Royal Caribbean Cruises (NYSE:RCL) Coverage Initiated at Sanford C. Bernstein

Sanford C. Bernstein initiated coverage on shares of Royal Caribbean Cruises (NYSE:RCL) in a report released on Tuesday morning, Marketbeat.com reports. The brokerage issued an outperform rating and a $290.00 price objective on the stock.

Several other equities research analysts also recently weighed in on the stock. Barclays raised their target price on shares of Royal Caribbean Cruises from $244.00 to $245.00 and gave the company an “overweight” rating in a research note on Wednesday, October 30th. Macquarie upped their target price on Royal Caribbean Cruises from $189.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Stifel Nicolaus increased their price target on Royal Caribbean Cruises from $200.00 to $230.00 and gave the stock a “buy” rating in a research report on Friday, October 11th. Susquehanna lifted their target price 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. Finally, Citigroup lifted their price target on Royal Caribbean Cruises from $253.00 to $257.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, Royal Caribbean Cruises has a consensus rating of “Moderate Buy” and a consensus target price of $224.38.

Royal Caribbean Cruises Trading Up 1.0 %

Shares of RCL opened at $244.06 on Tuesday. Royal Caribbean Cruises has a twelve month low of $106.12 and a twelve month high of $245.91. The company’s fifty day simple moving average is $208.22 and its 200-day simple moving average is $174.80. The company has a market cap of $65.62 billion, a P/E ratio of 25.08, 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.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings data on Tuesday, October 29th. The company reported $5.20 EPS for the quarter, topping the consensus estimate of $5.05 by $0.15. Royal Caribbean Cruises had a return on equity of 52.92% and a net margin of 16.21%. The company had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.89 billion. During the same period last year, the business posted $3.85 EPS. Royal Caribbean Cruises’s quarterly revenue was up 17.5% on a year-over-year basis. As a group, analysts expect that Royal Caribbean Cruises will post 11.65 EPS for the current year.

Insider Activity at Royal Caribbean Cruises

In other news, EVP Harri U. Kulovaara sold 3,256 shares of the company’s stock in a transaction dated Wednesday, November 20th. The stock was sold at an average price of $234.62, for a total value of $763,922.72. Following the completion of the sale, the executive vice president now owns 22,348 shares of the company’s stock, valued at $5,243,287.76. This represents a 12.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Arne Alexander Wilhelmsen sold 139,353 shares of the firm’s stock in a transaction on Thursday, November 21st. The shares were sold at an average price of $237.89, for a total transaction of $33,150,685.17. Following the sale, the director now directly owns 18,167,507 shares of the company’s stock, valued at approximately $4,321,868,240.23. The trade was a 0.76 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 404,332 shares of company stock valued at $94,299,521. 7.95% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Royal Caribbean Cruises

Several hedge funds and other institutional investors have recently modified their holdings of RCL. FSM Wealth Advisors LLC boosted its holdings in shares of Royal Caribbean Cruises by 3.2% in the 3rd quarter. FSM Wealth Advisors LLC now owns 1,636 shares of the company’s stock valued at $290,000 after buying an additional 51 shares during the period. Venturi Wealth Management LLC boosted its position in shares of Royal Caribbean Cruises by 20.9% during the 3rd quarter. Venturi Wealth Management LLC now owns 353 shares of the company’s stock valued at $63,000 after purchasing an additional 61 shares in the last quarter. Venture Visionary Partners LLC boosted its stake in shares of Royal Caribbean Cruises by 4.8% during the 3rd quarter. Venture Visionary Partners LLC now owns 1,366 shares of the company’s stock worth $242,000 after acquiring an additional 62 shares in the last quarter. Empower Advisory Group LLC boosted its position in shares of Royal Caribbean Cruises by 3.7% in the 3rd quarter. Empower Advisory Group LLC now owns 1,755 shares of the company’s stock valued at $311,000 after purchasing an additional 63 shares during the period. Finally, Continuum Advisory LLC increased its position in shares of Royal Caribbean Cruises by 10.3% in the third quarter. Continuum Advisory LLC now owns 705 shares of the company’s stock worth $125,000 after acquiring an additional 66 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.