Barclays Boosts Royal Caribbean Cruises (NYSE:RCL) Price Target to $165.00

Royal Caribbean Cruises (NYSE:RCL) had its price objective increased by equities research analysts at Barclays from $154.00 to $165.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Barclays‘s price objective suggests a potential upside of 18.59% from the company’s current price.

Several other research firms have also recently commented on RCL. Wells Fargo & Company upped their target price on shares of Royal Caribbean Cruises from $151.00 to $153.00 and gave the company an “overweight” rating in a research note on Monday, February 26th. Susquehanna upped their price target on Royal Caribbean Cruises from $120.00 to $150.00 and gave the company a “positive” rating in a report on Wednesday, January 31st. Stifel Nicolaus lifted their price objective on Royal Caribbean Cruises from $170.00 to $174.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Macquarie upped their target price on Royal Caribbean Cruises from $145.00 to $160.00 and gave the company an “outperform” rating in a research note on Friday, March 15th. Finally, Morgan Stanley lifted their price target on shares of Royal Caribbean Cruises from $100.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 7th. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $138.18.

Royal Caribbean Cruises Stock Up 1.2 %

RCL stock traded up $1.66 during mid-day trading on Friday, hitting $139.13. The stock had a trading volume of 832,176 shares, compared to its average volume of 2,758,702. Royal Caribbean Cruises has a 1-year low of $59.38 and a 1-year high of $141.70. The company has a fifty day moving average of $129.71 and a 200 day moving average of $117.11. The company has a current ratio of 0.19, a quick ratio of 0.16 and a debt-to-equity ratio of 4.03. The stock has a market capitalization of $35.71 billion, a price-to-earnings ratio of 22.52, a PEG ratio of 0.50 and a beta of 2.52.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings data on Thursday, April 25th. The company reported $1.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.44. The business had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.69 billion. Royal Caribbean Cruises had a net margin of 12.22% and a return on equity of 45.55%. Royal Caribbean Cruises’s quarterly revenue was up 29.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.23) EPS. On average, equities analysts expect that Royal Caribbean Cruises will post 10.06 EPS for the current fiscal year.

Insider Activity at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, CEO Michael W. Bayley sold 11,753 shares of Royal Caribbean Cruises stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $116.01, for a total transaction of $1,363,465.53. Following the completion of the sale, the chief executive officer now owns 166,537 shares of the company’s stock, valued at approximately $19,319,957.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 8.70% of the stock is currently owned by company insiders.

Institutional Trading of Royal Caribbean Cruises

A number of institutional investors and hedge funds have recently modified their holdings of RCL. Capital International Investors grew its holdings in Royal Caribbean Cruises by 1.2% during the fourth quarter. Capital International Investors now owns 29,309,587 shares of the company’s stock valued at $3,795,368,000 after purchasing an additional 351,747 shares during the period. Vanguard Group Inc. grew its position in shares of Royal Caribbean Cruises by 1.4% in the 4th quarter. Vanguard Group Inc. now owns 25,277,193 shares of the company’s stock valued at $3,273,144,000 after purchasing an additional 359,770 shares during the period. Norges Bank bought a new stake in Royal Caribbean Cruises during the 4th quarter worth approximately $323,251,000. Northern Trust Corp boosted its holdings in shares of Royal Caribbean Cruises by 6.8% in the third quarter. Northern Trust Corp now owns 2,335,667 shares of the company’s stock valued at $215,208,000 after buying an additional 148,532 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of Royal Caribbean Cruises by 0.7% during the third quarter. Bank of New York Mellon Corp now owns 1,533,566 shares of the company’s stock worth $141,303,000 after acquiring an additional 10,095 shares in the last quarter. 87.53% of the stock is owned by institutional investors.

Royal Caribbean Cruises Company Profile

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.