Royal Caribbean Cruises (NYSE:RCL) Price Target Raised to $318.00 at Citigroup

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) had its target price increased by investment analysts at Citigroup from $268.00 to $318.00 in a report released on Thursday,Benzinga reports. The brokerage presently has a "buy" rating on the stock. Citigroup's price target would indicate a potential upside of 17.17% from the company's current price.

Other equities analysts also recently issued research reports about the stock. Susquehanna decreased their price objective on shares of Royal Caribbean Cruises from $295.00 to $275.00 and set a "positive" rating for the company in a research note on Wednesday, April 30th. BNP Paribas assumed coverage on shares of Royal Caribbean Cruises in a report on Thursday, March 27th. They set an "outperform" rating and a $262.00 price target for the company. Melius Research raised shares of Royal Caribbean Cruises to a "strong-buy" rating in a research note on Monday, April 21st. Morgan Stanley raised their target price on shares of Royal Caribbean Cruises from $220.00 to $230.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 6th. Finally, Northcoast Research began coverage on shares of Royal Caribbean Cruises in a report on Friday, April 25th. They issued a "buy" rating and a $279.00 price target on the stock. Four investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Royal Caribbean Cruises has an average rating of "Moderate Buy" and a consensus price target of $276.90.

Royal Caribbean Cruises Stock Up 2.2%

NYSE RCL traded up $5.75 during midday trading on Thursday, hitting $271.39. 2,206,926 shares of the company traded hands, compared to its average volume of 2,273,862. Royal Caribbean Cruises has a 52 week low of $130.08 and a 52 week high of $277.08. The company's 50-day simple moving average is $222.98 and its 200-day simple moving average is $232.76. The company has a debt-to-equity ratio of 2.39, a current ratio of 0.17 and a quick ratio of 0.15. The company has a market cap of $73.70 billion, a PE ratio of 25.39, a price-to-earnings-growth ratio of 0.90 and a beta of 2.14.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported $2.71 EPS for the quarter, beating analysts' consensus estimates of $2.53 by $0.18. Royal Caribbean Cruises had a return on equity of 48.97% and a net margin of 17.46%. The firm had revenue of $4 billion for the quarter, compared to analysts' expectations of $4.02 billion. During the same period last year, the firm earned $1.77 EPS. The company's quarterly revenue was up 7.3% on a year-over-year basis. As a group, equities research analysts forecast that Royal Caribbean Cruises will post 14.9 earnings per share for the current year.

Royal Caribbean Cruises announced that its board has initiated a stock repurchase plan on Wednesday, February 12th that allows the company to repurchase $1.00 billion in shares. This repurchase authorization allows the company to reacquire up to 1.5% of its shares through open market purchases. Shares repurchase plans are often an indication that the company's management believes its stock is undervalued.

Insiders Place Their Bets

In other news, Director Richard D. Fain sold 19,600 shares of the business's stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $253.10, for a total transaction of $4,960,760.00. Following the completion of the transaction, the director now owns 165,421 shares of the company's stock, valued at approximately $41,868,055.10. The trade was a 10.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 6.95% of the company's stock.

Hedge Funds Weigh In On Royal Caribbean Cruises

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Dorsey & Whitney Trust CO LLC boosted its holdings in Royal Caribbean Cruises by 2.0% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 2,036 shares of the company's stock worth $470,000 after purchasing an additional 39 shares during the last quarter. Ostrum Asset Management increased its holdings in shares of Royal Caribbean Cruises by 0.3% in the 4th quarter. Ostrum Asset Management now owns 11,610 shares of the company's stock worth $2,678,000 after buying an additional 40 shares during the last quarter. Farther Finance Advisors LLC grew its holdings in Royal Caribbean Cruises by 1.6% during the 4th quarter. Farther Finance Advisors LLC now owns 2,730 shares of the company's stock valued at $630,000 after purchasing an additional 42 shares during the last quarter. Hemington Wealth Management grew its holdings in Royal Caribbean Cruises by 9.0% during the 4th quarter. Hemington Wealth Management now owns 533 shares of the company's stock valued at $123,000 after purchasing an additional 44 shares during the last quarter. Finally, Okabena Investment Services Inc. boosted its position in Royal Caribbean Cruises by 0.9% in the 1st quarter. Okabena Investment Services Inc. now owns 4,996 shares of the company's stock valued at $1,026,000 after buying an additional 44 shares during the period. Institutional investors own 87.53% of the company's stock.

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.