Royal Caribbean Cruises (NYSE:RCL) Reaches New 1-Year High After Analyst Upgrade

Royal Caribbean Cruises Ltd. (NYSE:RCL - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Monday after Wells Fargo & Company raised their price target on the stock from $153.00 to $159.00. Wells Fargo & Company currently has an overweight rating on the stock. Royal Caribbean Cruises traded as high as $143.38 and last traded at $139.36, with a volume of 339169 shares trading hands. The stock had previously closed at $140.59.

A number of other brokerages have also weighed in on RCL. Morgan Stanley upped their price objective on Royal Caribbean Cruises from $100.00 to $115.00 and gave the stock an "equal weight" rating in a report on Wednesday, February 7th. Barclays upped their price target on shares of Royal Caribbean Cruises from $154.00 to $165.00 and gave the stock an "overweight" rating in a research note on Friday. Stifel Nicolaus raised their price objective on shares of Royal Caribbean Cruises from $170.00 to $174.00 and gave the company a "buy" rating in a research note on Thursday, February 22nd. The Goldman Sachs Group restated a "buy" rating on shares of Royal Caribbean Cruises in a research report on Monday, April 1st. Finally, Macquarie increased their target price on shares of Royal Caribbean Cruises from $145.00 to $160.00 and gave the company an "outperform" rating in a report on Friday, March 15th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $138.76.

Insider Activity at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, CEO Jason T. Liberty sold 50,000 shares of the firm's stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $139.63, for a total value of $6,981,500.00. Following the sale, the chief executive officer now directly owns 153,017 shares of the company's stock, valued at approximately $21,365,763.71. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, CEO Michael W. Bayley sold 11,753 shares of Royal Caribbean Cruises stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $116.01, for a total value of $1,363,465.53. Following the transaction, the chief executive officer now directly owns 166,537 shares of the company's stock, valued at approximately $19,319,957.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jason T. Liberty sold 50,000 shares of the stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $139.63, for a total transaction of $6,981,500.00. Following the sale, the chief executive officer now directly owns 153,017 shares of the company's stock, valued at approximately $21,365,763.71. The disclosure for this sale can be found here. Insiders own 8.70% of the company's stock.

Institutional Investors Weigh In On Royal Caribbean Cruises

Several large investors have recently made changes to their positions in RCL. Mn Services Vermogensbeheer B.V. acquired a new stake in shares of Royal Caribbean Cruises in the first quarter valued at about $13,692,000. China Universal Asset Management Co. Ltd. grew its position in Royal Caribbean Cruises by 144.6% in the first quarter. China Universal Asset Management Co. Ltd. now owns 15,991 shares of the company's stock valued at $2,223,000 after acquiring an additional 9,453 shares in the last quarter. Pinnacle Associates Ltd. raised its stake in shares of Royal Caribbean Cruises by 0.9% during the first quarter. Pinnacle Associates Ltd. now owns 356,265 shares of the company's stock valued at $49,524,000 after purchasing an additional 3,090 shares during the period. Highview Capital Management LLC DE purchased a new stake in shares of Royal Caribbean Cruises during the first quarter valued at approximately $1,541,000. Finally, Renaissance Group LLC acquired a new position in shares of Royal Caribbean Cruises during the first quarter worth $37,212,000. Institutional investors and hedge funds own 87.53% of the company's stock.

Royal Caribbean Cruises Stock Up 2.0 %

The firm's 50 day moving average price is $130.20 and its two-hundred day moving average price is $117.87. The firm has a market capitalization of $36.89 billion, a PE ratio of 18.47, a P/E/G ratio of 0.47 and a beta of 2.52. The company has a quick ratio of 0.16, a current ratio of 0.19 and a debt-to-equity ratio of 3.54.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last posted its quarterly earnings data on Thursday, April 25th. The company reported $1.77 earnings per share for the quarter, beating analysts' consensus estimates of $1.33 by $0.44. Royal Caribbean Cruises had a net margin of 14.28% and a return on equity of 51.54%. The company had revenue of $3.73 billion during the quarter, compared to analysts' expectations of $3.69 billion. During the same period in the prior year, the company posted ($0.23) EPS. The firm's revenue for the quarter was up 29.2% on a year-over-year basis. As a group, research analysts forecast that Royal Caribbean Cruises Ltd. will post 10.8 EPS for the current fiscal year.

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.