Royal Caribbean Cruises (NYSE:RCL) Price Target Raised to $165.00 at Wells Fargo & Company

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) had its price objective raised by investment analysts at Wells Fargo & Company from $159.00 to $165.00 in a report released on Friday, Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Wells Fargo & Company's price objective points to a potential upside of 16.26% from the stock's previous close.

Several other analysts have also recently weighed in on the stock. Morgan Stanley boosted their price objective on shares of Royal Caribbean Cruises from $100.00 to $115.00 and gave the stock an "equal weight" rating in a research note on Wednesday, February 7th. Stifel Nicolaus boosted their target price on Royal Caribbean Cruises from $170.00 to $174.00 and gave the stock a "buy" rating in a research note on Thursday, February 22nd. Mizuho raised their target price on Royal Caribbean Cruises from $164.00 to $168.00 and gave the company a "buy" rating in a research report on Friday, April 26th. Susquehanna boosted their target price on shares of Royal Caribbean Cruises from $150.00 to $160.00 and gave the company a "positive" rating in a research note on Friday, April 26th. Finally, Macquarie raised their target price on Royal Caribbean Cruises from $145.00 to $160.00 and gave the stock an "outperform" rating in a research report on Friday, March 15th. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $147.38.

Royal Caribbean Cruises Stock Down 0.7 %

Shares of NYSE:RCL traded down $0.94 during midday trading on Friday, reaching $141.92. The company had a trading volume of 1,284,460 shares, compared to its average volume of 2,709,957. The stock has a market cap of $36.52 billion, a PE ratio of 18.32, a P/E/G ratio of 0.42 and a beta of 2.49. Royal Caribbean Cruises has a 1-year low of $76.31 and a 1-year high of $144.34. The business's 50 day moving average price is $135.49 and its 200 day moving average price is $122.94. 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 released its quarterly earnings data on Thursday, April 25th. The company reported $1.77 EPS for the quarter, topping 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 firm had revenue of $3.73 billion during the quarter, compared to analysts' expectations of $3.69 billion. During the same period in the previous year, the business posted ($0.23) earnings per share. The company's revenue for the quarter was up 29.2% compared to the same quarter last year. Research analysts forecast that Royal Caribbean Cruises will post 11.09 EPS for the current fiscal year.

Insider Activity

In other Royal Caribbean Cruises news, CEO Jason T. Liberty sold 50,000 shares of the company's stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $139.63, for a total transaction of $6,981,500.00. Following the completion of the sale, the chief executive officer now directly owns 153,017 shares in the company, valued at $21,365,763.71. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Jason T. Liberty sold 50,000 shares of the stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $139.63, for a total value of $6,981,500.00. Following the completion of the transaction, the chief executive officer now directly owns 153,017 shares of the company's stock, valued at $21,365,763.71. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Henry L. Pujol sold 9,944 shares of the company's stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $141.23, for a total value of $1,404,391.12. Following the completion of the sale, the chief accounting officer now directly owns 16,687 shares in the company, valued at $2,356,705.01. The disclosure for this sale can be found here. In the last quarter, insiders have sold 84,145 shares of company stock worth $11,779,113. 7.95% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Royal Caribbean Cruises

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Capital International Investors lifted its position in shares of Royal Caribbean Cruises by 1.0% during the 1st quarter. Capital International Investors now owns 29,596,455 shares of the company's stock valued at $4,114,203,000 after buying an additional 286,868 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Royal Caribbean Cruises by 0.5% in the first quarter. Vanguard Group Inc. now owns 25,409,272 shares of the company's stock worth $3,532,143,000 after purchasing an additional 132,079 shares during the last quarter. Norges Bank bought a new stake in shares of Royal Caribbean Cruises during the fourth quarter valued at approximately $323,251,000. Northern Trust Corp grew its stake in Royal Caribbean Cruises by 6.8% in the third quarter. Northern Trust Corp now owns 2,335,667 shares of the company's stock worth $215,208,000 after purchasing an additional 148,532 shares in the last quarter. Finally, Swiss National Bank increased its holdings in Royal Caribbean Cruises by 2.8% during the 4th quarter. Swiss National Bank now owns 760,938 shares of the company's stock worth $98,534,000 after purchasing an additional 20,600 shares during the period. 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.