean Cruises during the first quarter worth $124,000. Harbor Investment Advisory LLC boosted its holdings in Royal Caribbean Cruises by 1,756.7% in the first quarter. Harbor Investment Advisory LLC now owns 2,785 shares of the company’s stock worth $387,000 after purchasing an additional 2,635 shares during the period. Finally, Range Financial Group LLC raised its holdings in shares of Royal Caribbean Cruises by 2.1% during the first quarter. Range Financial Group LLC now owns 16,221 shares of the company’s stock worth $2,255,000 after purchasing an additional 339 shares during the period. 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.