Royal Caribbean Cruises Ltd. (NYSE:RCL) Receives Average Rating of “Moderate Buy” from Brokerages

Royal Caribbean Cruises Ltd. (NYSE:RCL) has received a consensus rating of “Moderate Buy” from the sixteen ratings firms that are presently covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $224.38.

RCL has been the topic of a number of research reports. The Goldman Sachs Group lifted their price target on shares of Royal Caribbean Cruises from $220.00 to $245.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Stifel Nicolaus boosted their target price on Royal Caribbean Cruises from $200.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Wells Fargo & Company increased their price target on Royal Caribbean Cruises from $180.00 to $232.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Bank of America boosted their price objective on Royal Caribbean Cruises from $210.00 to $240.00 and gave the company a “neutral” rating in a research note on Wednesday, November 13th. Finally, StockNews.com upgraded shares of Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a research report on Tuesday.

Royal Caribbean Cruises Stock Up 1.7 %

Shares of NYSE:RCL opened at $244.50 on Wednesday. Royal Caribbean Cruises has a 1 year low of $103.99 and a 1 year high of $245.91. The company has a market capitalization of $65.74 billion, a PE ratio of 25.13, a price-to-earnings-growth ratio of 0.64 and a beta of 2.59. The business has a fifty day moving average price of $203.96 and a two-hundred day moving average price of $173.13. The company has a debt-to-equity ratio of 2.63, a current ratio of 0.19 and a quick ratio of 0.16.

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, beating the consensus estimate of $5.05 by $0.15. The company had revenue of $4.89 billion during the quarter, compared to analyst estimates of $4.89 billion. Royal Caribbean Cruises had a net margin of 16.21% and a return on equity of 52.92%. The firm’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.85 earnings per share. Analysts forecast that Royal Caribbean Cruises will post 11.64 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Richard D. Fain sold 25,000 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $210.02, for a total transaction of $5,250,500.00. Following the completion of the transaction, the director now owns 204,521 shares of the company’s stock, valued at approximately $42,953,500.42. The trade was a 10.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Laura H. Bethge sold 3,073 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were 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 directly owns 27,388 shares in the company, valued at $4,620,629.48. This represents a 10.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 407,405 shares of company stock worth $94,817,966. Corporate insiders own 7.95% of the company’s stock.

Hedge Funds Weigh In On Royal Caribbean Cruises

Institutional investors have recently made changes to their positions in the stock. Plato Investment Management Ltd bought a new stake in shares of Royal Caribbean Cruises during the 3rd quarter worth $26,000. Unique Wealth Strategies LLC bought a new stake in Royal Caribbean Cruises during the second quarter worth about $27,000. Safe Harbor Fiduciary LLC purchased a new position in shares of Royal Caribbean Cruises in the 3rd quarter worth about $27,000. Versant Capital Management Inc increased its position in shares of Royal Caribbean Cruises by 905.3% during the 2nd quarter. Versant Capital Management Inc now owns 191 shares of the company’s stock valued at $30,000 after purchasing an additional 172 shares during the last quarter. Finally, DiNuzzo Private Wealth Inc. raised its holdings in shares of Royal Caribbean Cruises by 257.4% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 168 shares of the company’s stock valued at $30,000 after buying an additional 121 shares in the last quarter. Institutional investors 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.