Royal Caribbean Cruises (NYSE:RCL) Given New $102.00 Price Target at Tigress Financial

Posted by Defense World Staff on May 27th, 2023

Royal Caribbean Cruises (NYSE:RCL – Get Rating) had its target price upped by Tigress Financial from $80.00 to $102.00 in a research report sent to investors on Friday morning, The Fly reports.

A number of other equities research analysts have also recently weighed in on RCL. Bank of America upgraded shares of Royal Caribbean Cruises from an underperform rating to a neutral rating and lifted their price target for the company from $40.00 to $78.00 in a research report on Wednesday, February 8th. Wells Fargo & Company lifted their price target on shares of Royal Caribbean Cruises from $78.00 to $88.00 in a research report on Friday, May 5th. Susquehanna lifted their price target on shares of Royal Caribbean Cruises from $80.00 to $85.00 in a research report on Friday, May 5th. Stifel Nicolaus raised their price objective on shares of Royal Caribbean Cruises from $86.00 to $90.00 in a research note on Wednesday, February 8th. Finally, UBS Group raised their price objective on shares of Royal Caribbean Cruises from $82.00 to $91.00 and gave the company a buy rating in a research note on Thursday, February 23rd. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Royal Caribbean Cruises presently has a consensus rating of Moderate Buy and a consensus price target of $84.71.

Royal Caribbean Cruises Stock Performance

RCL opened at $79.00 on Friday. The company has a quick ratio of 0.23, a current ratio of 0.26 and a debt-to-equity ratio of 6.41. The company has a market cap of $20.20 billion, a price-to-earnings ratio of -19.41 and a beta of 2.43. Royal Caribbean Cruises has a 52-week low of $31.09 and a 52-week high of $81.16. The firm’s fifty day simple moving average is $67.88 and its two-hundred day simple moving average is $64.04.

Royal Caribbean Cruises (NYSE:RCL – Get Rating) last released its quarterly earnings data on Thursday, May 4th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.71) by $0.48. Royal Caribbean Cruises had a negative net margin of 9.72% and a negative return on equity of 25.86%. The firm had revenue of $2.89 billion during the quarter, compared to analysts’ expectations of $2.82 billion. During the same period last year, the business earned ($4.57) earnings per share. Royal Caribbean Cruises’s revenue was up 172.4% compared to the same quarter last year. Equities analysts anticipate that Royal Caribbean Cruises will post 4.72 earnings per share for the current fiscal year.

Insider Activity

In other Royal Caribbean Cruises news, Director Arne Alexander Wilhelmsen sold 318,325 shares of the business’s stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $77.97, for a total value of $24,819,800.25. Following the transaction, the director now directly owns 20,167,507 shares of the company’s stock, valued at approximately $1,572,460,520.79. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Arne Alexander Wilhelmsen sold 318,325 shares of the business’s stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $77.97, for a total value of $24,819,800.25. Following the sale, the director now directly owns 20,167,507 shares in the company, valued at approximately $1,572,460,520.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jason T. Liberty sold 36,536 shares of the business’s stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $80.00, for a total transaction of $2,922,880.00. Following the completion of the sale, the chief executive officer now owns 147,078 shares in the company, valued at $11,766,240. The disclosure for this sale can be found here. Insiders have sold 729,861 shares of company stock valued at $58,020,180 in the last ninety days. 8.70% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Manchester Capital Management LLC acquired a new stake in Royal Caribbean Cruises during the 1st quarter worth approximately $25,000. Front Row Advisors LLC increased its position in Royal Caribbean Cruises by 134.3% during the 1st quarter. Front Row Advisors LLC now owns 410 shares of the company’s stock worth $27,000 after purchasing an additional 235 shares in the last quarter. Prostatis Group LLC acquired a new stake in Royal Caribbean Cruises during the 4th quarter worth approximately $32,000. Barrett & Company Inc. acquired a new stake in Royal Caribbean Cruises in the first quarter valued at approximately $33,000. Finally, Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Royal Caribbean Cruises in the first quarter valued at approximately $36,000. Institutional investors and hedge funds own 74.27% of the company’s stock.

Royal Caribbean Cruises Company Profile

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Royal Caribbean Group is a cruise company, which engages in the ownership and operation of the following global cruise brands: Royal Caribbean International, Celebrity Cruises, and Silversea Cruises. The firm also holds interest in TUI Cruises GmbH, which operates the German brands TUI Cruises and Hapag-Lloyd Cruises.

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