Royal Caribbean Cruises (NYSE:RCL) Price Target Raised to $243.00

Royal Caribbean Cruises (NYSE:RCL) had its price target raised by JPMorgan Chase & Co. from $213.00 to $243.00 in a report released on Tuesday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Several other equities analysts also recently commented on the company. Truist Financial raised their target price on Royal Caribbean Cruises from $175.00 to $204.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Tigress Financial raised their target price on Royal Caribbean Cruises from $155.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Macquarie raised their target price on Royal Caribbean Cruises from $165.00 to $189.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 30th. Citigroup raised their target price on Royal Caribbean Cruises from $204.00 to $253.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, Susquehanna lifted their price objective on Royal Caribbean Cruises from $160.00 to $180.00 and gave the company a “positive” rating in a research report on Tuesday, July 30th. One research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $214.00.

Royal Caribbean Cruises Price Performance

Shares of NYSE:RCL opened at $206.35 on Tuesday. Royal Caribbean Cruises has a 1-year low of $83.25 and a 1-year high of $214.12. The firm has a market capitalization of $55.48 billion, a PE ratio of 21.21, a PEG ratio of 0.61 and a beta of 2.61. The business’s 50 day moving average is $180.26 and its 200-day moving average is $161.00. The company has a current ratio of 0.19, a quick ratio of 0.17 and a debt-to-equity ratio of 2.63.

Royal Caribbean Cruises (NYSE:RCL) last posted its earnings results on Tuesday, October 29th. The company reported $5.20 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 return on equity of 52.92% and a net margin of 16.21%. Royal Caribbean Cruises’s revenue was up 17.5% on a year-over-year basis. During the same quarter last year, the company earned $3.85 EPS. Sell-side analysts predict that Royal Caribbean Cruises will post 11.6 earnings per share for the current year.

Insider Transactions at Royal Caribbean Cruises

In other news, insider Laura H. Bethge sold 3,073 shares of the business’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $168.71, for a total transaction of $518,445.83. Following the completion of the sale, the insider now owns 27,388 shares in the company, valued at $4,620,629.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Laura H. Bethge sold 3,073 shares of the business’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $168.71, for a total transaction of $518,445.83. Following the completion of the sale, the insider now owns 27,388 shares in the company, valued at $4,620,629.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Vagn O. Sorensen sold 5,800 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $158.50, for a total value of $919,300.00. Following the sale, the director now owns 25,837 shares of the company’s stock, valued at approximately $4,095,164.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 7.95% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Royal Caribbean Cruises

A number of institutional investors have recently made changes to their positions in RCL. Unique Wealth Strategies LLC acquired a new position in Royal Caribbean Cruises in the second quarter valued at about $27,000. Versant Capital Management Inc grew its stake in Royal Caribbean Cruises by 905.3% in the second quarter. Versant Capital Management Inc now owns 191 shares of the company’s stock valued at $30,000 after acquiring an additional 172 shares during the period. DiNuzzo Private Wealth Inc. grew its stake in 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 acquiring an additional 121 shares during the period. AlphaMark Advisors LLC grew its stake in Royal Caribbean Cruises by 233.3% in the second quarter. AlphaMark Advisors LLC now owns 200 shares of the company’s stock valued at $32,000 after acquiring an additional 140 shares during the period. Finally, Meeder Asset Management Inc. grew its stake in Royal Caribbean Cruises by 50.3% in the second quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock valued at $37,000 after acquiring an additional 78 shares during the period. 87.53% of the stock is 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.