Royal Caribbean Cruises (NYSE:RCL) Stock Price Expected to Rise, Wells Fargo & Company Analyst Says

by · The Markets Daily

Royal Caribbean Cruises (NYSE:RCL – Get Free Report) had its target price lifted by Wells Fargo & Company from $180.00 to $232.00 in a report released on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price target indicates a potential upside of 10.80% from the stock’s previous close.

RCL has been the topic of a number of other research reports. JPMorgan Chase & Co. upped their target price on shares of Royal Caribbean Cruises from $213.00 to $243.00 and gave the stock an “overweight” rating in a report on Tuesday. Truist Financial increased their price objective on shares of Royal Caribbean Cruises from $175.00 to $204.00 and gave the company a “buy” rating in a research note on Thursday, September 26th. Stifel Nicolaus increased their price objective on shares of Royal Caribbean Cruises from $200.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, October 11th. Susquehanna increased their price objective on shares of Royal Caribbean Cruises from $160.00 to $180.00 and gave the company a “positive” rating in a research note on Tuesday, July 30th. Finally, Barclays increased their price objective on shares of Royal Caribbean Cruises from $244.00 to $245.00 and gave the company an “overweight” rating in a research note on Wednesday. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Royal Caribbean Cruises presently has an average rating of “Moderate Buy” and an average price target of $209.93.

Get Our Latest Report on Royal Caribbean Cruises

Royal Caribbean Cruises Trading Down 0.3 %

RCL traded down $0.71 during trading on Wednesday, reaching $209.39. 2,123,607 shares of the stock traded hands, compared to its average volume of 2,395,889. The company has a quick ratio of 0.17, a current ratio of 0.19 and a debt-to-equity ratio of 3.20. The stock has a market capitalization of $53.89 billion, a PE ratio of 22.88, a P/E/G ratio of 0.58 and a beta of 2.61. The stock’s 50-day moving average is $178.28 and its 200 day moving average is $160.35. Royal Caribbean Cruises has a 12 month low of $83.25 and a 12 month high of $214.12.

Royal Caribbean Cruises (NYSE:RCL – Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The company reported $5.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.05 by $0.15. The company had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $4.89 billion. Royal Caribbean Cruises had a net margin of 16.32% and a return on equity of 52.49%. The business’s revenue was up 17.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.85 EPS. Equities analysts anticipate that Royal Caribbean Cruises will post 11.61 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Laura H. Bethge sold 3,073 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $168.71, for a total value of $518,445.83. Following the completion of the transaction, the insider now directly owns 27,388 shares of the company’s stock, valued at approximately $4,620,629.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Laura H. Bethge sold 3,073 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $168.71, for a total value of $518,445.83. Following the completion of the transaction, the insider now directly owns 27,388 shares of the company’s stock, valued at approximately $4,620,629.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Naftali Holtz acquired 5,350 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The stock was acquired at an average cost of $140.00 per share, with a total value of $749,000.00. Following the completion of the acquisition, the chief financial officer now owns 48,256 shares in the company, valued at $6,755,840. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 7.95% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. DiNuzzo Private Wealth Inc. boosted its holdings in Royal Caribbean Cruises by 257.4% in the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 168 shares of the company’s stock valued at $30,000 after purchasing an additional 121 shares during the period. Unique Wealth Strategies LLC bought a new position in Royal Caribbean Cruises in the 2nd quarter valued at $27,000. Versant Capital Management Inc boosted its holdings in Royal Caribbean Cruises by 905.3% in the 2nd quarter. Versant Capital Management Inc now owns 191 shares of the company’s stock valued at $30,000 after purchasing an additional 172 shares during the period. AlphaMark Advisors LLC boosted its holdings in Royal Caribbean Cruises by 233.3% in the 2nd quarter. AlphaMark Advisors LLC now owns 200 shares of the company’s stock valued at $32,000 after purchasing an additional 140 shares during the period. Finally, Meeder Asset Management Inc. boosted its holdings in Royal Caribbean Cruises by 50.3% in the 2nd quarter. Meeder Asset Management Inc. now owns 233 shares of the company’s stock valued at $37,000 after purchasing an additional 78 shares during the period. 87.53% of the stock is owned by institutional investors.

About Royal Caribbean Cruises

(Get Free Report)

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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