Royal Caribbean Cruises (NYSE:RCL) Price Target Raised to $398.00 at Citigroup

by · The Cerbat Gem

Royal Caribbean Cruises (NYSE:RCL – Get Free Report) had its price objective boosted by analysts at Citigroup from $332.00 to $398.00 in a report released on Monday,Benzinga reports. The firm currently has a “buy” rating on the stock. Citigroup’s price objective would suggest a potential upside of 17.60% from the company’s current price.

A number of other equities research analysts have also weighed in on RCL. Truist Financial decreased their target price on Royal Caribbean Cruises from $321.00 to $318.00 and set a “hold” rating for the company in a research report on Thursday, January 22nd. UBS Group decreased their price target on Royal Caribbean Cruises from $353.00 to $304.00 and set a “buy” rating for the company in a report on Wednesday, November 12th. Wells Fargo & Company lifted their target price on shares of Royal Caribbean Cruises from $373.00 to $383.00 and gave the company an “overweight” rating in a report on Sunday. Stifel Nicolaus lifted their price objective on Royal Caribbean Cruises from $380.00 to $420.00 and gave the company a “buy” rating in a report on Friday. Finally, The Goldman Sachs Group lifted their price objective on Royal Caribbean Cruises from $310.00 to $370.00 and gave the company a “buy” rating in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Royal Caribbean Cruises currently has a consensus rating of “Moderate Buy” and an average target price of $343.05.

Read Our Latest Report on Royal Caribbean Cruises

Royal Caribbean Cruises Trading Up 4.2%

Shares of NYSE:RCL traded up $13.79 during midday trading on Monday, hitting $338.44. 1,246,820 shares of the stock were exchanged, compared to its average volume of 2,569,629. The stock has a market capitalization of $92.29 billion, a price-to-earnings ratio of 21.68, a P/E/G ratio of 0.90 and a beta of 1.91. The business’s 50-day moving average price is $282.50 and its 200 day moving average price is $303.81. The company has a debt-to-equity ratio of 1.77, a quick ratio of 0.16 and a current ratio of 0.18. Royal Caribbean Cruises has a 12 month low of $164.01 and a 12 month high of $366.50.

Royal Caribbean Cruises (NYSE:RCL – Get Free Report) last issued its quarterly earnings data on Thursday, January 29th. The company reported $2.80 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $2.80. Royal Caribbean Cruises had a net margin of 23.80% and a return on equity of 45.06%. The firm had revenue of $4.26 billion during the quarter, compared to analysts’ expectations of $4.28 billion. During the same period last year, the company earned $1.63 earnings per share. The business’s revenue was up 13.2% on a year-over-year basis. Analysts predict that Royal Caribbean Cruises will post 14.9 earnings per share for the current year.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Montag A & Associates Inc. boosted its stake in Royal Caribbean Cruises by 184.4% in the fourth quarter. Montag A & Associates Inc. now owns 91 shares of the company’s stock worth $25,000 after buying an additional 59 shares in the last quarter. Ares Financial Consulting LLC purchased a new stake in shares of Royal Caribbean Cruises during the fourth quarter worth about $26,000. 1 North Wealth Services LLC bought a new stake in shares of Royal Caribbean Cruises in the second quarter worth about $31,000. Evolution Wealth Management Inc. purchased a new position in Royal Caribbean Cruises in the second quarter worth about $31,000. Finally, SRH Advisors LLC bought a new stake in Royal Caribbean Cruises in the fourth quarter worth about $28,000. Hedge funds and other institutional investors own 87.53% of the company’s stock.

About Royal Caribbean Cruises

(Get Free Report)

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.

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