Royal Caribbean Cruises (NYSE:RCL) Price Target Raised to $253.00

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) had its target price lifted by equities researchers at Citigroup from $204.00 to $253.00 in a report released on Wednesday, Marketbeat Ratings reports. The brokerage currently has a "buy" rating on the stock. Citigroup's price target suggests a potential upside of 31.07% from the stock's current price.

RCL has been the topic of a number of other reports. Mizuho raised their target price on Royal Caribbean Cruises from $168.00 to $195.00 and gave the company an "outperform" rating in a research report on Friday, July 26th. Morgan Stanley raised their target price on Royal Caribbean Cruises from $140.00 to $154.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 7th. Barclays lifted their price objective on Royal Caribbean Cruises from $185.00 to $195.00 and gave the stock an "overweight" rating in a report on Friday, July 26th. The Goldman Sachs Group lifted their price objective on Royal Caribbean Cruises from $170.00 to $195.00 and gave the stock a "buy" rating in a report on Wednesday, July 17th. Finally, StockNews.com upgraded Royal Caribbean Cruises from a "sell" rating to a "hold" rating in a report on Tuesday, September 24th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat, Royal Caribbean Cruises has an average rating of "Moderate Buy" and a consensus price target of $187.19.

Royal Caribbean Cruises Stock Performance

RCL traded up $9.64 during midday trading on Wednesday, hitting $193.03. 2,849,953 shares of the company were exchanged, compared to its average volume of 2,440,407. The company's 50 day simple moving average is $164.00 and its 200 day simple moving average is $153.56. The firm has a market capitalization of $49.68 billion, a price-to-earnings ratio of 24.88, a price-to-earnings-growth ratio of 0.50 and a beta of 2.61. 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 has a 1-year low of $78.35 and a 1-year high of $193.21.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last posted its earnings results on Thursday, July 25th. The company reported $3.21 EPS for the quarter, beating analysts' consensus estimates of $2.76 by $0.45. Royal Caribbean Cruises had a return on equity of 52.49% and a net margin of 16.32%. The firm had revenue of $4.10 billion for the quarter, compared to analysts' expectations of $4.05 billion. During the same period last year, the firm earned $1.82 EPS. The company's quarterly revenue was up 16.4% on a year-over-year basis. As a group, sell-side analysts predict that Royal Caribbean Cruises will post 11.63 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Laura H. Bethge sold 3,073 shares of Royal Caribbean Cruises stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $168.71, for a total transaction of $518,445.83. Following the sale, the insider now owns 27,388 shares of the company's stock, valued at approximately $4,620,629.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Vagn O. Sorensen sold 5,800 shares of Royal Caribbean Cruises stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $158.50, for a total transaction of $919,300.00. Following the sale, the director now owns 25,837 shares of the company's stock, valued at approximately $4,095,164.50. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Laura H. Bethge sold 3,073 shares of Royal Caribbean Cruises stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $168.71, for a total transaction of $518,445.83. Following the completion of the sale, the insider now owns 27,388 shares of the company's stock, valued at $4,620,629.48. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 7.95% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. Scarborough Advisors LLC acquired a new position in Royal Caribbean Cruises during the fourth quarter worth $26,000. Unique Wealth Strategies LLC acquired a new position in Royal Caribbean Cruises during the second quarter worth $27,000. Creekmur Asset Management LLC acquired a new position in Royal Caribbean Cruises during the fourth quarter worth $30,000. Versant Capital Management Inc lifted its stake in Royal Caribbean Cruises by 905.3% during the second quarter. Versant Capital Management Inc now owns 191 shares of the company's stock worth $30,000 after purchasing an additional 172 shares in the last quarter. Finally, AlphaMark Advisors LLC lifted its stake in Royal Caribbean Cruises by 233.3% during the second quarter. AlphaMark Advisors LLC now owns 200 shares of the company's stock worth $32,000 after purchasing an additional 140 shares in the last quarter. 87.53% of the stock is currently owned by institutional investors and hedge funds.

Royal Caribbean Cruises Company Profile

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.