Royal Caribbean Cruises (NYSE:RCL) Downgraded to "Hold" Rating by Wall Street Zen

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a report issued on Saturday.

A number of other analysts also recently issued reports on RCL. UBS Group set a $311.00 price target on shares of Royal Caribbean Cruises and gave the stock a "buy" rating in a report on Tuesday, May 20th. Macquarie decreased their target price on shares of Royal Caribbean Cruises from $300.00 to $265.00 and set an "outperform" rating on the stock in a research report on Friday, May 9th. Melius Research raised Royal Caribbean Cruises to a "strong-buy" rating in a research report on Monday, April 21st. Truist Financial lifted their price objective on Royal Caribbean Cruises from $272.00 to $275.00 and gave the company a "buy" rating in a research note on Monday, May 19th. Finally, Barclays increased their target price on Royal Caribbean Cruises from $249.00 to $263.00 and gave the stock an "overweight" rating in a research note on Wednesday, April 30th. Four equities research 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 stock. According to MarketBeat.com, Royal Caribbean Cruises currently has an average rating of "Moderate Buy" and a consensus target price of $276.90.

Royal Caribbean Cruises Trading Up 5.0%

Shares of RCL stock opened at $310.69 on Friday. Royal Caribbean Cruises has a fifty-two week low of $130.08 and a fifty-two week high of $310.88. The firm has a market capitalization of $84.37 billion, a P/E ratio of 25.80, a PEG ratio of 0.88 and a beta of 2.14. The stock's fifty day moving average is $249.05 and its two-hundred day moving average is $236.11. The company has a debt-to-equity ratio of 2.21, a quick ratio of 0.15 and a current ratio of 0.18.

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, beating analysts' consensus estimates of $2.53 by $0.18. The company had revenue of $4 billion during the quarter, compared to the consensus estimate of $4.02 billion. Royal Caribbean Cruises had a net margin of 19.38% and a return on equity of 47.89%. Royal Caribbean Cruises's quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.77 EPS. Research analysts expect that Royal Caribbean Cruises will post 14.9 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Richard D. Fain sold 19,600 shares of the stock in a transaction on Monday, May 19th. The shares were sold at an average price of $253.10, for a total value of $4,960,760.00. Following the completion of the sale, the director now owns 165,421 shares of the company's stock, valued at $41,868,055.10. This represents a 10.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.95% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Royal Caribbean Cruises

Several institutional investors and hedge funds have recently modified their holdings of RCL. Capital International Investors boosted its position in Royal Caribbean Cruises by 0.9% in the 4th quarter. Capital International Investors now owns 29,712,610 shares of the company's stock valued at $6,854,905,000 after buying an additional 278,860 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Royal Caribbean Cruises by 2.1% in the first quarter. Vanguard Group Inc. now owns 28,674,763 shares of the company's stock worth $5,890,943,000 after buying an additional 602,447 shares during the last quarter. Geode Capital Management LLC raised its holdings in Royal Caribbean Cruises by 6.3% in the fourth quarter. Geode Capital Management LLC now owns 5,969,532 shares of the company's stock valued at $1,373,856,000 after acquiring an additional 353,893 shares in the last quarter. Norges Bank bought a new position in Royal Caribbean Cruises during the 4th quarter valued at $707,833,000. Finally, Bank of New York Mellon Corp boosted its stake in Royal Caribbean Cruises by 21.8% during the 1st quarter. Bank of New York Mellon Corp now owns 2,991,079 shares of the company's stock valued at $614,487,000 after acquiring an additional 535,043 shares during the last quarter. Hedge funds and other 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.

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