Royal Caribbean Cruises Ltd. $RCL Stock Position Lifted by E Fund Management Co. Ltd.

Key Points

• E Fund Management Co. Ltd. increased its position in Royal Caribbean Cruises by 19.4%, acquiring 1,700 additional shares, bringing its total to 10,460 shares valued at approximately $2.15 million.
• Royal Caribbean Cruises reported earnings of $4.38 per share for the last quarter, surpassing analyst expectations of $4.04, with revenue remaining stable at $4.54 billion.
• Analysts have set a consensus price target of $323.10 for Royal Caribbean stock, with several firms providing 'buy' ratings and higher price targets, indicating bullish sentiment.

E Fund Management Co. Ltd. grew its holdings in Royal Caribbean Cruises Ltd. (NYSE:RCL - Free Report) by 19.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 10,460 shares of the company's stock after acquiring an additional 1,700 shares during the period. E Fund Management Co. Ltd.'s holdings in Royal Caribbean Cruises were worth $2,149,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Revisor Wealth Management LLC acquired a new position in Royal Caribbean Cruises during the 1st quarter worth $1,525,000. Brown Miller Wealth Management LLC acquired a new position in Royal Caribbean Cruises during the 1st quarter worth $266,000. Florida Financial Advisors LLC grew its holdings in Royal Caribbean Cruises by 87.6% during the 1st quarter. Florida Financial Advisors LLC now owns 1,957 shares of the company's stock worth $402,000 after acquiring an additional 914 shares in the last quarter. Vanguard Group Inc. grew its holdings in Royal Caribbean Cruises by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 28,674,763 shares of the company's stock worth $5,890,943,000 after acquiring an additional 602,447 shares in the last quarter. Finally, Western Financial Corp CA grew its holdings in Royal Caribbean Cruises by 25.0% during the 1st quarter. Western Financial Corp CA now owns 8,615 shares of the company's stock worth $1,770,000 after acquiring an additional 1,725 shares in the last quarter. Hedge funds and other institutional investors own 87.53% of the company's stock.

Insider Buying and Selling

In other news, Director Richard D. Fain sold 16,000 shares of the business's stock in a transaction that occurred on Wednesday, August 6th. The shares were sold at an average price of $311.02, for a total transaction of $4,976,320.00. Following the sale, the director owned 150,291 shares in the company, valued at $46,743,506.82. The trade was a 9.62% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Henry L. Pujol sold 5,207 shares of the business's stock in a transaction that occurred on 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 sale, the chief accounting officer owned 7,826 shares in the company, valued at $2,578,432.22. This 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 insiders.

Royal Caribbean Cruises Price Performance

Shares of RCL stock traded up $13.21 during midday trading on Monday, reaching $327.16. 3,282,810 shares of the company were exchanged, compared to its average volume of 2,528,767. 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's 50 day moving average price is $312.76 and its two-hundred day moving average price is $258.48. Royal Caribbean Cruises Ltd. has a 12 month low of $154.08 and a 12 month high of $355.91. The company has a market cap of $88.87 billion, a P/E ratio of 24.52, a PEG ratio of 0.88 and a beta of 2.22.

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 analysts' consensus estimates 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 business had revenue of $4.54 billion for the quarter, compared to the consensus estimate of $4.54 billion. During the same period in the previous year, the firm earned $3.21 EPS. The business's revenue for the quarter was up 10.4% on a year-over-year basis. On average, sell-side analysts expect that Royal Caribbean Cruises Ltd. will post 14.9 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on RCL. Melius Research raised shares of Royal Caribbean Cruises to a "strong-buy" rating in a report on Monday, April 21st. Jefferies Financial Group raised their price objective on shares of Royal Caribbean Cruises from $235.00 to $315.00 and gave the stock a "hold" rating in a report on Monday, July 7th. Bank of America lifted their price target on shares of Royal Caribbean Cruises from $230.00 to $355.00 and gave the company a "neutral" rating in a report on Wednesday, July 23rd. Sanford C. Bernstein lifted their price target on shares of Royal Caribbean Cruises from $290.00 to $360.00 and gave the company an "outperform" rating in a report on Wednesday, July 2nd. Finally, Wall Street Zen lowered shares of Royal Caribbean Cruises from a "buy" rating to a "hold" rating in a report on Saturday, June 28th. Five research 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 company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $323.10.

Royal Caribbean Cruises 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.