Northcoast Research Begins Coverage on Royal Caribbean Cruises (NYSE:RCL)

Research analysts at Northcoast Research started coverage on shares of Royal Caribbean Cruises (NYSE:RCL) in a research note issued on Friday, Marketbeat reports. The brokerage set a “buy” rating and a $279.00 price target on the stock. Northcoast Research’s target price points to a potential upside of 31.51% from the company’s current price.

Other equities research analysts have also recently issued reports about the stock. Loop Capital raised shares of Royal Caribbean Cruises from a “hold” rating to a “buy” rating and set a $250.00 price objective for the company in a research report on Wednesday, March 5th. Barclays reduced their price objective on shares of Royal Caribbean Cruises from $308.00 to $249.00 and set an “overweight” rating for the company in a research note on Tuesday, April 22nd. Tigress Financial upped their target price on Royal Caribbean Cruises from $270.00 to $330.00 and gave the stock a “buy” rating in a report on Friday, February 7th. UBS Group lifted their price target on Royal Caribbean Cruises from $271.00 to $301.00 and gave the company a “buy” rating in a report on Tuesday, February 4th. Finally, Citigroup upped their price objective on Royal Caribbean Cruises from $283.00 to $304.00 and gave the stock a “buy” rating in a research note on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $272.85.

Royal Caribbean Cruises Price Performance

Shares of Royal Caribbean Cruises stock opened at $212.15 on Friday. The stock has a market cap of $57.60 billion, a price-to-earnings ratio of 19.85, a price-to-earnings-growth ratio of 0.90 and a beta of 2.26. The company has a debt-to-equity ratio of 2.39, a quick ratio of 0.15 and a current ratio of 0.17. The stock has a 50 day moving average price of $211.89 and a 200-day moving average price of $226.61. Royal Caribbean Cruises has a one year low of $130.08 and a one year high of $277.08.

Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings data on Tuesday, January 28th. The company reported $1.63 earnings per share for the quarter, beating analysts’ consensus estimates of $1.50 by $0.13. Royal Caribbean Cruises had a net margin of 17.46% and a return on equity of 48.97%. During the same quarter in the previous year, the business earned $1.25 EPS. Equities analysts expect that Royal Caribbean Cruises will post 14.9 EPS for the current year.

Royal Caribbean Cruises announced that its Board of Directors has approved a stock repurchase plan on Wednesday, February 12th that allows the company to buyback $1.00 billion in shares. This buyback authorization allows the company to purchase up to 1.5% of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.

Insider Activity

In other news, Director Richard D. Fain sold 19,500 shares of the company’s stock in a transaction dated Thursday, February 13th. The stock was sold at an average price of $256.68, for a total value of $5,005,260.00. Following the sale, the director now owns 185,021 shares in the company, valued at $47,491,190.28. This represents a 9.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jason T. Liberty sold 58,000 shares of Royal Caribbean Cruises stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $261.95, for a total value of $15,193,100.00. Following the transaction, the chief executive officer now owns 143,214 shares of the company’s stock, valued at approximately $37,514,907.30. This represents a 28.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 109,492 shares of company stock valued at $28,571,705 in the last ninety days. Insiders own 7.95% of the company’s stock.

Institutional Investors Weigh In On Royal Caribbean Cruises

Hedge funds have recently bought and sold shares of the stock. Brown Brothers Harriman & Co. lifted its stake in shares of Royal Caribbean Cruises by 618.8% in the 4th quarter. Brown Brothers Harriman & Co. now owns 115 shares of the company’s stock valued at $27,000 after purchasing an additional 99 shares during the period. Fourth Dimension Wealth LLC purchased a new position in Royal Caribbean Cruises in the fourth quarter valued at $35,000. Bay Harbor Wealth Management LLC acquired a new position in shares of Royal Caribbean Cruises in the fourth quarter worth about $36,000. Truvestments Capital LLC purchased a new stake in shares of Royal Caribbean Cruises during the 4th quarter worth about $36,000. Finally, Capital A Wealth Management LLC acquired a new stake in shares of Royal Caribbean Cruises during the 4th quarter valued at about $40,000. Hedge funds and other institutional investors own 87.53% of the company’s stock.

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.