Wells Fargo & Company Increases Royal Caribbean Cruises (NYSE:RCL) Price Target to $159.00

Royal Caribbean Cruises (NYSE:RCL) had its target price hoisted by research analysts at Wells Fargo & Company from $153.00 to $159.00 in a report issued on Friday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 13.64% from the stock’s previous close.

Other equities analysts have also recently issued reports about the stock. Stifel Nicolaus raised their price objective on shares of Royal Caribbean Cruises from $170.00 to $174.00 and gave the company a “buy” rating in a research note on Thursday, February 22nd. The Goldman Sachs Group reiterated a “buy” rating on shares of Royal Caribbean Cruises in a report on Monday, April 1st. Susquehanna raised their price objective on shares of Royal Caribbean Cruises from $150.00 to $160.00 and gave the stock a “positive” rating in a report on Friday. Morgan Stanley raised their price objective on shares of Royal Caribbean Cruises from $100.00 to $115.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 7th. Finally, UBS Group lifted their price target on shares of Royal Caribbean Cruises from $148.00 to $154.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $138.76.

Royal Caribbean Cruises Price Performance

Shares of RCL traded up $2.45 during mid-day trading on Friday, hitting $139.92. 1,773,064 shares of the company traded hands, compared to its average volume of 2,773,194. Royal Caribbean Cruises has a one year low of $59.38 and a one year high of $141.70. 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 business has a 50-day moving average of $129.71 and a 200 day moving average of $117.11. The stock has a market capitalization of $35.91 billion, a price-to-earnings ratio of 22.48, a PEG ratio of 0.50 and a beta of 2.52.

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

Insider Transactions at Royal Caribbean Cruises

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

Institutional Trading of Royal Caribbean Cruises

Several hedge funds have recently added to or reduced their stakes in the stock. Capital International Investors raised its position in Royal Caribbean Cruises by 1.2% in the fourth quarter. Capital International Investors now owns 29,309,587 shares of the company’s stock worth $3,795,368,000 after acquiring an additional 351,747 shares during the period. Vanguard Group Inc. raised its position in Royal Caribbean Cruises by 1.4% in the fourth quarter. Vanguard Group Inc. now owns 25,277,193 shares of the company’s stock worth $3,273,144,000 after acquiring an additional 359,770 shares during the period. Norges Bank bought a new stake in Royal Caribbean Cruises in the fourth quarter worth about $323,251,000. Northern Trust Corp raised its position in Royal Caribbean Cruises by 6.8% in the third quarter. Northern Trust Corp now owns 2,335,667 shares of the company’s stock worth $215,208,000 after acquiring an additional 148,532 shares during the period. Finally, Bank of New York Mellon Corp raised its position in Royal Caribbean Cruises by 0.7% in 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 during the period. 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.