Bank of America Issues Positive Forecast for Royal Caribbean Cruises (NYSE:RCL) Stock Price

Royal Caribbean Cruises (NYSE:RCL) had its target price upped by Bank of America from $205.00 to $210.00 in a research note released on Wednesday morning, Benzinga reports. Bank of America currently has a neutral rating on the stock.

A number of other brokerages also recently weighed in on RCL. Tigress Financial boosted their price target on Royal Caribbean Cruises from $155.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. boosted their target price on Royal Caribbean Cruises from $213.00 to $243.00 and gave the stock an “overweight” rating in a report on Tuesday. StockNews.com raised Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a report on Tuesday, September 24th. Morgan Stanley lifted their price objective on shares of Royal Caribbean Cruises from $140.00 to $154.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 7th. Finally, Stifel Nicolaus increased their price objective on shares of Royal Caribbean Cruises from $200.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, October 11th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, Royal Caribbean Cruises has a consensus rating of “Moderate Buy” and an average target price of $214.00.

Royal Caribbean Cruises Trading Down 0.8 %

NYSE RCL opened at $208.34 on Wednesday. Royal Caribbean Cruises has a 12 month low of $83.25 and a 12 month high of $214.12. The company has a current ratio of 0.19, a quick ratio of 0.17 and a debt-to-equity ratio of 3.20. The stock has a 50 day moving average of $179.29 and a 200-day moving average of $160.68. The company has a market cap of $53.62 billion, a PE ratio of 22.72, a PEG ratio of 0.58 and a beta of 2.61.

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. Royal Caribbean Cruises had a net margin of 16.32% and a return on equity of 52.49%. The firm had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $4.89 billion. During the same quarter last year, the company posted $3.85 earnings per share. The company’s revenue for the quarter was up 17.5% compared to the same quarter last year. On average, equities research analysts anticipate that Royal Caribbean Cruises will post 11.61 EPS for the current fiscal year.

Insider Buying and Selling

In other Royal Caribbean Cruises news, insider Laura H. Bethge sold 3,073 shares of Royal Caribbean Cruises 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 completion of the transaction, the insider now directly owns 27,388 shares of the company’s stock, valued at $4,620,629.48. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Laura H. Bethge sold 3,073 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $168.71, for a total value of $518,445.83. Following the completion of the transaction, the insider now owns 27,388 shares of the company’s stock, valued at $4,620,629.48. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Vagn O. Sorensen sold 5,800 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $158.50, for a total transaction of $919,300.00. Following the sale, the director now owns 25,837 shares in the company, valued at $4,095,164.50. The trade was 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 currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Capital International Investors increased its stake in shares of Royal Caribbean Cruises by 1.0% in the 1st quarter. Capital International Investors now owns 29,596,455 shares of the company’s stock valued at $4,114,203,000 after purchasing an additional 286,868 shares during the last quarter. Vanguard Group Inc. boosted its stake in Royal Caribbean Cruises by 0.5% in the first quarter. Vanguard Group Inc. now owns 25,409,272 shares of the company’s stock valued at $3,532,143,000 after buying an additional 132,079 shares in the last quarter. Dimensional Fund Advisors LP grew its position in Royal Caribbean Cruises by 24.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,048,501 shares of the company’s stock valued at $326,616,000 after acquiring an additional 400,565 shares during the last quarter. D1 Capital Partners L.P. raised its stake in Royal Caribbean Cruises by 105.7% during the second quarter. D1 Capital Partners L.P. now owns 1,512,103 shares of the company’s stock worth $241,075,000 after acquiring an additional 777,103 shares in the last quarter. Finally, Capital International Inc. CA lifted its holdings in shares of Royal Caribbean Cruises by 3.3% in the first quarter. Capital International Inc. CA now owns 601,917 shares of the company’s stock worth $83,672,000 after acquiring an additional 19,065 shares during the last quarter. 87.53% of the stock is currently 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.