Royal Caribbean Cruises (NYSE:RCL) Price Target Raised to $245.00

Royal Caribbean Cruises (NYSE:RCLFree Report) had its target price hoisted by The Goldman Sachs Group from $220.00 to $245.00 in a research note issued to investors on Wednesday, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

Several other brokerages have also weighed in on RCL. Mizuho lifted their price target on Royal Caribbean Cruises from $168.00 to $195.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Susquehanna boosted their price objective on Royal Caribbean Cruises from $160.00 to $180.00 and gave the company a “positive” rating in a research report on Tuesday, July 30th. Truist Financial increased their target price on Royal Caribbean Cruises from $175.00 to $204.00 and gave the company a “buy” rating in a research report on Thursday, September 26th. Barclays boosted their price target on shares of Royal Caribbean Cruises from $244.00 to $245.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, StockNews.com raised shares of Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a report on Tuesday, September 24th. One analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $214.00.

Get Our Latest Stock Report on Royal Caribbean Cruises

Royal Caribbean Cruises Trading Down 0.8 %

Royal Caribbean Cruises stock opened at $208.34 on Wednesday. The firm has a market cap of $53.62 billion, a PE ratio of 22.72, a P/E/G ratio of 0.58 and a beta of 2.61. Royal Caribbean Cruises has a 12 month low of $83.25 and a 12 month high of $214.12. The stock’s 50 day simple moving average is $179.29 and its two-hundred day simple moving average is $160.68. The company has a current ratio of 0.19, a quick ratio of 0.17 and a debt-to-equity ratio of 3.20.

Royal Caribbean Cruises (NYSE:RCLGet Free Report) last announced its quarterly 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. 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 for the quarter, compared to the consensus estimate of $4.89 billion. During the same period in the prior year, the firm posted $3.85 earnings per share. The firm’s quarterly revenue was up 17.5% compared to the same quarter last year. Analysts anticipate that Royal Caribbean Cruises will post 11.61 earnings per share for the current year.

Insider Transactions at Royal Caribbean Cruises

In related news, CFO Naftali Holtz bought 5,350 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was bought at an average cost of $140.00 per share, for a total transaction of $749,000.00. Following the acquisition, the chief financial officer now directly owns 48,256 shares in the company, valued at $6,755,840. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Laura H. Bethge sold 3,073 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now directly owns 27,388 shares in the company, valued at approximately $4,620,629.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Naftali Holtz bought 5,350 shares of the business’s stock in a transaction on Friday, August 2nd. The shares were acquired at an average cost of $140.00 per share, with a total value of $749,000.00. Following the purchase, the chief financial officer now owns 48,256 shares of the company’s stock, valued at $6,755,840. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 7.95% of the company’s stock.

Hedge Funds Weigh In On Royal Caribbean Cruises

A number of hedge funds have recently modified their holdings of the business. Allspring Global Investments Holdings LLC boosted its stake in Royal Caribbean Cruises by 7.8% during the first quarter. Allspring Global Investments Holdings LLC now owns 260,893 shares of the company’s stock worth $36,267,000 after buying an additional 18,780 shares during the period. State of Alaska Department of Revenue boosted its position in shares of Royal Caribbean Cruises by 0.5% during the 1st quarter. State of Alaska Department of Revenue now owns 25,595 shares of the company’s stock worth $3,557,000 after purchasing an additional 135 shares during the period. Kovack Advisors Inc. boosted its position in shares of Royal Caribbean Cruises by 36.7% during the 1st quarter. Kovack Advisors Inc. now owns 2,606 shares of the company’s stock worth $362,000 after purchasing an additional 699 shares during the period. First Trust Direct Indexing L.P. increased its holdings in Royal Caribbean Cruises by 5.2% in the 1st quarter. First Trust Direct Indexing L.P. now owns 7,672 shares of the company’s stock valued at $1,066,000 after purchasing an additional 379 shares during the last quarter. Finally, New Century Financial Group LLC raised its position in Royal Caribbean Cruises by 10.3% in the first quarter. New Century Financial Group LLC now owns 2,490 shares of the company’s stock valued at $346,000 after purchasing an additional 232 shares during the period. 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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