StockNews.com Downgrades Royal Caribbean Cruises (NYSE:RCL) to Sell

StockNews.com cut shares of Royal Caribbean Cruises (NYSE:RCL) from a hold rating to a sell rating in a research note issued to investors on Monday.

Other analysts also recently issued reports about the company. Barclays raised their price objective on Royal Caribbean Cruises from $244.00 to $245.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 30th. Stifel Nicolaus lifted their price target on shares of Royal Caribbean Cruises from $200.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Truist Financial lifted their target price on shares of Royal Caribbean Cruises from $175.00 to $204.00 and gave the company a “buy” rating in a report on Thursday, September 26th. Morgan Stanley upped their price target on Royal Caribbean Cruises from $140.00 to $154.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 7th. Finally, UBS Group lifted their price objective on Royal Caribbean Cruises from $168.00 to $183.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $220.00.

Royal Caribbean Cruises Price Performance

Royal Caribbean Cruises stock opened at $231.76 on Monday. 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 company has a 50-day moving average price of $195.09 and a 200 day moving average price of $168.99. Royal Caribbean Cruises has a 12-month low of $102.77 and a 12-month high of $238.10. The stock has a market cap of $62.31 billion, a P/E ratio of 23.82, a PEG ratio of 0.61 and a beta of 2.59.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings results on Tuesday, October 29th. The company reported $5.20 EPS for the quarter, beating the consensus estimate of $5.05 by $0.15. The firm 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 business’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.85 EPS. Sell-side analysts anticipate that Royal Caribbean Cruises will post 11.64 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Richard D. Fain sold 25,000 shares of the business’s stock in a transaction dated Wednesday, October 30th. The stock was sold at an average price of $210.02, for a total value of $5,250,500.00. Following the completion of the sale, the director now directly owns 204,521 shares of the company’s stock, valued at approximately $42,953,500.42. The trade was a 10.89 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Henry L. Pujol sold 6,723 shares of the firm’s stock in a transaction that occurred on Wednesday, October 30th. The stock was sold at an average price of $208.51, for a total value of $1,401,812.73. Following the transaction, the chief accounting officer now owns 9,964 shares in the company, valued at $2,077,593.64. This represents a 40.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 34,796 shares of company stock valued at $7,170,759 in the last ninety days. Insiders own 7.95% of the company’s stock.

Hedge Funds Weigh In On Royal Caribbean Cruises

A number of hedge funds have recently modified their holdings of RCL. Plato Investment Management Ltd acquired a new position in Royal Caribbean Cruises in the third quarter valued at $26,000. Unique Wealth Strategies LLC purchased a new position in shares of Royal Caribbean Cruises during the second quarter worth about $27,000. Safe Harbor Fiduciary LLC purchased a new position in shares of Royal Caribbean Cruises during the third quarter worth about $27,000. Versant Capital Management Inc increased its position in Royal Caribbean Cruises by 905.3% in the 2nd quarter. Versant Capital Management Inc now owns 191 shares of the company’s stock valued at $30,000 after acquiring an additional 172 shares during the period. Finally, DiNuzzo Private Wealth Inc. raised its stake in Royal Caribbean Cruises by 257.4% during the 3rd quarter. DiNuzzo Private Wealth Inc. now owns 168 shares of the company’s stock valued at $30,000 after acquiring an additional 121 shares during the last quarter. 87.53% of the stock is currently owned by hedge funds and other institutional investors.

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.