Royal Caribbean Cruises (NYSE:RCL) Price Target Raised to $232.00 at Wells Fargo & Company

Royal Caribbean Cruises (NYSE:RCL) had its target price raised by Wells Fargo & Company from $180.00 to $232.00 in a research note released on Wednesday, Benzinga reports. Wells Fargo & Company currently has an overweight rating on the stock.

RCL has been the subject of a number of other research reports. The Goldman Sachs Group boosted their target price on Royal Caribbean Cruises from $220.00 to $245.00 and gave the stock a “buy” rating in a research report on Wednesday. StockNews.com raised shares of Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a report on Tuesday, September 24th. Tigress Financial increased their target price on Royal Caribbean Cruises from $155.00 to $210.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. Citigroup boosted their price objective on shares of Royal Caribbean Cruises from $204.00 to $253.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, UBS Group boosted their price target on shares of Royal Caribbean Cruises from $168.00 to $183.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. One analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $214.00.

Royal Caribbean Cruises Stock Down 0.8 %

Shares of RCL opened at $208.34 on Wednesday. The business’s 50 day simple moving average is $179.29 and its 200-day simple moving average is $160.68. The company has a debt-to-equity ratio of 3.20, a current ratio of 0.19 and a quick ratio of 0.17. Royal Caribbean Cruises has a one year low of $83.25 and a one year high of $214.12. The company has a market capitalization of $53.62 billion, a P/E ratio of 22.72, a PEG ratio of 0.58 and a beta of 2.61.

Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings results on Tuesday, October 29th. The company reported $5.20 earnings per share (EPS) for the quarter, topping the consensus estimate 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 business had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.89 billion. During the same quarter in the prior year, the company earned $3.85 EPS. The firm’s quarterly revenue was up 17.5% on a year-over-year basis. As a group, sell-side analysts predict that Royal Caribbean Cruises will post 11.61 EPS for the current fiscal year.

Insider Buying and Selling at Royal Caribbean Cruises

In other news, insider Laura H. Bethge sold 3,073 shares of the firm’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 in the company, valued at $4,620,629.48. This trade represents 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 stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $168.71, for a total transaction 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 approximately $4,620,629.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Naftali Holtz acquired 5,350 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were bought at an average price of $140.00 per share, for a total transaction of $749,000.00. Following the purchase, the chief financial officer now owns 48,256 shares in the company, valued at approximately $6,755,840. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 7.95% of the company’s stock.

Institutional Investors Weigh In On Royal Caribbean Cruises

A number of institutional investors and hedge funds have recently modified their holdings of RCL. Unique Wealth Strategies LLC acquired a new position in Royal Caribbean Cruises during the second quarter worth approximately $27,000. Versant Capital Management Inc increased its holdings in shares of Royal Caribbean Cruises by 905.3% during the 2nd quarter. Versant Capital Management Inc now owns 191 shares of the company’s stock worth $30,000 after acquiring an additional 172 shares during the last quarter. DiNuzzo Private Wealth Inc. raised its stake in Royal Caribbean Cruises by 257.4% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 168 shares of the company’s stock valued at $30,000 after acquiring an additional 121 shares during the period. AlphaMark Advisors LLC lifted its holdings in Royal Caribbean Cruises by 233.3% during the 2nd quarter. AlphaMark Advisors LLC now owns 200 shares of the company’s stock valued at $32,000 after purchasing an additional 140 shares during the last quarter. Finally, Meeder Asset Management Inc. lifted its holdings in Royal Caribbean Cruises by 50.3% during the 2nd quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock valued at $37,000 after purchasing an additional 78 shares during the last quarter. 87.53% of the stock is owned by institutional investors.

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.