Royal Caribbean Cruises (NYSE:RCL) Sets New 1-Year High – Here’s Why

Royal Caribbean Cruises Ltd. (NYSE:RCL) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $226.68 and last traded at $225.70, with a volume of 128394 shares. The stock had previously closed at $210.77.

Analysts Set New Price Targets

Several research firms recently issued reports on RCL. Wells Fargo & Company upped their price objective on shares of Royal Caribbean Cruises from $180.00 to $232.00 and gave the stock an “overweight” rating in a report on Wednesday, October 30th. Susquehanna upped 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. Tigress Financial upped their target price on shares of Royal Caribbean Cruises from $155.00 to $210.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. The Goldman Sachs Group upped their target price on shares of Royal Caribbean Cruises from $220.00 to $245.00 and gave the company a “buy” rating in a research note on Wednesday, October 30th. Finally, Bank of America upped their target price on shares of Royal Caribbean Cruises from $205.00 to $210.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $214.00.

Royal Caribbean Cruises Trading Up 7.5 %

The business’s fifty day simple moving average is $182.72 and its 200 day simple moving average is $163.12. The company has a current ratio of 0.19, a quick ratio of 0.16 and a debt-to-equity ratio of 2.63. The stock has a market cap of $60.94 billion, a P/E ratio of 23.28, a price-to-earnings-growth ratio of 0.54 and a beta of 2.59.

Royal Caribbean Cruises (NYSE:RCL) last issued its earnings results on Tuesday, October 29th. The company reported $5.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.05 by $0.15. The company had revenue of $4.89 billion for the quarter, compared to analyst estimates of $4.89 billion. Royal Caribbean Cruises had a net margin of 16.21% and a return on equity of 52.92%. The company’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same quarter last year, the firm earned $3.85 EPS. As a group, analysts expect that Royal Caribbean Cruises Ltd. will post 11.65 EPS for the current year.

Insider Activity

In related news, Director Vagn O. Sorensen sold 5,800 shares of Royal Caribbean Cruises stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $158.50, for a total transaction of $919,300.00. Following the transaction, the director now owns 25,837 shares of the company’s stock, valued at $4,095,164.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Royal Caribbean Cruises news, CAO Henry L. Pujol sold 6,723 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The shares were sold at an average price of $208.51, for a total transaction of $1,401,812.73. Following the sale, the chief accounting officer now directly owns 9,964 shares in the company, valued at approximately $2,077,593.64. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Vagn O. Sorensen sold 5,800 shares of Royal Caribbean Cruises stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $158.50, for a total transaction of $919,300.00. Following the completion of the sale, the director now owns 25,837 shares in the company, valued at $4,095,164.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 40,596 shares of company stock valued at $8,090,059. 7.95% of the stock is currently owned by insiders.

Institutional Trading of Royal Caribbean Cruises

A number of hedge funds and other institutional investors have recently made changes to their positions in RCL. D1 Capital Partners L.P. raised its holdings in shares of Royal Caribbean Cruises by 105.7% in the second quarter. D1 Capital Partners L.P. now owns 1,512,103 shares of the company’s stock valued at $241,075,000 after purchasing an additional 777,103 shares during the last quarter. International Assets Investment Management LLC grew its stake in shares of Royal Caribbean Cruises by 10,599.0% in the third quarter. International Assets Investment Management LLC now owns 409,879 shares of the company’s stock valued at $72,696,000 after buying an additional 406,048 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Royal Caribbean Cruises by 24.3% in the second quarter. Dimensional Fund Advisors LP now owns 2,048,501 shares of the company’s stock valued at $326,616,000 after buying an additional 400,565 shares in the last quarter. Capital International Investors grew its stake in shares of Royal Caribbean Cruises by 1.0% in the first quarter. Capital International Investors now owns 29,596,455 shares of the company’s stock valued at $4,114,203,000 after buying an additional 286,868 shares in the last quarter. Finally, Forest Avenue Capital Management LP bought a new position in shares of Royal Caribbean Cruises in the second quarter valued at $35,038,000. 87.53% of the stock is currently owned by institutional investors and hedge funds.

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.