Royal Caribbean Cruises (NYSE:RCL) Price Target Raised to $310.00 at Stifel Nicolaus

Royal Caribbean Cruises (NYSE:RCL) had its price target lifted by Stifel Nicolaus from $250.00 to $310.00 in a research note published on Friday,Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

Other analysts have also issued research reports about the stock. Wells Fargo & Company lifted their price target on shares of Royal Caribbean Cruises from $180.00 to $232.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 30th. Macquarie boosted their price target on Royal Caribbean Cruises from $189.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Bank of America upped their price target on Royal Caribbean Cruises from $210.00 to $240.00 and gave the company a “neutral” rating in a research report on Wednesday, November 13th. The Goldman Sachs Group lifted their price objective 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. Finally, Barclays increased their target price on shares of Royal Caribbean Cruises from $244.00 to $245.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $233.63.

Royal Caribbean Cruises Price Performance

RCL opened at $258.01 on Friday. Royal Caribbean Cruises has a twelve month low of $113.10 and a twelve month high of $258.21. 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 firm has a market cap of $69.37 billion, a price-to-earnings ratio of 26.52, a PEG ratio of 0.66 and a beta of 2.59. The company has a fifty day simple moving average of $213.77 and a 200 day simple moving average of $177.76.

Royal Caribbean Cruises (NYSE:RCL) last announced its earnings results on Tuesday, October 29th. The company reported $5.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.05 by $0.15. The business had revenue of $4.89 billion for the quarter, compared to analyst estimates of $4.89 billion. Royal Caribbean Cruises had a return on equity of 52.92% and a net margin of 16.21%. The company’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same period in the previous year, the company earned $3.85 earnings per share. Equities research analysts expect that Royal Caribbean Cruises will post 11.64 EPS for the current fiscal year.

Insider Activity

In related news, Director Arne Alexander Wilhelmsen sold 230,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $233.62, for a total transaction of $53,732,600.00. Following the completion of the sale, the director now directly owns 18,556,860 shares in the company, valued at approximately $4,335,253,633.20. This trade represents a 1.22 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Richard D. Fain sold 25,000 shares of the company’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 transaction, the director now directly owns 204,521 shares in the company, valued at $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 ninety days, insiders have sold 404,332 shares of company stock worth $94,299,521. 7.95% of the stock is owned by company insiders.

Institutional Investors Weigh In On Royal Caribbean Cruises

A number of institutional investors and hedge funds have recently modified their holdings of RCL. Park Avenue Securities LLC raised its holdings in Royal Caribbean Cruises by 5.4% during the 2nd quarter. Park Avenue Securities LLC now owns 7,107 shares of the company’s stock worth $1,133,000 after buying an additional 365 shares during the period. Capital Investment Advisors LLC purchased a new position in Royal Caribbean Cruises during the 2nd quarter worth approximately $317,000. QRG Capital Management Inc. lifted its holdings in shares of Royal Caribbean Cruises by 17.2% in the second quarter. QRG Capital Management Inc. now owns 38,613 shares of the company’s stock valued at $6,156,000 after purchasing an additional 5,655 shares in the last quarter. Czech National Bank lifted its stake in Royal Caribbean Cruises by 8.7% in the 2nd quarter. Czech National Bank now owns 45,117 shares of the company’s stock worth $7,193,000 after acquiring an additional 3,609 shares in the last quarter. Finally, Granite Bay Wealth Management LLC acquired a new stake in Royal Caribbean Cruises during the 2nd quarter worth about $253,000. 87.53% of the stock is owned by institutional investors and hedge funds.

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.