Royal Caribbean Cruises (NYSE:RCL) Price Target Raised to $272.00 at Wells Fargo & Company

Royal Caribbean Cruises (NYSE:RCL) had its price objective hoisted by analysts at Wells Fargo & Company from $232.00 to $272.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 16.95% from the company’s current price.

Several other research firms also recently commented on RCL. JPMorgan Chase & Co. boosted their target price on shares of Royal Caribbean Cruises from $253.00 to $295.00 and gave the stock an “overweight” rating in a research report on Friday, January 17th. Macquarie upped their price objective on shares of Royal Caribbean Cruises from $189.00 to $250.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Sanford C. Bernstein began coverage on Royal Caribbean Cruises in a report on Tuesday, November 26th. They set an “outperform” rating and a $290.00 target price on the stock. Tigress Financial increased their price objective on Royal Caribbean Cruises from $210.00 to $270.00 and gave the company a “buy” rating in a report on Thursday, November 7th. Finally, Truist Financial boosted their target price on Royal Caribbean Cruises from $204.00 to $272.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $252.31.

Royal Caribbean Cruises Trading Down 2.3 %

Royal Caribbean Cruises stock opened at $232.59 on Monday. Royal Caribbean Cruises has a 12 month low of $113.10 and a 12 month high of $258.70. The company has a quick ratio of 0.16, a current ratio of 0.19 and a debt-to-equity ratio of 2.63. The stock has a market cap of $62.54 billion, a P/E ratio of 23.90, a P/E/G ratio of 0.50 and a beta of 2.59. The company’s fifty day simple moving average is $237.76 and its 200-day simple moving average is $199.00.

Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings results on Tuesday, October 29th. The company reported $5.20 earnings per share for the quarter, topping analysts’ consensus estimates of $5.05 by $0.15. The company 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%. The business’s quarterly revenue was up 17.5% on a year-over-year basis. During the same period last year, the business earned $3.85 EPS. As a group, sell-side analysts forecast that Royal Caribbean Cruises will post 11.66 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Henry L. Pujol sold 6,723 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $208.51, for a total transaction of $1,401,812.73. Following the completion of the transaction, the chief accounting officer now owns 9,964 shares in the company, valued at $2,077,593.64. This trade represents a 40.29 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Arne Alexander Wilhelmsen sold 139,353 shares of the company’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $237.89, for a total value of $33,150,685.17. Following the completion of the sale, the director now owns 18,167,507 shares in the company, valued at $4,321,868,240.23. This trade represents a 0.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 404,332 shares of company stock worth $94,299,521 over the last quarter. Company insiders own 7.95% of the company’s stock.

Hedge Funds Weigh In On Royal Caribbean Cruises

Several institutional investors have recently added to or reduced their stakes in the company. Plato Investment Management Ltd bought a new position in shares of Royal Caribbean Cruises in the third quarter valued at approximately $26,000. Safe Harbor Fiduciary LLC bought a new position in Royal Caribbean Cruises in the 3rd quarter valued at $27,000. DiNuzzo Private Wealth Inc. boosted 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 worth $30,000 after purchasing an additional 121 shares in the last quarter. LRI Investments LLC bought a new stake in shares of Royal Caribbean Cruises during the third quarter worth $31,000. Finally, ORG Wealth Partners LLC bought a new stake in shares of Royal Caribbean Cruises during the fourth quarter worth $40,000. 87.53% of the stock is owned by 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.