Bank of America Issues Positive Forecast for Royal Caribbean Cruises (NYSE:RCL) Stock Price

Royal Caribbean Cruises (NYSE:RCL - Free Report) had its price target boosted by Bank of America from $210.00 to $240.00 in a research report report published on Wednesday morning,Benzinga reports. They currently have a neutral rating on the stock.

RCL has been the topic of several other research reports. The Goldman Sachs Group lifted their price objective on Royal Caribbean Cruises from $220.00 to $245.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Morgan Stanley lifted their price objective on Royal Caribbean Cruises from $140.00 to $154.00 and gave the company an "equal weight" rating in a report on Wednesday, August 7th. Citigroup lifted their price objective on Royal Caribbean Cruises from $253.00 to $257.00 and gave the company a "buy" rating in a report on Wednesday, October 30th. Barclays boosted their target price on Royal Caribbean Cruises from $244.00 to $245.00 and gave the company an "overweight" rating in a research note on Wednesday, October 30th. Finally, StockNews.com upgraded Royal Caribbean Cruises from a "sell" rating to a "hold" rating in a research note on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $220.00.

Royal Caribbean Cruises Trading Down 1.3 %

Shares of Royal Caribbean Cruises stock traded down $3.17 during trading on Wednesday, hitting $234.25. 1,843,321 shares of the company were exchanged, compared to its average volume of 2,384,598. The firm has a market capitalization of $62.99 billion, a P/E ratio of 24.08, a price-to-earnings-growth ratio of 0.63 and a beta of 2.59. Royal Caribbean Cruises has a 1-year low of $100.50 and a 1-year high of $238.10. The firm's fifty day moving average price is $189.16 and its 200 day moving average price is $166.37. The company has a debt-to-equity ratio of 2.63, a current ratio of 0.19 and a quick ratio of 0.16.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last posted its earnings results on Tuesday, October 29th. The company reported $5.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.05 by $0.15. The company had revenue of $4.89 billion during the quarter, compared to analyst estimates of $4.89 billion. Royal Caribbean Cruises had a return on equity of 52.92% and a net margin of 16.21%. The company's revenue for the quarter was up 17.5% compared to the same quarter last year. During the same period in the previous year, the company earned $3.85 EPS. As a group, sell-side analysts expect that Royal Caribbean Cruises will post 11.64 earnings per share for the current fiscal year.

Insider Transactions at Royal Caribbean Cruises

In other 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 transaction of $518,445.83. Following the sale, the insider now owns 27,388 shares in the company, valued at $4,620,629.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. In related news, Director Vagn O. Sorensen sold 5,800 shares of the business's stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $158.50, for a total transaction of $919,300.00. Following the transaction, the director now directly 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Laura H. Bethge sold 3,073 shares of the business'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 $4,620,629.48. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 40,596 shares of company stock worth $8,090,059 in the last 90 days. Corporate insiders own 7.95% of the company's stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Plato Investment Management Ltd acquired a new position in Royal Caribbean Cruises in the 3rd quarter valued at $26,000. DiNuzzo Private Wealth Inc. grew its holdings in Royal Caribbean Cruises by 257.4% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 168 shares of the company's stock valued at $30,000 after buying an additional 121 shares in the last quarter. Unique Wealth Strategies LLC acquired a new stake in shares of Royal Caribbean Cruises during the 2nd quarter worth $27,000. Versant Capital Management Inc grew its holdings in shares of Royal Caribbean Cruises by 905.3% during the 2nd 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 grew its holdings in shares of Royal Caribbean Cruises by 233.3% during the 2nd 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 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.