Royal Caribbean Cruises (NYSE:RCL) Shares Down 2.2%

Royal Caribbean Cruises Ltd. (NYSE:RCL - Get Free Report) dropped 2.2% during trading on Tuesday . The stock traded as low as $135.04 and last traded at $135.23. Approximately 262,040 shares changed hands during mid-day trading, a decline of 90% from the average daily volume of 2,664,408 shares. The stock had previously closed at $138.29.

Wall Street Analysts Forecast Growth

RCL has been the subject of several recent analyst reports. Susquehanna raised their price objective on shares of Royal Caribbean Cruises from $120.00 to $150.00 and gave the company a "positive" rating in a research note on Wednesday, January 31st. 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. Morgan Stanley lifted their target price on shares of Royal Caribbean Cruises from $100.00 to $115.00 and gave the stock an "equal weight" rating in a research report on Wednesday, February 7th. Macquarie lifted their target price on shares of Royal Caribbean Cruises from $145.00 to $160.00 and gave the stock an "outperform" rating in a research report on Friday, March 15th. Finally, The Goldman Sachs Group restated a "buy" rating on shares of Royal Caribbean Cruises in a research report on Monday, April 1st. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $134.56.

Royal Caribbean Cruises Stock Down 3.7 %

The stock has a market cap of $34.18 billion, a P/E ratio of 21.41, a PEG ratio of 0.49 and a beta of 2.52. The stock's fifty day simple moving average is $127.13 and its 200-day simple moving average is $114.06. The company has a debt-to-equity ratio of 4.03, a current ratio of 0.19 and a quick ratio of 0.16.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last released its quarterly earnings data on Thursday, February 1st. The company reported $1.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.13 by $0.12. Royal Caribbean Cruises had a return on equity of 45.55% and a net margin of 12.22%. The business had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.36 billion. During the same quarter in the previous year, the firm posted ($1.12) EPS. The business's revenue for the quarter was up 28.0% compared to the same quarter last year. On average, research analysts anticipate that Royal Caribbean Cruises Ltd. will post 10.08 earnings per share for the current year.

Insider Buying and Selling

In other Royal Caribbean Cruises news, CEO Michael W. Bayley sold 11,753 shares of the business's stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $116.01, for a total transaction of $1,363,465.53. Following the completion of 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 8.70% of the company's stock.

Institutional Investors Weigh In On Royal Caribbean Cruises

A number of hedge funds and other institutional investors have recently modified their holdings of RCL. Capital International Investors increased its stake in Royal Caribbean Cruises by 1.2% during the 4th quarter. Capital International Investors now owns 29,309,587 shares of the company's stock valued at $3,795,368,000 after buying an additional 351,747 shares during the period. Vanguard Group Inc. increased its stake in shares of Royal Caribbean Cruises by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 25,277,193 shares of the company's stock valued at $3,273,144,000 after acquiring an additional 359,770 shares during the period. Geode Capital Management LLC increased its stake in shares of Royal Caribbean Cruises by 2.4% during the first quarter. Geode Capital Management LLC now owns 4,521,734 shares of the company's stock valued at $294,589,000 after acquiring an additional 105,705 shares during the period. Capital World Investors raised its holdings in Royal Caribbean Cruises by 1,314.9% during the first quarter. Capital World Investors now owns 2,759,035 shares of the company's stock worth $231,152,000 after purchasing an additional 2,564,035 shares in the last quarter. Finally, Norges Bank acquired a new stake in Royal Caribbean Cruises in the fourth quarter worth approximately $323,251,000. 87.53% of the stock is currently owned by institutional investors.

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.