Royal Caribbean Cruises (NYSE:RCL) Coverage Initiated by Analysts at BNP Paribas

Analysts at BNP Paribas began coverage on shares of Royal Caribbean Cruises (NYSE:RCL) in a report released on Thursday,Briefing.com Automated Import reports. The firm set an “outperform” rating and a $262.00 price target on the stock. BNP Paribas’ target price indicates a potential upside of 19.22% from the company’s current price.

Several other research firms have also recently issued reports on RCL. Macquarie upped their price target on Royal Caribbean Cruises from $250.00 to $300.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Wells Fargo & Company upped their target price on Royal Caribbean Cruises from $232.00 to $272.00 and gave the company an “overweight” rating in a report on Monday, January 27th. UBS Group lifted their price target on Royal Caribbean Cruises from $271.00 to $301.00 and gave the stock a “buy” rating in a research note on Tuesday, February 4th. Morgan Stanley upped their price objective on shares of Royal Caribbean Cruises from $210.00 to $225.00 and gave the company an “equal weight” rating in a research note on Monday, February 3rd. Finally, Mizuho reiterated an “outperform” rating and issued a $253.00 target price (down from $255.00) on shares of Royal Caribbean Cruises in a report on Thursday, January 23rd. Three analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, Royal Caribbean Cruises currently has a consensus rating of “Moderate Buy” and a consensus price target of $282.33.

Royal Caribbean Cruises Stock Down 2.3 %

RCL opened at $219.76 on Thursday. The stock’s fifty day moving average is $239.63 and its 200-day moving average is $222.98. Royal Caribbean Cruises has a one year low of $125.06 and a one year high of $277.08. The company has a market capitalization of $59.14 billion, a PE ratio of 20.56, a P/E/G ratio of 0.90 and a beta of 2.53. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.15 and a current ratio of 0.17.

Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings results on Tuesday, January 28th. The company reported $1.63 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.13. Royal Caribbean Cruises had a net margin of 17.46% and a return on equity of 48.97%. During the same period in the prior year, the business posted $1.25 earnings per share. On average, equities analysts predict that Royal Caribbean Cruises will post 14.9 EPS for the current fiscal year.

Royal Caribbean Cruises announced that its Board of Directors has initiated a stock buyback program on Wednesday, February 12th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to purchase up to 1.5% of its stock through open market purchases. Stock buyback programs are usually an indication that the company’s management believes its shares are undervalued.

Insider Activity at Royal Caribbean Cruises

In related news, CFO Naftali Holtz sold 17,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $261.62, for a total transaction of $4,447,540.00. Following the transaction, the chief financial officer now owns 42,127 shares of the company’s stock, valued at approximately $11,021,265.74. This trade represents a 28.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jason T. Liberty sold 58,000 shares of Royal Caribbean Cruises stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $261.95, for a total transaction of $15,193,100.00. Following the completion of the sale, the chief executive officer now owns 143,214 shares of the company’s stock, valued at $37,514,907.30. This trade represents a 28.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 109,492 shares of company stock valued at $28,571,705. Insiders own 7.95% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Brown Brothers Harriman & Co. boosted its holdings in Royal Caribbean Cruises by 618.8% in the fourth quarter. Brown Brothers Harriman & Co. now owns 115 shares of the company’s stock worth $27,000 after purchasing an additional 99 shares in the last quarter. Safe Harbor Fiduciary LLC bought a new stake in shares of Royal Caribbean Cruises during the 3rd quarter worth about $27,000. Fourth Dimension Wealth LLC acquired a new position in shares of Royal Caribbean Cruises during the 4th quarter valued at about $35,000. Bay Harbor Wealth Management LLC acquired a new position in shares of Royal Caribbean Cruises during the 4th quarter valued at about $36,000. Finally, Truvestments Capital LLC bought a new stake in shares of Royal Caribbean Cruises during the 4th quarter worth $36,000. Institutional investors and hedge funds own 87.53% of the company’s stock.

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.