Royal Caribbean Cruises (NYSE:RCL) Price Target Raised to $210.00 at Bank of America

Royal Caribbean Cruises (NYSE:RCL) had its price objective hoisted by stock analysts at Bank of America from $205.00 to $210.00 in a research report issued on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Bank of America‘s price target indicates a potential downside of 0.10% from the stock’s previous close.

RCL has been the topic of several other research reports. UBS Group boosted their price target on shares of Royal Caribbean Cruises from $168.00 to $183.00 and gave the stock a “buy” rating in a research note on Wednesday, July 31st. Citigroup boosted 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. Tigress Financial raised their price target on Royal Caribbean Cruises from $155.00 to $210.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Susquehanna upped their price objective on Royal Caribbean Cruises from $160.00 to $180.00 and gave the stock a “positive” rating in a report on Tuesday, July 30th. Finally, Macquarie increased their target price on Royal Caribbean Cruises from $165.00 to $189.00 and gave the company an “outperform” rating in a research report on Tuesday, July 30th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, Royal Caribbean Cruises presently has an average rating of “Moderate Buy” and an average price target of $201.80.

Royal Caribbean Cruises Stock Up 3.3 %

Shares of RCL opened at $210.21 on Wednesday. The business’s 50 day moving average is $178.28 and its 200 day moving average is $160.35. The company has a current ratio of 0.19, a quick ratio of 0.17 and a debt-to-equity ratio of 3.20. Royal Caribbean Cruises has a 12-month low of $83.25 and a 12-month high of $214.12. The company has a market capitalization of $54.10 billion, a PE ratio of 22.92, a price-to-earnings-growth ratio of 0.58 and a beta of 2.61.

Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings data on Tuesday, October 29th. The company reported $5.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.05 by $0.15. Royal Caribbean Cruises had a net margin of 16.32% and a return on equity of 52.49%. The business had revenue of $4.89 billion during the quarter, compared to analyst estimates of $4.89 billion. During the same period last year, the firm posted $3.85 EPS. The company’s revenue was up 17.5% on a year-over-year basis. Research analysts expect that Royal Caribbean Cruises will post 11.61 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Laura H. Bethge sold 3,073 shares of the stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $168.71, for a total value of $518,445.83. Following the sale, the insider now directly owns 27,388 shares of the company’s stock, valued at $4,620,629.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Royal Caribbean Cruises news, insider Laura H. Bethge sold 3,073 shares of the company’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $168.71, for a total value of $518,445.83. Following the transaction, the insider now owns 27,388 shares of the company’s stock, valued at $4,620,629.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Vagn O. Sorensen sold 5,800 shares of Royal Caribbean Cruises 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. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.95% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Royal Caribbean Cruises

Several large investors have recently added to or reduced their stakes in RCL. Unique Wealth Strategies LLC bought a new stake in shares of Royal Caribbean Cruises during the second quarter valued at approximately $27,000. Versant Capital Management Inc increased its holdings in Royal Caribbean Cruises by 905.3% during the 2nd quarter. Versant Capital Management Inc now owns 191 shares of the company’s stock worth $30,000 after purchasing an additional 172 shares during the period. DiNuzzo Private Wealth Inc. increased its holdings in Royal Caribbean Cruises by 257.4% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 168 shares of the company’s stock worth $30,000 after purchasing an additional 121 shares during the period. AlphaMark Advisors LLC raised its position in Royal Caribbean Cruises by 233.3% during the 2nd quarter. AlphaMark Advisors LLC now owns 200 shares of the company’s stock valued at $32,000 after purchasing an additional 140 shares in the last quarter. Finally, Meeder Asset Management Inc. lifted its holdings in shares of Royal Caribbean Cruises by 50.3% in the 2nd quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock worth $37,000 after buying an additional 78 shares during the period. 87.53% of the stock is owned by hedge funds and other institutional investors.

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.