JPMorgan Chase & Co. Boosts Royal Caribbean Cruises (NYSE:RCL) Price Target to $213.00

Royal Caribbean Cruises (NYSE:RCL) had its target price lifted by equities researchers at JPMorgan Chase & Co. from $210.00 to $213.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 23.93% from the company’s current price.

Other equities analysts have also recently issued research reports about the stock. Bank of America increased their price objective on shares of Royal Caribbean Cruises from $145.00 to $172.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 23rd. Barclays lifted their price target on shares of Royal Caribbean Cruises from $185.00 to $195.00 and gave the stock an “overweight” rating in a research note on Friday, July 26th. Susquehanna lifted their target price 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. UBS Group upped their price target on Royal Caribbean Cruises from $168.00 to $183.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Finally, StockNews.com raised Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a research report on Friday, September 6th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Royal Caribbean Cruises currently has an average rating of “Moderate Buy” and an average target price of $182.31.

Royal Caribbean Cruises Stock Performance

NYSE:RCL traded up $3.91 during trading hours on Monday, reaching $171.87. The company had a trading volume of 774,338 shares, compared to its average volume of 2,494,816. The firm has a market cap of $44.23 billion, a price-to-earnings ratio of 22.15, a PEG ratio of 0.47 and a beta of 2.61. 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’s 50 day moving average price is $159.74 and its 200-day moving average price is $147.94. Royal Caribbean Cruises has a 52 week low of $78.35 and a 52 week high of $173.40.

Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings data on Thursday, July 25th. The company reported $3.21 EPS for the quarter, topping the consensus estimate 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 company had revenue of $4.10 billion during the quarter, compared to analyst estimates of $4.05 billion. During the same quarter in the previous year, the company posted $1.82 earnings per share. Royal Caribbean Cruises’s revenue was up 16.4% compared to the same quarter last year. On average, analysts forecast that Royal Caribbean Cruises will post 11.65 EPS for the current year.

Insider Activity

In other Royal Caribbean Cruises news, CFO Naftali Holtz bought 5,350 shares of the company’s stock in a transaction on Friday, August 2nd. The shares were bought at an average cost of $140.00 per share, for a total transaction of $749,000.00. Following the acquisition, the chief financial officer now directly owns 48,256 shares in the company, valued at $6,755,840. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Royal Caribbean Cruises news, Director Vagn O. Sorensen sold 5,800 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $158.50, for a total transaction 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Naftali Holtz acquired 5,350 shares of the firm’s stock in a transaction that occurred on Friday, August 2nd. The shares were bought at an average price of $140.00 per share, with a total value of $749,000.00. Following the completion of the purchase, the chief financial officer now directly owns 48,256 shares in the company, valued at $6,755,840. The disclosure for this purchase can be found here. Insiders own 7.95% of the company’s stock.

Institutional Trading of Royal Caribbean Cruises

Several hedge funds have recently modified their holdings of the company. Capital International Investors lifted its position in Royal Caribbean Cruises by 1.0% during the first quarter. Capital International Investors now owns 29,596,455 shares of the company’s stock valued at $4,114,203,000 after acquiring an additional 286,868 shares during the last quarter. Vanguard Group Inc. increased its position in shares of Royal Caribbean Cruises by 0.5% during the first quarter. Vanguard Group Inc. now owns 25,409,272 shares of the company’s stock worth $3,532,143,000 after purchasing an additional 132,079 shares in the last quarter. Norges Bank purchased a new stake in shares of Royal Caribbean Cruises during the 4th quarter valued at $323,251,000. Dimensional Fund Advisors LP boosted its position in shares of Royal Caribbean Cruises by 24.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,048,501 shares of the company’s stock worth $326,616,000 after purchasing an additional 400,565 shares in the last quarter. Finally, D1 Capital Partners L.P. grew its stake in Royal Caribbean Cruises by 105.7% during the 2nd quarter. D1 Capital Partners L.P. now owns 1,512,103 shares of the company’s stock worth $241,075,000 after buying an additional 777,103 shares during the last quarter. 87.53% of the stock is owned by hedge funds and other 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.