Royal Caribbean Cruises (NYSE:RCL) Price Target Raised to $315.00

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) had its target price raised by Jefferies Financial Group from $235.00 to $315.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has a "hold" rating on the stock. Jefferies Financial Group's target price suggests a potential downside of 4.12% from the company's current price.

Other equities research analysts have also recently issued reports about the stock. Melius Research upgraded shares of Royal Caribbean Cruises to a "strong-buy" rating in a report on Monday, April 21st. Macquarie reduced their price target on shares of Royal Caribbean Cruises from $300.00 to $265.00 and set an "outperform" rating for the company in a report on Friday, May 9th. UBS Group set a $311.00 price target on shares of Royal Caribbean Cruises and gave the stock a "buy" rating in a report on Tuesday, May 20th. Stifel Nicolaus raised their price objective on shares of Royal Caribbean Cruises from $275.00 to $310.00 and gave the company a "buy" rating in a research note on Wednesday, June 4th. Finally, Susquehanna dropped their price objective on shares of Royal Caribbean Cruises from $295.00 to $275.00 and set a "positive" rating on the stock in a research note on Wednesday, April 30th. Four analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $284.65.

Royal Caribbean Cruises Trading Down 1.8%

Shares of RCL traded down $5.93 during trading hours on Monday, hitting $328.55. 3,425,453 shares of the stock were exchanged, compared to its average volume of 2,362,615. Royal Caribbean Cruises has a fifty-two week low of $130.08 and a fifty-two week high of $336.44. The company has a debt-to-equity ratio of 2.21, a current ratio of 0.18 and a quick ratio of 0.15. The business has a 50-day moving average of $261.08 and a 200-day moving average of $239.01. The firm has a market capitalization of $89.22 billion, a P/E ratio of 27.29, a price-to-earnings-growth ratio of 0.99 and a beta of 2.17.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported $2.71 earnings per share for the quarter, topping the consensus estimate of $2.53 by $0.18. The company had revenue of $4 billion during the quarter, compared to analysts' expectations of $4.02 billion. Royal Caribbean Cruises had a net margin of 19.38% and a return on equity of 47.89%. Royal Caribbean Cruises's revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.77 earnings per share. On average, research analysts expect that Royal Caribbean Cruises will post 14.9 EPS for the current year.

Insider Buying and Selling

In other Royal Caribbean Cruises news, Director Richard D. Fain sold 19,600 shares of Royal Caribbean Cruises 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 approximately $41,868,055.10. The trade was a 10.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 6.95% of the company's stock.

Hedge Funds Weigh In On Royal Caribbean Cruises

Several large investors have recently modified their holdings of the business. Abner Herrman & Brock LLC purchased a new position in shares of Royal Caribbean Cruises in the second quarter worth about $8,268,000. Douglas Lane & Associates LLC purchased a new position in Royal Caribbean Cruises during the second quarter valued at approximately $219,000. TruWealth Advisors LLC purchased a new position in Royal Caribbean Cruises during the second quarter valued at approximately $262,000. HBW Advisory Services LLC purchased a new position in Royal Caribbean Cruises during the second quarter valued at approximately $207,000. Finally, First Financial Bank Trust Division grew its stake in Royal Caribbean Cruises by 0.7% during the second quarter. First Financial Bank Trust Division now owns 13,896 shares of the company's stock valued at $4,351,000 after acquiring an additional 94 shares in the last quarter. Hedge funds and other 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.