The Goldman Sachs Group Increases Royal Caribbean Cruises (NYSE:RCL) Price Target to $275.00

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) had its target price upped by equities researchers at The Goldman Sachs Group from $245.00 to $275.00 in a research note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. The Goldman Sachs Group's target price indicates a potential upside of 11.97% from the company's previous close.

Several other brokerages also recently issued reports on RCL. Stifel Nicolaus raised their price objective on shares of Royal Caribbean Cruises from $250.00 to $310.00 and gave the stock a "buy" rating in a research report on Friday. Macquarie boosted their price target on Royal Caribbean Cruises from $189.00 to $250.00 and gave the company an "outperform" rating in a research note on Wednesday, October 30th. Truist Financial increased their price objective on Royal Caribbean Cruises from $204.00 to $272.00 and gave the stock a "buy" rating in a research report on Monday, December 2nd. Bank of America lifted their target price on Royal Caribbean Cruises from $210.00 to $240.00 and gave the stock a "neutral" rating in a report on Wednesday, November 13th. Finally, Wells Fargo & Company upped their price target on shares of Royal Caribbean Cruises from $180.00 to $232.00 and gave the company an "overweight" rating in a research note on Wednesday, October 30th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $235.50.

Royal Caribbean Cruises Stock Down 0.6 %

Shares of NYSE:RCL traded down $1.54 during midday trading on Tuesday, reaching $245.60. The company had a trading volume of 2,301,492 shares, compared to its average volume of 2,331,744. The business's 50 day moving average price is $216.77 and its 200 day moving average price is $179.65. Royal Caribbean Cruises has a 1-year low of $113.10 and a 1-year high of $258.70. 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 stock has a market cap of $66.04 billion, a PE ratio of 25.25, a P/E/G ratio of 0.68 and a beta of 2.59.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last issued its earnings results on Tuesday, October 29th. The company reported $5.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $5.05 by $0.15. Royal Caribbean Cruises had a net margin of 16.21% and a return on equity of 52.92%. The company had revenue of $4.89 billion for the quarter, compared to analysts' expectations of $4.89 billion. During the same period in the prior year, the firm earned $3.85 EPS. Royal Caribbean Cruises's quarterly revenue was up 17.5% compared to the same quarter last year. Research analysts forecast that Royal Caribbean Cruises will post 11.65 EPS for the current fiscal year.

Insider Activity

In related news, Director Arne Alexander Wilhelmsen sold 230,000 shares of the company's stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $233.62, for a total value of $53,732,600.00. Following the sale, the director now owns 18,556,860 shares in the company, valued at $4,335,253,633.20. This represents a 1.22 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Henry L. Pujol sold 6,723 shares of the stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $208.51, for a total value of $1,401,812.73. Following the completion of the sale, the chief accounting officer now directly owns 9,964 shares of the company's stock, valued at approximately $2,077,593.64. This trade represents a 40.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 404,332 shares of company stock worth $94,299,521 over the last quarter. 7.95% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Plato Investment Management Ltd bought a new position in Royal Caribbean Cruises during the third quarter valued at $26,000. Unique Wealth Strategies LLC purchased a new position in shares of Royal Caribbean Cruises during the 2nd quarter valued at $27,000. Safe Harbor Fiduciary LLC bought a new position in shares of Royal Caribbean Cruises during the 3rd quarter worth $27,000. DiNuzzo Private Wealth Inc. increased 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 worth $30,000 after acquiring an additional 121 shares during the last quarter. Finally, LRI Investments LLC purchased a new stake in Royal Caribbean Cruises in the 3rd quarter worth about $31,000. 87.53% of the stock is currently owned by hedge funds and other institutional investors.

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.