Royal Caribbean Cruises (NYSE:RCL) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Royal Caribbean Cruises (NYSE:RCL) had its target price upped by research analysts at JPMorgan Chase & Co. from $368.00 to $371.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price suggests a potential upside of 9.66% from the stock’s current price.

Several other research analysts have also recently commented on the company. Susquehanna set a $350.00 price target on Royal Caribbean Cruises and gave the stock a “positive” rating in a research note on Thursday, October 30th. Sanford C. Bernstein restated an “outperform” rating and issued a $380.00 price target on shares of Royal Caribbean Cruises in a research report on Friday. The Goldman Sachs Group set a $370.00 target price on Royal Caribbean Cruises and gave the company a “buy” rating in a research note on Friday. Citigroup reiterated a “buy” rating on shares of Royal Caribbean Cruises in a research report on Wednesday, January 14th. Finally, Bank of America boosted their price objective on Royal Caribbean Cruises from $325.00 to $330.00 and gave the company a “neutral” rating in a research report on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, Royal Caribbean Cruises has an average rating of “Moderate Buy” and an average target price of $340.10.

Royal Caribbean Cruises Stock Up 4.2%

Shares of NYSE RCL traded up $13.68 on Monday, hitting $338.33. The company had a trading volume of 1,106,927 shares, compared to its average volume of 2,561,162. The firm has a market capitalization of $92.27 billion, a P/E ratio of 21.69, a PEG ratio of 0.90 and a beta of 1.91. The company has a quick ratio of 0.16, a current ratio of 0.18 and a debt-to-equity ratio of 1.77. Royal Caribbean Cruises has a 12-month low of $164.01 and a 12-month high of $366.50. The business has a 50 day moving average of $282.50 and a two-hundred day moving average of $303.81.

Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings data on Thursday, January 29th. The company reported $2.80 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.80. Royal Caribbean Cruises had a net margin of 23.80% and a return on equity of 45.06%. The company had revenue of $4.26 billion during the quarter, compared to the consensus estimate of $4.28 billion. During the same quarter last year, the company earned $1.63 earnings per share. Royal Caribbean Cruises’s revenue for the quarter was up 13.2% on a year-over-year basis. As a group, equities research analysts forecast that Royal Caribbean Cruises will post 14.9 earnings per share for the current fiscal year.

Royal Caribbean Cruises announced that its Board of Directors has initiated a stock buyback plan on Wednesday, December 10th that permits the company to buyback $2.00 billion in shares. This buyback authorization permits the company to repurchase up to 2.6% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Institutional Trading of Royal Caribbean Cruises

A number of institutional investors have recently added to or reduced their stakes in the business. Ares Financial Consulting LLC bought a new stake in shares of Royal Caribbean Cruises during the fourth quarter valued at approximately $26,000. SRH Advisors LLC bought a new position in Royal Caribbean Cruises in the 4th quarter valued at $28,000. 1 North Wealth Services LLC acquired a new stake in Royal Caribbean Cruises in the second quarter worth about $31,000. Evolution Wealth Management Inc. bought a new position in Royal Caribbean Cruises in the second quarter valued at approximately $31,000. Finally, Trust Co. of Toledo NA OH acquired a new stake in shares of Royal Caribbean Cruises during the second quarter worth $32,000. 87.53% of the stock is currently owned by institutional investors and hedge funds.

About Royal Caribbean Cruises

Royal Caribbean Cruises (NYSE: RCL), operating as part of the Royal Caribbean Group, is a global cruise company that develops, markets and operates passenger cruise ships. The company operates multiple consumer-facing cruise brands that offer short- and long-duration itineraries and a range of onboard experiences. Its core activities include itineraries and voyage operations, guest services and hospitality, onboard food and beverage, entertainment and recreation programming, and the commercial activities needed to sell and support cruises through both direct and travel‑agent channels.

Royal Caribbean’s ships serve a broad set of geographies worldwide, regularly deploying vessels in the Caribbean, North America (including Alaska), Europe, Asia, Australia and South America.