JPMorgan Chase & Co. Raises Royal Caribbean Cruises (NYSE:RCL) Price Target to $367.00

Key Points

• JPMorgan Chase & Co. raised the price target for Royal Caribbean Cruises (NYSE:RCL) from $302.00 to $367.00, indicating a potential upside of 10.5% from its current price.
• Royal Caribbean Cruises reported a 10.4% year-over-year revenue increase for the quarter, with earnings per share exceeding consensus estimates.
• Currently, 18 analysts have assigned a buy rating on the stock, reflecting a strong market consensus, while the average price target across analysts stands at $320.67.

Royal Caribbean Cruises (NYSE:RCL - Free Report) had its price target lifted by JPMorgan Chase & Co. from $302.00 to $367.00 in a research note published on Wednesday,Benzinga reports. The firm currently has an overweight rating on the stock.

RCL has been the subject of several other reports. Wall Street Zen lowered Royal Caribbean Cruises from a "buy" rating to a "hold" rating in a research report on Saturday, June 28th. Loop Capital restated a "buy" rating and set a $290.00 price target (up from $250.00) on shares of Royal Caribbean Cruises in a research note on Tuesday, June 3rd. Barclays upped their price target on Royal Caribbean Cruises from $263.00 to $358.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 9th. Melius Research upgraded Royal Caribbean Cruises to a "strong-buy" rating in a research note on Monday, April 21st. Finally, William Blair restated an "outperform" rating on shares of Royal Caribbean Cruises in a research note on Wednesday, July 23rd. Five investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Royal Caribbean Cruises currently has a consensus rating of "Moderate Buy" and a consensus target price of $321.10.

Royal Caribbean Cruises Trading Down 1.5%

Royal Caribbean Cruises stock traded down $4.85 during mid-day trading on Wednesday, hitting $313.02. The company's stock had a trading volume of 774,355 shares, compared to its average volume of 2,568,071. The firm has a market capitalization of $85.00 billion, a PE ratio of 23.41, a price-to-earnings-growth ratio of 0.93 and a beta of 2.17. Royal Caribbean Cruises has a 1 year low of $130.08 and a 1 year high of $355.91. The company has a current ratio of 0.23, a quick ratio of 0.15 and a debt-to-equity ratio of 1.88. The stock's fifty day moving average is $301.16 and its two-hundred day moving average is $253.21.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The company reported $4.38 earnings per share for the quarter, topping the consensus estimate of $4.04 by $0.34. The company had revenue of $4.54 billion during the quarter, compared to analyst estimates of $4.54 billion. Royal Caribbean Cruises had a return on equity of 47.15% and a net margin of 20.97%. The firm's revenue for the quarter was up 10.4% compared to the same quarter last year. During the same period in the prior year, the business posted $3.21 earnings per share. On average, analysts anticipate that Royal Caribbean Cruises will post 14.9 EPS for the current year.

Royal Caribbean Cruises Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 3rd. Shareholders of record on Wednesday, June 4th were paid a $0.75 dividend. This represents a $3.00 dividend on an annualized basis and a yield of 1.0%. Royal Caribbean Cruises's dividend payout ratio is presently 22.49%.

Insiders Place Their Bets

In other Royal Caribbean Cruises news, Director Richard D. Fain sold 19,600 shares of the firm's 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 sale, the director directly owned 165,421 shares in the company, valued at $41,868,055.10. This trade represents a 10.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 6.95% of the stock is currently owned by corporate insiders.

Institutional Trading of Royal Caribbean Cruises

Hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC raised its stake 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 buying an additional 353,893 shares in the last quarter. Revisor Wealth Management LLC acquired a new stake in Royal Caribbean Cruises in the first quarter valued at $1,525,000. Groupama Asset Managment acquired a new stake in shares of Royal Caribbean Cruises during the fourth quarter worth about $1,122,000. Brown Miller Wealth Management LLC acquired a new stake in shares of Royal Caribbean Cruises during the first quarter worth about $266,000. Finally, Florida Financial Advisors LLC increased its position in shares of Royal Caribbean Cruises by 87.6% during the first quarter. Florida Financial Advisors LLC now owns 1,957 shares of the company's stock worth $402,000 after purchasing an additional 914 shares in the last quarter. 87.53% of the stock is currently owned by institutional investors and hedge funds.

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.