Stifel Nicolaus Raises Royal Caribbean Cruises (NYSE:RCL) Price Target to $420.00

Key Points

• Stifel Nicolaus raised its price target for Royal Caribbean Cruises (NYSE:RCL) from $400 to $420, indicating a potential upside of 25.38% from the current price.
• Multiple analysts have recently adjusted their ratings on RCL stock, with Barclays setting a new target of $358 and Citigroup raising its target to $390.
• Royal Caribbean reported better-than-expected earnings with a net margin of 19.38% and a year-over-year revenue increase of 10.4%, reaching $4.54 billion for the latest quarter.

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) had its target price increased by Stifel Nicolaus from $400.00 to $420.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Stifel Nicolaus' price target indicates a potential upside of 33.71% from the company's current price.

Several other analysts have also issued reports on the stock. Macquarie reduced their price objective on shares of Royal Caribbean Cruises from $300.00 to $265.00 and set an "outperform" rating on the stock in a report on Friday, May 9th. The Goldman Sachs Group dropped their price target on shares of Royal Caribbean Cruises from $305.00 to $245.00 and set a "buy" rating for the company in a research report on Wednesday, April 23rd. TD Cowen began coverage on shares of Royal Caribbean Cruises in a report on Tuesday, July 22nd. They issued a "buy" rating and a $405.00 price objective on the stock. Citigroup reaffirmed a "buy" rating and set a $390.00 price objective (up previously from $318.00) on shares of Royal Caribbean Cruises in a research report on Wednesday, July 16th. Finally, Truist Financial reiterated a "hold" rating and issued a $337.00 target price (up previously from $275.00) on shares of Royal Caribbean Cruises in a report on Monday, July 21st. Five equities research 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 stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $321.10.

Royal Caribbean Cruises Trading Down 1.2%

Shares of NYSE RCL traded down $3.75 during midday trading on Wednesday, reaching $314.12. 2,827,375 shares of the stock were exchanged, compared to its average volume of 2,165,557. The company has a 50 day simple moving average of $302.63 and a 200 day simple moving average of $253.80. The stock has a market capitalization of $85.32 billion, a P/E ratio of 23.55, a PEG ratio of 0.89 and a beta of 2.22. The company has a debt-to-equity ratio of 1.88, a quick ratio of 0.15 and a current ratio of 0.23. Royal Caribbean Cruises has a twelve month low of $130.08 and a twelve month high of $355.91.

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

Insiders Place Their Bets

In other Royal Caribbean Cruises news, CAO Henry L. Pujol sold 5,207 shares of the firm's stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $329.47, for a total value of $1,715,550.29. Following the sale, the chief accounting officer directly owned 7,826 shares in the company, valued at $2,578,432.22. This trade represents a 39.95% 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. Also, Director Richard D. Fain sold 19,600 shares of Royal Caribbean Cruises stock in a transaction dated 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 of the company's stock, valued at $41,868,055.10. This trade represents a 10.59% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.95% of the company's stock.

Hedge Funds Weigh In On Royal Caribbean Cruises

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Brighton Jones LLC boosted its holdings in shares of Royal Caribbean Cruises by 12.2% in the 4th quarter. Brighton Jones LLC now owns 1,312 shares of the company's stock valued at $303,000 after buying an additional 143 shares in the last quarter. Brown Brothers Harriman & Co. lifted its position in Royal Caribbean Cruises by 618.8% in the fourth quarter. Brown Brothers Harriman & Co. now owns 115 shares of the company's stock valued at $27,000 after acquiring an additional 99 shares during the last quarter. Schroder Investment Management Group boosted its stake in Royal Caribbean Cruises by 50.5% in the fourth quarter. Schroder Investment Management Group now owns 53,628 shares of the company's stock valued at $12,482,000 after acquiring an additional 17,994 shares in the last quarter. CIBC Private Wealth Group LLC grew its holdings in shares of Royal Caribbean Cruises by 8.5% during the fourth quarter. CIBC Private Wealth Group LLC now owns 8,848 shares of the company's stock worth $2,010,000 after purchasing an additional 692 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC increased its position in shares of Royal Caribbean Cruises by 16.0% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 28,387 shares of the company's stock worth $6,549,000 after purchasing an additional 3,918 shares in the last quarter. 87.53% of the stock is 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.