Accuvest Global Advisors Invests $311,000 in Royal Caribbean Cruises Ltd. (NYSE:RCL)

Key Points

• Accuvest Global Advisors has acquired 1,516 shares of Royal Caribbean Cruises Ltd. valued at approximately $311,000 as part of their first-quarter investments.
• After reporting earnings of $4.38 EPS, Royal Caribbean exceeded consensus estimates and experienced a revenue increase of 10.4% year-over-year, reaching $4.54 billion.
• According to research reports, Royal Caribbean's stock is rated as a "Moderate Buy" with a consensus target price of $321.10, reflecting strong optimism among analysts.

Accuvest Global Advisors acquired a new position in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,516 shares of the company's stock, valued at approximately $311,000.

Several other large investors have also recently made changes to their positions in the stock. Financial Gravity Asset Management Inc. acquired a new stake in Royal Caribbean Cruises during the 1st quarter worth approximately $25,000. Hughes Financial Services LLC acquired a new stake in Royal Caribbean Cruises during the 1st quarter worth approximately $26,000. Optimum Investment Advisors acquired a new stake in Royal Caribbean Cruises during the 1st quarter worth approximately $31,000. Fourth Dimension Wealth LLC acquired a new stake in Royal Caribbean Cruises during the 4th quarter worth approximately $35,000. Finally, Capital A Wealth Management LLC acquired a new stake in Royal Caribbean Cruises during the 4th quarter worth approximately $40,000. 87.53% of the stock is currently owned by institutional investors and hedge funds.

Royal Caribbean Cruises Stock Up 0.8%

RCL stock opened at $313.72 on Thursday. Royal Caribbean Cruises Ltd. has a one year low of $147.05 and a one year high of $355.91. The stock has a market capitalization of $85.21 billion, a PE ratio of 23.52, a price-to-earnings-growth ratio of 0.87 and a beta of 2.22. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.21 and a current ratio of 0.23. The company has a fifty day moving average of $306.51 and a 200-day moving average of $255.41.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last released its earnings results on Tuesday, July 29th. The company reported $4.38 EPS for the quarter, topping the consensus estimate of $4.04 by $0.34. Royal Caribbean Cruises had a net margin of 20.97% and a return on equity of 47.15%. The company had revenue of $4.54 billion during the quarter, compared to analysts' expectations of $4.54 billion. During the same quarter last year, the business earned $3.21 EPS. The business's revenue was up 10.4% on a year-over-year basis. As a group, analysts expect that Royal Caribbean Cruises Ltd. will post 14.9 EPS for the current year.

Wall Street Analyst Weigh In

RCL has been the topic of a number of research reports. Melius Research upgraded shares of Royal Caribbean Cruises to a "strong-buy" rating in a report on Monday, April 21st. Loop Capital reissued a "buy" rating and issued a $290.00 price objective (up from $250.00) on shares of Royal Caribbean Cruises in a research report on Tuesday, June 3rd. Bank of America increased their price objective on shares of Royal Caribbean Cruises from $230.00 to $355.00 and gave the company a "neutral" rating in a research report on Wednesday, July 23rd. TD Cowen started coverage on shares of Royal Caribbean Cruises in a research report on Tuesday, July 22nd. They issued a "buy" rating and a $405.00 price objective on the stock. Finally, Wall Street Zen downgraded shares of Royal Caribbean Cruises from a "buy" rating to a "hold" rating in a research report on Saturday, June 28th. Five analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Royal Caribbean Cruises currently has an average rating of "Moderate Buy" and a consensus target price of $321.10.

Insider Activity

In other Royal Caribbean Cruises news, Director Richard D. Fain sold 19,600 shares of the company's stock in a transaction dated Monday, May 19th. The shares were sold at an average price of $253.10, for a total value of $4,960,760.00. Following the sale, the director owned 165,421 shares of the company's stock, valued at $41,868,055.10. This represents a 10.59% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Henry L. Pujol sold 5,207 shares of the company's stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $329.47, for a total transaction of $1,715,550.29. Following the completion of the sale, the chief accounting officer directly owned 7,826 shares in the company, valued at $2,578,432.22. This trade represents a 39.95% decrease in their position. The disclosure for this sale can be found here. 6.95% of the stock is owned by company insiders.

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.

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