Royal Caribbean Cruises' (RCL) "Hold" Rating Reaffirmed at Truist Financial

Royal Caribbean Cruises (NYSE:RCL - Get Free Report)'s stock had its "hold" rating reaffirmed by equities research analysts at Truist Financial in a research report issued on Monday, Marketbeat reports. They presently have a $337.00 target price on the stock, up from their prior target price of $275.00. Truist Financial's price objective points to a potential downside of 3.84% from the stock's previous close.

Several other equities analysts have also recently commented on the stock. Jefferies Financial Group raised their price target on shares of Royal Caribbean Cruises from $235.00 to $315.00 and gave the company a "hold" rating in a research report on Monday, July 7th. The Goldman Sachs Group cut their target price on shares of Royal Caribbean Cruises from $305.00 to $245.00 and set a "buy" rating on the stock in a research note on Wednesday, April 23rd. BNP Paribas began coverage on shares of Royal Caribbean Cruises in a research note on Thursday, March 27th. They set an "outperform" rating and a $262.00 target price on the stock. Stifel Nicolaus upped their target price on shares of Royal Caribbean Cruises from $310.00 to $400.00 and gave the stock a "buy" rating in a research note on Wednesday, July 9th. Finally, Barclays increased their price target on shares of Royal Caribbean Cruises from $263.00 to $358.00 and gave the company an "overweight" rating in a research note on Wednesday, July 9th. Five research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $300.60.

Royal Caribbean Cruises Trading Up 0.6%

Shares of RCL stock opened at $350.45 on Monday. The stock has a market cap of $95.17 billion, a price-to-earnings ratio of 29.11, a PEG ratio of 1.04 and a beta of 2.17. Royal Caribbean Cruises has a twelve month low of $130.08 and a twelve month high of $354.00. The company's 50-day moving average price is $284.00 and its 200-day moving average price is $246.31. The company has a current ratio of 0.18, a quick ratio of 0.15 and a debt-to-equity ratio of 2.21.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported $2.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.18. The firm had revenue of $4 billion for the quarter, compared to analyst estimates 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 revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the firm earned $1.77 EPS. As a group, equities analysts predict that Royal Caribbean Cruises will post 14.9 earnings per share for the current year.

Insider Activity

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 transaction of $4,960,760.00. Following the completion of the transaction, the director owned 165,421 shares of the company's stock, valued at $41,868,055.10. The trade was a 10.59% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 6.95% of the stock is owned by company insiders.

Hedge Funds Weigh In On Royal Caribbean Cruises

Hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC raised its stake in Royal Caribbean Cruises by 6.3% in the 4th quarter. Geode Capital Management LLC now owns 5,969,532 shares of the company's stock valued at $1,373,856,000 after purchasing an additional 353,893 shares during the last quarter. Revisor Wealth Management LLC purchased a new stake in Royal Caribbean Cruises in the 1st quarter valued at about $1,525,000. Dorsey Wright & Associates purchased a new stake in Royal Caribbean Cruises in the 4th quarter valued at about $4,221,000. Groupama Asset Managment purchased a new stake in Royal Caribbean Cruises in the 4th quarter valued at about $1,122,000. Finally, Brown Miller Wealth Management LLC purchased a new stake in Royal Caribbean Cruises in the 1st quarter valued at about $266,000. 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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