Bank of America Forecasts Strong Price Appreciation for Royal Caribbean Cruises (NYSE:RCL) Stock

Royal Caribbean Cruises (NYSE:RCL) had its price objective increased by Bank of America from $210.00 to $240.00 in a report released on Wednesday,Benzinga reports. Bank of America currently has a neutral rating on the stock.

Several other equities analysts have also recently weighed in on the company. Tigress Financial boosted their price objective on Royal Caribbean Cruises from $210.00 to $270.00 and gave the stock a “buy” rating in a research report on Thursday, November 7th. JPMorgan Chase & Co. upped their price target on Royal Caribbean Cruises from $213.00 to $243.00 and gave the stock an “overweight” rating in a report on Tuesday, October 29th. Wells Fargo & Company raised their price objective on shares of Royal Caribbean Cruises from $180.00 to $232.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Morgan Stanley upped their target price on shares of Royal Caribbean Cruises from $140.00 to $154.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 7th. Finally, StockNews.com upgraded shares of Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a research report on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, Royal Caribbean Cruises has an average rating of “Moderate Buy” and a consensus price target of $220.00.

Royal Caribbean Cruises Stock Down 0.7 %

Shares of Royal Caribbean Cruises stock opened at $231.49 on Wednesday. Royal Caribbean Cruises has a 12-month low of $101.04 and a 12-month high of $238.10. The stock has a market capitalization of $62.24 billion, a P/E ratio of 23.79, a PEG ratio of 0.62 and a beta of 2.59. The company has a quick ratio of 0.16, a current ratio of 0.19 and a debt-to-equity ratio of 2.63. The stock has a 50 day moving average price of $193.66 and a two-hundred day moving average price of $167.91.

Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $5.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.05 by $0.15. The business had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $4.89 billion. Royal Caribbean Cruises had a net margin of 16.21% and a return on equity of 52.92%. Royal Caribbean Cruises’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.85 EPS. Equities analysts expect that Royal Caribbean Cruises will post 11.64 earnings per share for the current year.

Insider Transactions at Royal Caribbean Cruises

In other news, Director Richard D. Fain sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $210.02, for a total transaction of $5,250,500.00. Following the completion of the sale, the director now owns 204,521 shares of the company’s stock, valued at approximately $42,953,500.42. This trade represents a 10.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Laura H. Bethge sold 3,073 shares of the business’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $168.71, for a total value of $518,445.83. Following the completion of the transaction, the insider now directly owns 27,388 shares in the company, valued at $4,620,629.48. The trade was a 10.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 34,796 shares of company stock valued at $7,170,759. Corporate insiders own 7.95% of the company’s stock.

Institutional Investors Weigh In On Royal Caribbean Cruises

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Plato Investment Management Ltd acquired a new stake in Royal Caribbean Cruises in the 3rd quarter valued at about $26,000. Safe Harbor Fiduciary LLC acquired a new stake in shares of Royal Caribbean Cruises in the third quarter valued at approximately $27,000. DiNuzzo Private Wealth Inc. increased its holdings in shares of Royal Caribbean Cruises by 257.4% in the third quarter. DiNuzzo Private Wealth Inc. now owns 168 shares of the company’s stock valued at $30,000 after purchasing an additional 121 shares in the last quarter. Unique Wealth Strategies LLC bought a new position in Royal Caribbean Cruises in the 2nd quarter worth approximately $27,000. Finally, LRI Investments LLC acquired a new position in Royal Caribbean Cruises during the 3rd quarter worth $31,000. 87.53% of the stock is owned by institutional investors and hedge funds.

Royal Caribbean Cruises Company Profile

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.