Royal Caribbean Cruises (NYSE:RCL) Stock Price Target Raised at Morgan Stanley

Royal Caribbean Cruises (NYSE:RCL) had its target price hoisted by stock analysts at Morgan Stanley from $300.00 to $330.00 in a report released on Thursday, Benzinga reports. The firm presently has an “equal weight” rating on the stock. Morgan Stanley‘s price target indicates a potential downside of 1.64% from the company’s current price.

Other research analysts also recently issued reports about the stock. Jefferies Financial Group set a $350.00 price target on shares of Royal Caribbean Cruises and gave the stock a “buy” rating in a report on Wednesday, October 28th. Tigress Financial reissued a “buy” rating and set a $425.00 price objective on shares of Royal Caribbean Cruises in a report on Monday, September 28th. Freedom Capital lowered Royal Caribbean Cruises from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 29th. Stifel Nicolaus boosted their price objective on Royal Caribbean Cruises from $410.00 to $415.00 and gave the stock a “buy” rating in a research report on Wednesday, July 29th. Finally, Northcoast Research lowered their target price on Royal Caribbean Cruises from $368.00 to $335.00 and set a “buy” rating for the company in a report on Thursday, September 24th. Twenty-one equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $356.77.

Royal Caribbean Cruises Trading Down 1.3%

Shares of Royal Caribbean Cruises stock opened at $335.51 on Thursday. The firm has a market capitalization of $89.74 billion, a PE ratio of 19.86, a price-to-earnings-growth ratio of 1.18 and a beta of 1.88. The company has a current ratio of 0.22, a quick ratio of 0.19 and a debt-to-equity ratio of 1.69. The firm’s 50 day moving average is $279.21 and its 200 day moving average is $288.69. Royal Caribbean Cruises has a 1 year low of $222.22 and a 1 year high of $356.39.

Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings data on Tuesday, October 27th. The company reported $6.57 EPS for the quarter, beating the consensus estimate of $6.38 by $0.19. Royal Caribbean Cruises had a net margin of 23.78% and a return on equity of 43.40%. The business had revenue of $5.59 billion during the quarter, compared to the consensus estimate of $5.61 billion. During the same quarter in the prior year, the firm earned $5.75 EPS. The firm’s revenue was up 8.8% compared to the same quarter last year. Equities research analysts forecast that Royal Caribbean Cruises will post 17.94 earnings per share for the current fiscal year.

Insider Buying and Selling at Royal Caribbean Cruises

In related news, Director Maritza Montiel sold 400 shares of the stock in a transaction on Friday, October 30th. The stock was sold at an average price of $307.21, for a total value of $122,884.00. Following the completion of the sale, the director directly owned 13,202 shares in the company, valued at $4,055,786.42. This represents a 2.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Arne Wilhelmsen sold 168,530 shares of the stock in a transaction on Tuesday, November 10th. The shares were sold at an average price of $338.98, for a total value of $57,128,299.40. Following the completion of the sale, the director owned 15,709,236 shares of the company’s stock, valued at $5,325,116,819.28. The trade was a 1.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 727,074 shares of company stock worth $242,087,365. 6.44% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Royal Caribbean Cruises

A number of hedge funds have recently made changes to their positions in the stock. State Street Corp lifted its stake in shares of Royal Caribbean Cruises by 1.1% in the third quarter. State Street Corp now owns 10,806,077 shares of the company’s stock worth $2,888,908,000 after acquiring an additional 116,943 shares during the period. Ilmarinen Mutual Pension Insurance Co increased its position in Royal Caribbean Cruises by 24.4% during the 3rd quarter. Ilmarinen Mutual Pension Insurance Co now owns 56,000 shares of the company’s stock valued at $14,888,000 after purchasing an additional 11,000 shares during the period. Oceanic Investment Management LTD increased its position in Royal Caribbean Cruises by 63.1% during the 3rd quarter. Oceanic Investment Management LTD now owns 2,655 shares of the company’s stock valued at $706,000 after purchasing an additional 1,027 shares during the period. E Fund Management Hong Kong Co. Ltd. increased its position in Royal Caribbean Cruises by 137.0% during the 3rd quarter. E Fund Management Hong Kong Co. Ltd. now owns 128 shares of the company’s stock valued at $34,000 after purchasing an additional 74 shares during the period. Finally, TIAA CREF Individual & Institutional Services LLC increased its position in Royal Caribbean Cruises by 12.9% during the 3rd quarter. TIAA CREF Individual & Institutional Services LLC now owns 1,476 shares of the company’s stock valued at $392,000 after purchasing an additional 169 shares during the period. 87.53% of the stock is currently owned by institutional investors.

Royal Caribbean Cruises Company Profile

Royal Caribbean Group, formerly known as Royal Caribbean Cruises Ltd., is a global cruise vacation company. Its brands include Royal Caribbean International, Celebrity Cruises and Silversea Cruises, which offer voyages ranging from large-ship family vacations to premium and luxury experiences. The company serves travelers through itineraries to destinations around the world, including the Caribbean, Europe, Alaska and Asia. Its vacation offerings combine onboard accommodations, dining and entertainment with shore excursions and visits to ports and private destinations.