Royal Caribbean Cruises (NYSE:RCL) Price Target Increased to $165.00 by Analysts at Wells Fargo & Company

Royal Caribbean Cruises (NYSE:RCLFree Report) had its target price hoisted by Wells Fargo & Company from $159.00 to $165.00 in a research note published on Friday morning, Benzinga reports. They currently have an overweight rating on the stock.

A number of other research analysts have also issued reports on RCL. UBS Group lifted their target price on Royal Caribbean Cruises from $154.00 to $168.00 and gave the company a buy rating in a report on Tuesday, May 14th. The Goldman Sachs Group reissued a buy rating on shares of Royal Caribbean Cruises in a research report on Monday, April 1st. Barclays raised their target price on shares of Royal Caribbean Cruises from $154.00 to $165.00 and gave the company an overweight rating in a report on Friday, April 26th. Stifel Nicolaus boosted their price target on shares of Royal Caribbean Cruises from $170.00 to $174.00 and gave the stock a buy rating in a report on Thursday, February 22nd. Finally, Morgan Stanley raised their price objective on shares of Royal Caribbean Cruises from $100.00 to $115.00 and gave the company an equal weight rating in a report on Wednesday, February 7th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, Royal Caribbean Cruises presently has an average rating of Moderate Buy and an average target price of $147.38.

Get Our Latest Report on Royal Caribbean Cruises

Royal Caribbean Cruises Stock Performance

NYSE RCL opened at $147.70 on Friday. The company has a market cap of $38.01 billion, a P/E ratio of 19.03, a P/E/G ratio of 0.43 and a beta of 2.49. Royal Caribbean Cruises has a 1-year low of $76.31 and a 1-year high of $150.90. The company has a debt-to-equity ratio of 3.54, a current ratio of 0.19 and a quick ratio of 0.16. The stock has a 50-day moving average of $136.18 and a two-hundred day moving average of $124.28.

Royal Caribbean Cruises (NYSE:RCLGet Free Report) last announced its quarterly earnings data on Thursday, April 25th. The company reported $1.77 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.44. The firm had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.69 billion. Royal Caribbean Cruises had a net margin of 14.28% and a return on equity of 51.54%. The business’s quarterly revenue was up 29.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.23) earnings per share. As a group, analysts anticipate that Royal Caribbean Cruises will post 11.09 EPS for the current year.

Insider Buying and Selling at Royal Caribbean Cruises

In other news, CEO Michael W. Bayley sold 24,201 shares of the stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $140.21, for a total value of $3,393,222.21. Following the completion of the transaction, the chief executive officer now owns 98,850 shares in the company, valued at approximately $13,859,758.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Michael W. Bayley sold 24,201 shares of the business’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $140.21, for a total transaction of $3,393,222.21. Following the sale, the chief executive officer now owns 98,850 shares of the company’s stock, valued at approximately $13,859,758.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Henry L. Pujol sold 9,944 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $141.23, for a total value of $1,404,391.12. Following the completion of the transaction, the chief accounting officer now directly owns 16,687 shares of the company’s stock, valued at $2,356,705.01. The disclosure for this sale can be found here. Over the last quarter, insiders sold 84,145 shares of company stock valued at $11,779,113. 7.95% of the stock is owned by company insiders.

Institutional Investors Weigh In On Royal Caribbean Cruises

Several institutional investors and hedge funds have recently made changes to their positions in RCL. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Royal Caribbean Cruises by 36.0% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 39,459 shares of the company’s stock valued at $3,636,000 after purchasing an additional 10,443 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Royal Caribbean Cruises by 11.3% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 18,790 shares of the company’s stock valued at $1,731,000 after buying an additional 1,904 shares during the last quarter. Teacher Retirement System of Texas grew its holdings in Royal Caribbean Cruises by 159.1% during the 3rd quarter. Teacher Retirement System of Texas now owns 93,652 shares of the company’s stock valued at $8,629,000 after buying an additional 57,508 shares during the last quarter. Wealthfront Advisers LLC increased its position in Royal Caribbean Cruises by 117.2% during the third quarter. Wealthfront Advisers LLC now owns 19,174 shares of the company’s stock worth $1,767,000 after buying an additional 10,348 shares in the last quarter. Finally, New Mexico Educational Retirement Board raised its holdings in shares of Royal Caribbean Cruises by 7.5% in the third quarter. New Mexico Educational Retirement Board now owns 11,450 shares of the company’s stock worth $1,055,000 after acquiring an additional 800 shares during the last quarter. 87.53% of the stock is currently owned by hedge funds and other institutional investors.

Royal Caribbean Cruises Company Profile

(Get Free Report)

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.

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Analyst Recommendations for Royal Caribbean Cruises (NYSE:RCL)

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