Morgan Stanley Increases Royal Caribbean Cruises (NYSE:RCL) Price Target to $154.00

Royal Caribbean Cruises (NYSE:RCL) had its target price hoisted by research analysts at Morgan Stanley from $140.00 to $154.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective suggests a potential upside of 2.02% from the stock’s previous close.

A number of other equities research analysts also recently issued reports on RCL. The Goldman Sachs Group lifted their price target on shares of Royal Caribbean Cruises from $170.00 to $195.00 and gave the company a “buy” rating in a research report on Wednesday, July 17th. Stifel Nicolaus lifted their target price on shares of Royal Caribbean Cruises from $180.00 to $200.00 and gave the stock a “buy” rating in a research note on Friday, July 19th. Citigroup lifted their target price on shares of Royal Caribbean Cruises from $165.00 to $204.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Truist Financial lifted their target price on shares of Royal Caribbean Cruises from $151.00 to $175.00 and gave the stock a “buy” rating in a research note on Wednesday, May 29th. Finally, UBS Group lifted their target price on shares of Royal Caribbean Cruises from $168.00 to $183.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $182.13.

Royal Caribbean Cruises Stock Performance

Shares of RCL traded up $0.69 during mid-day trading on Wednesday, hitting $150.95. 1,758,118 shares of the company’s stock were exchanged, compared to its average volume of 2,588,592. The company has a current ratio of 0.19, a quick ratio of 0.17 and a debt-to-equity ratio of 3.20. The firm has a market capitalization of $38.85 billion, a P/E ratio of 19.66, a P/E/G ratio of 0.39 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. The business’s 50 day moving average is $156.46 and its two-hundred day moving average is $140.34.

Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings data on Thursday, July 25th. The company reported $3.21 EPS for the quarter, beating analysts’ consensus estimates of $2.76 by $0.45. The firm had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.05 billion. Royal Caribbean Cruises had a net margin of 16.32% and a return on equity of 52.49%. The firm’s revenue was up 16.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.82 earnings per share. On average, equities analysts expect that Royal Caribbean Cruises will post 11.6 earnings per share for the current year.

Insider Activity at Royal Caribbean Cruises

In other news, CFO Naftali Holtz purchased 5,350 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were acquired at an average price of $140.00 per share, for a total transaction of $749,000.00. Following the completion of the acquisition, the chief financial officer now directly owns 48,256 shares of the company’s stock, valued at $6,755,840. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Royal Caribbean Cruises news, CEO Michael W. Bayley sold 24,201 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $140.21, for a total value of $3,393,222.21. Following the transaction, the chief executive officer now owns 98,850 shares in the company, valued at approximately $13,859,758.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Naftali Holtz acquired 5,350 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was bought at an average price of $140.00 per share, for a total transaction of $749,000.00. Following the purchase, the chief financial officer now owns 48,256 shares in the company, valued at approximately $6,755,840. The disclosure for this purchase can be found here. Insiders sold a total of 92,940 shares of company stock valued at $13,667,094 over the last ninety days. Insiders own 7.95% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Andra AP fonden acquired a new position in Royal Caribbean Cruises in the 2nd quarter valued at approximately $14,189,000. Royal London Asset Management Ltd. increased its stake in shares of Royal Caribbean Cruises by 10.1% during the 2nd quarter. Royal London Asset Management Ltd. now owns 87,741 shares of the company’s stock worth $13,989,000 after purchasing an additional 8,050 shares during the last quarter. Choreo LLC acquired a new position in shares of Royal Caribbean Cruises during the 2nd quarter worth $1,234,000. Wedbush Securities Inc. increased its stake in shares of Royal Caribbean Cruises by 6.6% during the 2nd quarter. Wedbush Securities Inc. now owns 6,402 shares of the company’s stock worth $1,021,000 after purchasing an additional 396 shares during the last quarter. Finally, Ashton Thomas Private Wealth LLC acquired a new position in shares of Royal Caribbean Cruises during the 2nd quarter worth $58,000. Institutional investors and hedge funds 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.