Morgan Stanley Forecasts Strong Price Appreciation for Royal Caribbean Cruises (NYSE:RCL) Stock

Royal Caribbean Cruises (NYSE:RCL) had its price target increased by stock analysts at Morgan Stanley from $190.00 to $210.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective would indicate a potential downside of 6.63% from the company’s previous close.

A number of other equities research analysts have also commented on RCL. Truist Financial increased their price target on Royal Caribbean Cruises from $204.00 to $272.00 and gave the company a “buy” rating in a research report on Monday, December 2nd. Citigroup raised their target price on Royal Caribbean Cruises from $257.00 to $283.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. Sanford C. Bernstein assumed coverage on shares of Royal Caribbean Cruises in a research note on Tuesday, November 26th. They set an “outperform” rating and a $290.00 price target on the stock. Stifel Nicolaus lifted their target price on Royal Caribbean Cruises from $250.00 to $310.00 and gave the company a “buy” rating in a report on Friday, December 6th. Finally, The Goldman Sachs Group upped their price target on shares of Royal Caribbean Cruises from $245.00 to $275.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $243.25.

Royal Caribbean Cruises Price Performance

RCL stock traded down $0.43 during trading on Wednesday, reaching $224.90. 368,524 shares of the company were exchanged, compared to its average volume of 1,557,553. The company has a 50-day moving average of $234.54 and a two-hundred day moving average of $192.14. The company has a market capitalization of $60.47 billion, a price-to-earnings ratio of 23.11, a P/E/G ratio of 0.65 and a beta of 2.59. Royal Caribbean Cruises has a twelve month low of $113.10 and a twelve month high of $258.70. 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 issued its quarterly earnings data 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. 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 during the quarter, compared to the consensus estimate of $4.89 billion. During the same period last year, the company earned $3.85 earnings per share. The firm’s revenue was up 17.5% compared to the same quarter last year. As a group, equities analysts predict that Royal Caribbean Cruises will post 11.65 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Richard D. Fain sold 25,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 30th. The stock was 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 $42,953,500.42. The trade was a 10.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Arne Alexander Wilhelmsen sold 230,000 shares of Royal Caribbean Cruises stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $233.62, for a total value 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 $4,335,253,633.20. This represents a 1.22 % decrease in their ownership of the stock. 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. Corporate insiders own 7.95% of the company’s stock.

Institutional Trading of Royal Caribbean Cruises

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. FSM Wealth Advisors LLC boosted its position in 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 grew its holdings in shares of Royal Caribbean Cruises by 20.9% during the third quarter. Venturi Wealth Management LLC now owns 353 shares of the company’s stock worth $63,000 after purchasing an additional 61 shares during the last quarter. Venture Visionary Partners LLC lifted its stake in Royal Caribbean Cruises by 4.8% in the third quarter. Venture Visionary Partners LLC now owns 1,366 shares of the company’s stock valued at $242,000 after buying an additional 62 shares during the last quarter. Empower Advisory Group LLC raised its position in 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 last quarter. Finally, Continuum Advisory LLC grew its holdings in shares of Royal Caribbean Cruises by 10.3% during the third quarter. Continuum Advisory LLC now owns 705 shares of the company’s stock worth $125,000 after buying an additional 66 shares during the last quarter. Hedge funds and other 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.