Royal Caribbean Cruises (NYSE:RCL) Sets New 1-Year High – Still a Buy?

Royal Caribbean Cruises Ltd. (NYSE:RCL)’s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $244.57 and last traded at $243.15, with a volume of 327534 shares traded. The stock had previously closed at $240.39.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Sanford C. Bernstein assumed coverage on shares of Royal Caribbean Cruises in a research report on Tuesday. They issued an “outperform” rating and a $290.00 price target on the stock. Susquehanna boosted their price target on shares of Royal Caribbean Cruises from $160.00 to $180.00 and gave the company a “positive” rating in a report on Tuesday, July 30th. Tigress Financial raised their price objective on Royal Caribbean Cruises from $210.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Barclays boosted their target price on Royal Caribbean Cruises from $244.00 to $245.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Finally, Truist Financial raised their price target on Royal Caribbean Cruises from $175.00 to $204.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Royal Caribbean Cruises presently has an average rating of “Moderate Buy” and an average price target of $224.38.

Royal Caribbean Cruises Stock Performance

The company has a market capitalization of $65.79 billion, a price-to-earnings ratio of 24.71, a P/E/G ratio of 0.64 and a beta of 2.59. The company has a current ratio of 0.19, a quick ratio of 0.16 and a debt-to-equity ratio of 2.63. The stock’s 50 day moving average price is $202.43 and its 200 day moving average price is $172.40.

Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings results on Tuesday, October 29th. The company reported $5.20 EPS for the quarter, beating analysts’ consensus estimates of $5.05 by $0.15. The firm had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $4.89 billion. Royal Caribbean Cruises had a net margin of 16.21% and a return on equity of 52.92%. The company’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same quarter last year, the company posted $3.85 earnings per share. Analysts expect that Royal Caribbean Cruises Ltd. will post 11.64 earnings per share for the current year.

Insider Activity at Royal Caribbean Cruises

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Plato Investment Management Ltd bought a new position in shares of Royal Caribbean Cruises during the 3rd quarter worth approximately $26,000. Unique Wealth Strategies LLC bought a new position in Royal Caribbean Cruises during the second quarter worth $27,000. Safe Harbor Fiduciary LLC acquired a new stake in Royal Caribbean Cruises in the third quarter worth $27,000. Versant Capital Management Inc increased its stake in Royal Caribbean Cruises by 905.3% in the second quarter. Versant Capital Management Inc now owns 191 shares of the company’s stock valued at $30,000 after purchasing an additional 172 shares in the last quarter. Finally, DiNuzzo Private Wealth Inc. raised its holdings in shares of Royal Caribbean Cruises by 257.4% during the third quarter. DiNuzzo Private Wealth Inc. now owns 168 shares of the company’s stock valued at $30,000 after purchasing an additional 121 shares during the period. 87.53% of the stock is owned by institutional investors and hedge funds.

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.