Royal Caribbean Cruises (NYSE:RCL) Coverage Initiated at Mizuho

Mizuho assumed coverage on shares of Royal Caribbean Cruises (NYSE:RCL - Free Report) in a research report released on Wednesday morning, Marketbeat reports. The brokerage issued a buy rating and a $164.00 target price on the stock.

RCL has been the subject of a number of other reports. Barclays upped their target price on shares of Royal Caribbean Cruises from $150.00 to $154.00 and gave the stock an overweight rating in a research note on Thursday, April 11th. Macquarie increased their price objective on shares of Royal Caribbean Cruises from $145.00 to $160.00 and gave the stock an outperform rating in a research note on Friday, March 15th. Tigress Financial upped their target price on shares of Royal Caribbean Cruises from $139.00 to $155.00 and gave the company a buy rating in a report on Thursday, December 21st. UBS Group upped their target price on shares of Royal Caribbean Cruises from $148.00 to $154.00 and gave the company a buy rating in a report on Friday, February 16th. Finally, Argus upped their target price on shares of Royal Caribbean Cruises from $95.00 to $142.00 and gave the company a buy rating in a report on Thursday, December 21st. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $136.94.

Royal Caribbean Cruises Stock Performance

Shares of Royal Caribbean Cruises stock traded up $1.37 during trading on Wednesday, reaching $127.97. The company's stock had a trading volume of 2,295,524 shares, compared to its average volume of 2,746,736. The firm has a market cap of $32.85 billion, a price-to-earnings ratio of 20.51, a price-to-earnings-growth ratio of 0.46 and a beta of 2.52. The company has a debt-to-equity ratio of 4.03, a quick ratio of 0.16 and a current ratio of 0.19. Royal Caribbean Cruises has a one year low of $59.37 and a one year high of $141.70. The business's fifty day moving average price is $127.66 and its 200-day moving average price is $115.37.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last posted its quarterly earnings data on Thursday, February 1st. The company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.12. The firm had revenue of $3.33 billion during the quarter, compared to analysts' expectations of $3.36 billion. Royal Caribbean Cruises had a net margin of 12.22% and a return on equity of 45.55%. Royal Caribbean Cruises's revenue was up 28.0% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.12) EPS. As a group, equities research analysts predict that Royal Caribbean Cruises will post 10.01 earnings per share for the current year.

Insider Buying and Selling at Royal Caribbean Cruises

In other news, CEO Michael W. Bayley sold 11,753 shares of Royal Caribbean Cruises stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $116.01, for a total value of $1,363,465.53. Following the completion of the sale, the chief executive officer now directly owns 166,537 shares in the company, valued at $19,319,957.37. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 8.70% of the company's stock.

Hedge Funds Weigh In On Royal Caribbean Cruises

Institutional investors have recently made changes to their positions in the stock. Dagco Inc. acquired a new stake in shares of Royal Caribbean Cruises in the 4th quarter worth about $25,000. BKM Wealth Management LLC bought a new position in shares of Royal Caribbean Cruises during the 4th quarter valued at approximately $26,000. Scarborough Advisors LLC bought a new position in shares of Royal Caribbean Cruises during the 4th quarter valued at approximately $26,000. Creekmur Asset Management LLC purchased a new stake in shares of Royal Caribbean Cruises during the 4th quarter valued at approximately $30,000. Finally, Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Royal Caribbean Cruises during the 4th quarter valued at approximately $33,000. Institutional investors and hedge funds 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.