Royal Caribbean Cruises (NYSE:RCL) Price Target Increased to $159.00 by Analysts at Wells Fargo & Company

Royal Caribbean Cruises (NYSE:RCL) had its price objective lifted by Wells Fargo & Company from $153.00 to $159.00 in a research note issued to investors on Friday morning, Benzinga reports. They currently have an overweight rating on the stock.

Several other brokerages have also weighed in on RCL. Barclays boosted their price objective on Royal Caribbean Cruises from $154.00 to $165.00 and gave the company an overweight rating in a report on Friday. UBS Group boosted their price objective on Royal Caribbean Cruises from $148.00 to $154.00 and gave the company a buy rating in a report on Friday, February 16th. Macquarie upped their target price on Royal Caribbean Cruises from $145.00 to $160.00 and gave the company an outperform rating in a report on Friday, March 15th. Stifel Nicolaus upped their target price on Royal Caribbean Cruises from $170.00 to $174.00 and gave the company a buy rating in a report on Thursday, February 22nd. Finally, Mizuho upped their target price on Royal Caribbean Cruises from $164.00 to $168.00 and gave the company a buy rating in a report on Friday. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Royal Caribbean Cruises presently has an average rating of Moderate Buy and an average target price of $138.76.

Royal Caribbean Cruises Stock Up 2.3 %

Shares of NYSE RCL opened at $140.58 on Friday. Royal Caribbean Cruises has a 1 year low of $59.38 and a 1 year high of $141.70. The firm has a market cap of $36.08 billion, a price-to-earnings ratio of 18.12, a PEG ratio of 0.46 and a beta of 2.52. The company has a debt-to-equity ratio of 3.54, a quick ratio of 0.16 and a current ratio of 0.19. The stock’s 50-day simple moving average is $130.20 and its 200-day simple moving average is $117.47.

Royal Caribbean Cruises (NYSE:RCL) last announced its earnings results on Thursday, April 25th. The company reported $1.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.44. The business had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.69 billion. Royal Caribbean Cruises had a return on equity of 51.54% and a net margin of 14.28%. The company’s revenue for the quarter was up 29.2% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.23) earnings per share. As a group, equities analysts anticipate that Royal Caribbean Cruises will post 10.8 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Royal Caribbean Cruises news, CEO Jason T. Liberty sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $139.63, for a total value of $6,981,500.00. Following the completion of the sale, the chief executive officer now directly owns 153,017 shares in the company, valued at $21,365,763.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Royal Caribbean Cruises news, CEO Jason T. Liberty sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $139.63, for a total value of $6,981,500.00. Following the completion of the sale, the chief executive officer now directly owns 153,017 shares in the company, valued at $21,365,763.71. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael W. Bayley sold 11,753 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now owns 166,537 shares of the company’s stock, valued at $19,319,957.37. The disclosure for this sale can be found here. 8.70% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Royal Caribbean Cruises

Several large investors have recently modified their holdings of RCL. State of Alaska Department of Revenue boosted its stake in shares of Royal Caribbean Cruises by 2.8% during the 3rd quarter. State of Alaska Department of Revenue now owns 28,010 shares of the company’s stock worth $2,580,000 after acquiring an additional 750 shares in the last quarter. Oak Thistle LLC bought a new stake in shares of Royal Caribbean Cruises during the 3rd quarter worth $688,000. Czech National Bank boosted its stake in shares of Royal Caribbean Cruises by 58.2% during the 3rd quarter. Czech National Bank now owns 41,191 shares of the company’s stock worth $3,795,000 after acquiring an additional 15,158 shares in the last quarter. Asset Management One Co. Ltd. boosted its stake in shares of Royal Caribbean Cruises by 2.9% during the 3rd quarter. Asset Management One Co. Ltd. now owns 104,442 shares of the company’s stock worth $9,623,000 after acquiring an additional 2,907 shares in the last quarter. Finally, Simplicity Solutions LLC boosted its stake in shares of Royal Caribbean Cruises by 1.6% during the 3rd quarter. Simplicity Solutions LLC now owns 22,764 shares of the company’s stock worth $2,097,000 after acquiring an additional 350 shares in the last quarter. 87.53% of the stock is owned by 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.