Royal Caribbean Cruises (NYSE:RCL) PT Raised to $189.00 at Macquarie

Royal Caribbean Cruises (NYSE:RCL) had its target price increased by research analysts at Macquarie from $165.00 to $189.00 in a report issued on Tuesday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Macquarie’s price objective indicates a potential upside of 21.04% from the company’s current price.

RCL has been the subject of a number of other reports. Mizuho raised their price target on shares of Royal Caribbean Cruises from $168.00 to $195.00 and gave the stock an “outperform” rating in a research report on Friday. JPMorgan Chase & Co. upped their price target on Royal Caribbean Cruises from $175.00 to $210.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. The Goldman Sachs Group lifted their price objective on Royal Caribbean Cruises from $170.00 to $195.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Truist Financial upped their target price on Royal Caribbean Cruises from $151.00 to $175.00 and gave the company a “buy” rating in a research note on Wednesday, May 29th. Finally, Susquehanna lifted their price target on shares of Royal Caribbean Cruises from $160.00 to $180.00 and gave the stock a “positive” rating in a research note on Tuesday. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Royal Caribbean Cruises has a consensus rating of “Moderate Buy” and a consensus target price of $175.31.

Royal Caribbean Cruises Stock Performance

Shares of NYSE:RCL traded up $1.01 during midday trading on Tuesday, hitting $156.15. The company’s stock had a trading volume of 169,788 shares, compared to its average volume of 2,509,435. The company has a debt-to-equity ratio of 3.20, a quick ratio of 0.17 and a current ratio of 0.19. The stock’s 50 day simple moving average is $156.48 and its 200 day simple moving average is $139.28. The stock has a market capitalization of $40.19 billion, a price-to-earnings ratio of 20.12, a PEG ratio of 0.44 and a beta of 2.62. Royal Caribbean Cruises has a fifty-two week low of $78.35 and a fifty-two week high of $173.37.

Royal Caribbean Cruises (NYSE:RCL) last released its earnings results on Thursday, July 25th. The company reported $3.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.76 by $0.45. Royal Caribbean Cruises had a return on equity of 52.49% and a net margin of 16.32%. The firm had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.05 billion. During the same quarter last year, the firm posted $1.82 EPS. The company’s revenue was up 16.4% on a year-over-year basis. As a group, research analysts anticipate that Royal Caribbean Cruises will post 11.63 earnings per share for the current year.

Insider Activity at Royal Caribbean Cruises

In other news, Director Richard D. Fain sold 19,584 shares of the stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $153.96, for a total transaction of $3,015,152.64. Following the sale, the director now owns 179,117 shares in the company, valued at $27,576,853.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Michael W. Bayley sold 49,155 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $147.67, for a total value of $7,258,718.85. Following the completion of the sale, the chief executive officer now owns 49,695 shares of the company’s stock, valued at $7,338,460.65. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Richard D. Fain sold 19,584 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $153.96, for a total transaction of $3,015,152.64. Following the completion of the transaction, the director now owns 179,117 shares of the company’s stock, valued at approximately $27,576,853.32. The disclosure for this sale can be found here. Insiders sold 92,940 shares of company stock valued at $13,667,094 in the last three months. Corporate insiders own 7.95% of the company’s stock.

Institutional Investors Weigh In On Royal Caribbean Cruises

Institutional investors and hedge funds have recently made changes to their positions in the company. Norges Bank acquired a new stake in Royal Caribbean Cruises in the fourth quarter worth about $323,251,000. Eagle Asset Management Inc. acquired a new position in Royal Caribbean Cruises in the fourth quarter valued at approximately $79,392,000. Vaughan Nelson Investment Management L.P. acquired a new stake in Royal Caribbean Cruises during the 1st quarter worth $66,279,000. Junto Capital Management LP bought a new stake in shares of Royal Caribbean Cruises during the 4th quarter valued at $47,950,000. Finally, Vanguard Group Inc. raised its position in shares of Royal Caribbean Cruises by 1.4% during the 4th quarter. Vanguard Group Inc. now owns 25,277,193 shares of the company’s stock valued at $3,273,144,000 after acquiring an additional 359,770 shares during the last quarter. Institutional investors own 87.53% of the company’s stock.

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.