Royal Caribbean Cruises (NYSE:RCL) Reaches New 52-Week High – Here’s What Happened

Royal Caribbean Cruises Ltd. (NYSE:RCL) reached a new 52-week high during trading on Tuesday . The stock traded as high as $244.57 and last traded at $243.15, with a volume of 327534 shares changing hands. The stock had previously closed at $240.39.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Susquehanna upped their price objective on shares of Royal Caribbean Cruises from $160.00 to $180.00 and gave the stock a “positive” rating in a report on Tuesday, July 30th. UBS Group upped their target price on shares of Royal Caribbean Cruises from $168.00 to $183.00 and gave the stock a “buy” rating in a report on Wednesday, July 31st. Sanford C. Bernstein began coverage on Royal Caribbean Cruises in a report on Tuesday. They set an “outperform” rating and a $290.00 price objective for the company. Truist Financial lifted their target price on Royal Caribbean Cruises from $175.00 to $204.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Finally, Barclays increased their price target on Royal Caribbean Cruises from $244.00 to $245.00 and gave the company an “overweight” rating in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $224.38.

Royal Caribbean Cruises Price Performance

The firm has a market cap of $65.79 billion, a PE ratio of 24.71, a P/E/G ratio of 0.64 and a beta of 2.59. The company has a debt-to-equity ratio of 2.63, a current ratio of 0.19 and a quick ratio of 0.16. The business’s fifty day moving average is $202.43 and its 200-day moving average is $172.40.

Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $5.20 EPS for the quarter, topping analysts’ consensus estimates of $5.05 by $0.15. Royal Caribbean Cruises had a net margin of 16.21% and a return on equity of 52.92%. The company had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $4.89 billion. During the same quarter in the previous year, the firm posted $3.85 EPS. Royal Caribbean Cruises’s revenue was up 17.5% on a year-over-year basis. On average, research analysts predict that Royal Caribbean Cruises Ltd. will post 11.64 earnings per share for the current fiscal year.

Insider Activity

In related news, Director Arne Alexander Wilhelmsen sold 139,353 shares of the business’s stock in a transaction on Thursday, November 21st. The stock was sold at an average price of $237.89, for a total transaction of $33,150,685.17. Following the sale, the director now directly owns 18,167,507 shares in the company, valued at approximately $4,321,868,240.23. The trade was a 0.76 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Laura H. Bethge sold 3,073 shares of the firm’s stock in a transaction dated 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 owns 27,388 shares of the company’s stock, valued at approximately $4,620,629.48. This represents a 10.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 407,405 shares of company stock valued at $94,817,966 in the last 90 days. Insiders own 7.95% of the company’s stock.

Institutional Investors Weigh In On Royal Caribbean Cruises

Hedge funds and other institutional investors have recently modified their holdings of the stock. Plato Investment Management Ltd purchased a new position in Royal Caribbean Cruises during the third quarter valued at approximately $26,000. Unique Wealth Strategies LLC purchased a new position in shares of Royal Caribbean Cruises during the 2nd quarter valued at $27,000. Safe Harbor Fiduciary LLC bought a new position in shares of Royal Caribbean Cruises in the third quarter worth $27,000. Versant Capital Management Inc increased its holdings in shares of Royal Caribbean Cruises by 905.3% in the second quarter. Versant Capital Management Inc now owns 191 shares of the company’s stock worth $30,000 after purchasing an additional 172 shares during the period. Finally, DiNuzzo Private Wealth Inc. raised its position 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 worth $30,000 after buying an additional 121 shares in the last quarter. 87.53% of the stock is currently owned by institutional investors.

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.