Royal Caribbean Cruises (NYSE:RCL) Upgraded at StockNews.com

StockNews.com upgraded shares of Royal Caribbean Cruises (NYSE:RCL) from a sell rating to a hold rating in a research report released on Tuesday.

A number of other equities analysts also recently issued reports on RCL. Sanford C. Bernstein began coverage on Royal Caribbean Cruises in a research report on Tuesday. They set an “outperform” rating and a $290.00 price objective for the company. Truist Financial raised their price objective on Royal Caribbean Cruises from $175.00 to $204.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. UBS Group raised their price objective on Royal Caribbean Cruises from $168.00 to $183.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Barclays raised their price objective on Royal Caribbean Cruises from $244.00 to $245.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Finally, Tigress Financial raised their target price on Royal Caribbean Cruises from $210.00 to $270.00 and gave the stock a “buy” rating in a research note on Thursday, November 7th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $224.38.

Royal Caribbean Cruises Price Performance

Shares of RCL stock opened at $244.50 on Tuesday. The company has a quick ratio of 0.16, a current ratio of 0.19 and a debt-to-equity ratio of 2.63. The company has a market cap of $65.74 billion, a P/E ratio of 25.13, a P/E/G ratio of 0.64 and a beta of 2.59. Royal Caribbean Cruises has a twelve month low of $103.99 and a twelve month high of $245.91. The business has a fifty day simple moving average of $203.96 and a 200 day simple moving average of $173.13.

Royal Caribbean Cruises (NYSE:RCL) last posted its earnings results on Tuesday, October 29th. The company reported $5.20 EPS for the quarter, beating the consensus estimate of $5.05 by $0.15. The firm had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $4.89 billion. Royal Caribbean Cruises had a return on equity of 52.92% and a net margin of 16.21%. The business’s quarterly revenue was up 17.5% on a year-over-year basis. During the same period last year, the company earned $3.85 earnings per share. On average, sell-side analysts forecast that Royal Caribbean Cruises will post 11.64 EPS for the current fiscal year.

Insider Activity

In other news, Director Arne Alexander Wilhelmsen sold 139,353 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was sold at an average price of $237.89, for a total value of $33,150,685.17. Following the transaction, the director now owns 18,167,507 shares in the company, valued at $4,321,868,240.23. This trade represents a 0.76 % 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 hyperlink. Also, Director Richard D. Fain sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $210.02, for a total value of $5,250,500.00. Following the completion of the transaction, the director now owns 204,521 shares in the company, valued at $42,953,500.42. This represents a 10.89 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 407,405 shares of company stock worth $94,817,966 over the last 90 days. 7.95% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Wedge Capital Management L L P NC lifted its holdings in shares of Royal Caribbean Cruises by 2.6% in the third quarter. Wedge Capital Management L L P NC now owns 289,518 shares of the company’s stock valued at $51,349,000 after purchasing an additional 7,298 shares in the last quarter. QRG Capital Management Inc. lifted its holdings in Royal Caribbean Cruises by 17.2% during the second quarter. QRG Capital Management Inc. now owns 38,613 shares of the company’s stock worth $6,156,000 after acquiring an additional 5,655 shares during the period. Souders Financial Advisors bought a new stake in Royal Caribbean Cruises during the third quarter worth $800,000. Swiss National Bank lifted its holdings in Royal Caribbean Cruises by 0.5% during the third quarter. Swiss National Bank now owns 725,638 shares of the company’s stock worth $128,699,000 after acquiring an additional 3,800 shares during the period. Finally, New Wave Wealth Advisors LLC bought a new stake in Royal Caribbean Cruises during the second quarter worth $611,000. Institutional investors own 87.53% of the company’s stock.

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.