Royal Caribbean Cruises (NYSE:RCL) Now Covered by TD Cowen

Analysts at TD Cowen started coverage on shares of Royal Caribbean Cruises (NYSE:RCL - Get Free Report) in a note issued to investors on Tuesday, Marketbeat.com reports. The brokerage set a "buy" rating and a $405.00 price target on the stock. TD Cowen's price objective indicates a potential upside of 16.94% from the stock's current price.

Several other research firms also recently issued reports on RCL. Wall Street Zen downgraded Royal Caribbean Cruises from a "buy" rating to a "hold" rating in a research note on Saturday, June 28th. Jefferies Financial Group boosted their target price on Royal Caribbean Cruises from $235.00 to $315.00 and gave the stock a "hold" rating in a report on Monday, July 7th. Sanford C. Bernstein boosted their price target on Royal Caribbean Cruises from $290.00 to $360.00 and gave the company an "outperform" rating in a report on Wednesday, July 2nd. BNP Paribas initiated coverage on Royal Caribbean Cruises in a report on Thursday, March 27th. They issued an "outperform" rating and a $262.00 price target for the company. Finally, Macquarie lowered their price objective on Royal Caribbean Cruises from $300.00 to $265.00 and set an "outperform" rating for the company in a research note on Friday, May 9th. Five equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $305.57.

Royal Caribbean Cruises Price Performance

Shares of Royal Caribbean Cruises stock traded down $0.14 during trading hours on Tuesday, reaching $346.33. 367,473 shares of the company's stock were exchanged, compared to its average volume of 2,563,344. Royal Caribbean Cruises has a 1 year low of $130.08 and a 1 year high of $352.68. The company has a market capitalization of $94.05 billion, a P/E ratio of 28.75, a price-to-earnings-growth ratio of 1.04 and a beta of 2.17. The business has a fifty day moving average of $284.00 and a two-hundred day moving average of $246.31. The company has a quick ratio of 0.15, a current ratio of 0.18 and a debt-to-equity ratio of 2.21.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last announced its quarterly earnings data on Tuesday, April 29th. The company reported $2.71 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.53 by $0.18. Royal Caribbean Cruises had a net margin of 19.38% and a return on equity of 47.89%. The firm had revenue of $4 billion during the quarter, compared to analyst estimates of $4.02 billion. During the same quarter in the prior year, the firm posted $1.77 earnings per share. Royal Caribbean Cruises's quarterly revenue was up 7.3% on a year-over-year basis. As a group, research analysts predict that Royal Caribbean Cruises will post 14.9 earnings per share for the current fiscal year.

Insider Transactions at Royal Caribbean Cruises

In other news, Director Richard D. Fain sold 19,600 shares of Royal Caribbean Cruises stock in a transaction on Monday, May 19th. The stock was 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 directly owned 165,421 shares of the company's stock, valued at approximately $41,868,055.10. This trade represents a 10.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 6.95% of the company's stock.

Institutional Investors Weigh In On Royal Caribbean Cruises

Large investors have recently modified their holdings of the business. Opal Wealth Advisors LLC acquired a new position in shares of Royal Caribbean Cruises during the second quarter worth about $27,000. Oliver Lagore Vanvalin Investment Group acquired a new position in Royal Caribbean Cruises during the second quarter valued at approximately $31,000. Brown Brothers Harriman & Co. boosted its position in Royal Caribbean Cruises by 618.8% during the fourth quarter. Brown Brothers Harriman & Co. now owns 115 shares of the company's stock valued at $27,000 after purchasing an additional 99 shares during the last quarter. Financial Gravity Asset Management Inc. acquired a new position in Royal Caribbean Cruises during the first quarter valued at approximately $25,000. Finally, Hughes Financial Services LLC acquired a new position in Royal Caribbean Cruises during the first quarter valued at approximately $26,000. 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.

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