Susquehanna Boosts Royal Caribbean Cruises (NYSE:RCL) Price Target to $160.00

Royal Caribbean Cruises (NYSE:RCL) had its price objective raised by equities researchers at Susquehanna from $150.00 to $160.00 in a report issued on Friday, Benzinga reports. The firm currently has a “positive” rating on the stock. Susquehanna’s target price suggests a potential upside of 15.00% from the stock’s previous close.

A number of other research firms have also issued reports on RCL. Wells Fargo & Company lifted their price objective on shares of Royal Caribbean Cruises from $151.00 to $153.00 and gave the company an “overweight” rating in a research note on Monday, February 26th. Barclays boosted their price target on shares of Royal Caribbean Cruises from $154.00 to $165.00 and gave the stock an “overweight” rating in a research report on Friday. UBS Group boosted their price target on shares of Royal Caribbean Cruises from $148.00 to $154.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Morgan Stanley boosted their price target on shares of Royal Caribbean Cruises from $100.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 7th. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Royal Caribbean Cruises in a research report on Monday, April 1st. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, Royal Caribbean Cruises currently has a consensus rating of “Moderate Buy” and a consensus price target of $138.18.

Royal Caribbean Cruises Stock Up 1.2 %

RCL traded up $1.66 during trading hours on Friday, hitting $139.13. 832,176 shares of the company’s stock were exchanged, compared to its average volume of 2,758,702. Royal Caribbean Cruises has a 12-month low of $59.38 and a 12-month high of $141.70. The firm has a 50 day moving average of $129.71 and a 200 day moving average of $117.11. The firm has a market cap of $35.71 billion, a P/E ratio of 22.52, a price-to-earnings-growth ratio of 0.50 and a beta of 2.52. The company has a current ratio of 0.19, a quick ratio of 0.16 and a debt-to-equity ratio of 4.03.

Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings results on Thursday, April 25th. The company reported $1.77 EPS for the quarter, topping the consensus estimate of $1.33 by $0.44. Royal Caribbean Cruises had a net margin of 12.22% and a return on equity of 45.55%. The company had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.69 billion. During the same quarter in the previous year, the business posted ($0.23) EPS. The firm’s revenue was up 29.2% on a year-over-year basis. Analysts predict that Royal Caribbean Cruises will post 10.06 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Michael W. Bayley sold 11,753 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $116.01, for a total value of $1,363,465.53. Following the completion of the transaction, the chief executive officer now directly owns 166,537 shares in the company, valued at $19,319,957.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 8.70% of the company’s stock.

Institutional Investors Weigh In On Royal Caribbean Cruises

A number of hedge funds have recently modified their holdings of RCL. BKM Wealth Management LLC bought a new position in Royal Caribbean Cruises in the fourth quarter valued at approximately $26,000. Scarborough Advisors LLC bought a new position in shares of Royal Caribbean Cruises during the 4th quarter worth approximately $26,000. ST Germain D J Co. Inc. boosted its stake in shares of Royal Caribbean Cruises by 65.0% during the 3rd quarter. ST Germain D J Co. Inc. now owns 330 shares of the company’s stock worth $30,000 after acquiring an additional 130 shares during the period. Creekmur Asset Management LLC bought a new position in shares of Royal Caribbean Cruises during the 4th quarter worth approximately $30,000. Finally, Turtle Creek Wealth Advisors LLC bought a new position in shares of Royal Caribbean Cruises during the 4th quarter worth approximately $33,000. Institutional investors and hedge funds 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.