Northcoast Research Initiates Coverage on Royal Caribbean Cruises (NYSE:RCL)

Research analysts at Northcoast Research started coverage on shares of Royal Caribbean Cruises (NYSE:RCL - Get Free Report) in a research note issued to investors on Friday, Marketbeat.com reports. The brokerage set a "buy" rating and a $279.00 price target on the stock. Northcoast Research's price target suggests a potential upside of 31.63% from the company's previous close.

Other equities research analysts also recently issued reports about the company. Macquarie boosted their price target on Royal Caribbean Cruises from $250.00 to $300.00 and gave the company an "outperform" rating in a research note on Thursday, January 30th. The Goldman Sachs Group lowered their price objective on Royal Caribbean Cruises from $305.00 to $245.00 and set a "buy" rating on the stock in a research report on Wednesday, April 23rd. Wells Fargo & Company boosted their price target on Royal Caribbean Cruises from $232.00 to $272.00 and gave the stock an "overweight" rating in a report on Monday, January 27th. Stifel Nicolaus cut their target price on shares of Royal Caribbean Cruises from $310.00 to $265.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Finally, Susquehanna reaffirmed a "positive" rating on shares of Royal Caribbean Cruises in a research note on Tuesday, March 25th. Four investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $271.85.

Royal Caribbean Cruises Stock Performance

NYSE RCL traded down $4.63 during trading hours on Friday, hitting $211.95. The company's stock had a trading volume of 1,508,353 shares, compared to its average volume of 2,308,649. Royal Caribbean Cruises has a 12 month low of $130.08 and a 12 month high of $277.08. The company's 50 day simple moving average is $210.39 and its two-hundred day simple moving average is $226.91. The company has a market cap of $57.55 billion, a P/E ratio of 19.83, a price-to-earnings-growth ratio of 0.90 and a beta of 2.26. The company has a debt-to-equity ratio of 2.39, a current ratio of 0.17 and a quick ratio of 0.15.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last released its quarterly earnings data on Tuesday, April 29th. The company reported $2.71 EPS for the quarter, topping the consensus estimate 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 company had revenue of $4 billion during the quarter, compared to the consensus estimate of $4.02 billion. During the same period last year, the company earned $1.77 EPS. Royal Caribbean Cruises's revenue for the quarter was up 7.3% on a year-over-year basis. As a group, sell-side analysts expect that Royal Caribbean Cruises will post 14.9 EPS for the current fiscal year.

Royal Caribbean Cruises declared that its board has approved a share repurchase program on Wednesday, February 12th that permits the company to buyback $1.00 billion in shares. This buyback authorization permits the company to purchase up to 1.5% of its shares through open market purchases. Shares buyback programs are often an indication that the company's management believes its shares are undervalued.

Insider Buying and Selling

In related news, insider Laura H. Bethge sold 14,992 shares of Royal Caribbean Cruises stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $261.86, for a total transaction of $3,925,805.12. Following the completion of the transaction, the insider now directly owns 21,155 shares of the company's stock, valued at approximately $5,539,648.30. The trade was a 41.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jason T. Liberty sold 58,000 shares of Royal Caribbean Cruises stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $261.95, for a total transaction of $15,193,100.00. Following the transaction, the chief executive officer now directly owns 143,214 shares of the company's stock, valued at approximately $37,514,907.30. This represents a 28.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 109,492 shares of company stock valued at $28,571,705. Company insiders own 7.95% of the company's stock.

Institutional Investors Weigh In On Royal Caribbean Cruises

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dorsey & Whitney Trust CO LLC lifted its holdings in Royal Caribbean Cruises by 2.0% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 2,036 shares of the company's stock valued at $470,000 after buying an additional 39 shares in the last quarter. Ostrum Asset Management lifted its holdings in Royal Caribbean Cruises by 0.3% during the 4th quarter. Ostrum Asset Management now owns 11,610 shares of the company's stock valued at $2,678,000 after buying an additional 40 shares in the last quarter. Farther Finance Advisors LLC lifted 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 buying an additional 42 shares in the last quarter. Hemington Wealth Management lifted 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 buying an additional 44 shares in the last quarter. Finally, Verdence Capital Advisors LLC lifted its holdings in Royal Caribbean Cruises by 3.6% during the 4th quarter. Verdence Capital Advisors LLC now owns 1,358 shares of the company's stock valued at $313,000 after buying an additional 47 shares in the last quarter. Institutional investors own 87.53% of the company's stock.

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.