Royal Caribbean Cruises (NYSE:RCL) Given New $295.00 Price Target at Susquehanna

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) had its price target cut by equities researchers at Susquehanna from $305.00 to $295.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has a "positive" rating on the stock. Susquehanna's price objective would indicate a potential upside of 38.12% from the stock's current price.

A number of other equities research analysts have also commented on RCL. Barclays upped their price target on Royal Caribbean Cruises from $287.00 to $308.00 and gave the company an "overweight" rating in a research report on Wednesday, January 29th. Truist Financial upped their price target on Royal Caribbean Cruises from $204.00 to $272.00 and gave the company a "buy" rating in a research report on Monday, December 2nd. Argus upped their price target on Royal Caribbean Cruises from $280.00 to $305.00 and gave the company a "buy" rating in a research report on Wednesday, January 29th. Stifel Nicolaus upped their price target on Royal Caribbean Cruises from $250.00 to $310.00 and gave the company a "buy" rating in a research report on Friday, December 6th. Finally, Tigress Financial upped their price target on Royal Caribbean Cruises from $270.00 to $330.00 and gave the company a "buy" rating in a research report on Friday, February 7th. Three equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $283.53.

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Royal Caribbean Cruises Price Performance

RCL traded down $1.95 on Wednesday, reaching $213.59. The stock had a trading volume of 4,740,051 shares, compared to its average volume of 2,632,598. Royal Caribbean Cruises has a fifty-two week low of $125.06 and a fifty-two week high of $277.08. The firm has a 50-day moving average of $243.51 and a 200-day moving average of $218.26. The company has a current ratio of 0.17, a quick ratio of 0.15 and a debt-to-equity ratio of 2.39. The company has a market capitalization of $57.48 billion, a price-to-earnings ratio of 19.98, a price-to-earnings-growth ratio of 0.90 and a beta of 2.53.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last issued its earnings results on Tuesday, January 28th. The company reported $1.63 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.50 by $0.13. Royal Caribbean Cruises had a return on equity of 48.97% and a net margin of 17.46%. During the same period in the previous year, the firm posted $1.25 earnings per share. As a group, sell-side analysts anticipate that Royal Caribbean Cruises will post 14.9 EPS for the current year.

Royal Caribbean Cruises declared that its Board of Directors has initiated a stock repurchase program on Wednesday, February 12th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the company to buy up to 1.5% of its stock through open market purchases. Stock repurchase programs are usually an indication that the company's board believes its shares are undervalued.

Insiders Place Their Bets

In other Royal Caribbean Cruises news, Director Richard D. Fain sold 19,500 shares of the stock in a transaction that occurred on Thursday, February 13th. The stock was sold at an average price of $256.68, for a total value of $5,005,260.00. Following the transaction, the director now owns 185,021 shares in the company, valued at approximately $47,491,190.28. This represents a 9.53 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Naftali Holtz sold 17,000 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $261.62, for a total value of $4,447,540.00. Following the completion of the transaction, the chief financial officer now owns 42,127 shares in the company, valued at approximately $11,021,265.74. The trade was a 28.75 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 109,492 shares of company stock worth $28,571,705. Corporate insiders own 7.95% of the company's stock.

Institutional Trading of Royal Caribbean Cruises

Institutional investors and hedge funds have recently modified their holdings of the stock. Venturi Wealth Management LLC raised its stake in shares of Royal Caribbean Cruises by 511.0% in the fourth quarter. Venturi Wealth Management LLC now owns 2,157 shares of the company's stock worth $498,000 after purchasing an additional 1,804 shares during the last quarter. Park Avenue Securities LLC raised its stake in shares of Royal Caribbean Cruises by 20.1% in the fourth quarter. Park Avenue Securities LLC now owns 6,630 shares of the company's stock worth $1,530,000 after purchasing an additional 1,111 shares during the last quarter. Sanctuary Advisors LLC raised its stake in shares of Royal Caribbean Cruises by 76.1% in the third quarter. Sanctuary Advisors LLC now owns 28,991 shares of the company's stock worth $5,142,000 after purchasing an additional 12,530 shares during the last quarter. Lorne Steinberg Wealth Management Inc. purchased a new stake in shares of Royal Caribbean Cruises in the fourth quarter worth approximately $231,000. Finally, Principal Financial Group Inc. increased its position in shares of Royal Caribbean Cruises by 2.7% during the fourth quarter. Principal Financial Group Inc. now owns 291,027 shares of the company's stock valued at $67,137,000 after acquiring an additional 7,740 shares during the last quarter. 87.53% of the stock is owned by hedge funds and other institutional investors.

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.