Sanford C. Bernstein Initiates Coverage on Royal Caribbean Cruises (NYSE:RCL)

Sanford C. Bernstein started coverage on shares of Royal Caribbean Cruises (NYSE:RCL) in a report released on Tuesday, Marketbeat Ratings reports. The brokerage issued an outperform rating and a $290.00 price target on the stock.

Other research analysts have also issued research reports about the company. Bank of America boosted their price objective on Royal Caribbean Cruises from $210.00 to $240.00 and gave the stock a “neutral” rating in a report on Wednesday, November 13th. StockNews.com cut shares of Royal Caribbean Cruises from a “hold” rating to a “sell” rating in a research note on Monday, November 18th. Stifel Nicolaus increased their price target on shares of Royal Caribbean Cruises from $200.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Susquehanna lifted their price objective on shares of Royal Caribbean Cruises from $160.00 to $180.00 and gave the stock a “positive” rating in a report on Tuesday, July 30th. Finally, Tigress Financial increased their target price on Royal Caribbean Cruises from $210.00 to $270.00 and gave the company a “buy” rating in a research note on Thursday, November 7th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Royal Caribbean Cruises has an average rating of “Moderate Buy” and a consensus price target of $224.38.

Royal Caribbean Cruises Stock Performance

NYSE RCL opened at $244.06 on Tuesday. The company’s 50 day simple moving average is $208.22 and its two-hundred day simple moving average is $174.80. The company has a debt-to-equity ratio of 2.63, a current ratio of 0.19 and a quick ratio of 0.16. Royal Caribbean Cruises has a 1 year low of $106.12 and a 1 year high of $245.91. The stock has a market capitalization of $65.62 billion, a PE ratio of 25.08, a P/E/G ratio of 0.64 and a beta of 2.59.

Royal Caribbean Cruises (NYSE:RCL) last issued 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. Royal Caribbean Cruises had a return on equity of 52.92% and a net margin of 16.21%. The company had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.89 billion. During the same quarter last year, the business posted $3.85 earnings per share. The firm’s revenue was up 17.5% compared to the same quarter last year. Analysts predict that Royal Caribbean Cruises will post 11.65 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Arne Alexander Wilhelmsen sold 139,353 shares of the stock in a transaction dated Thursday, November 21st. The shares were sold at an average price of $237.89, for a total transaction of $33,150,685.17. Following the completion of the sale, the director now directly owns 18,167,507 shares in the company, valued at approximately $4,321,868,240.23. This represents a 0.76 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Richard D. Fain sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $210.02, for a total value of $5,250,500.00. Following the completion of the sale, the director now directly owns 204,521 shares in the company, valued at $42,953,500.42. The trade was a 10.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 404,332 shares of company stock valued at $94,299,521 in the last ninety days. Company insiders own 7.95% of the company’s stock.

Hedge Funds Weigh In On Royal Caribbean Cruises

Hedge funds and other institutional investors have recently made changes to their positions in the business. Plato Investment Management Ltd purchased a new position in Royal Caribbean Cruises during the 3rd quarter valued at $26,000. Safe Harbor Fiduciary LLC purchased a new position in shares of Royal Caribbean Cruises during the third quarter valued at about $27,000. DiNuzzo Private Wealth Inc. raised its stake in Royal Caribbean Cruises by 257.4% in the third quarter. DiNuzzo Private Wealth Inc. now owns 168 shares of the company’s stock worth $30,000 after buying an additional 121 shares in the last quarter. Unique Wealth Strategies LLC purchased a new stake in Royal Caribbean Cruises in the second quarter worth about $27,000. Finally, LRI Investments LLC bought a new stake in Royal Caribbean Cruises during the 3rd quarter valued at approximately $31,000. 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.