Royal Caribbean Group (NYSE:RCL) Price Target Raised to $80.00 at Truist

Royal Caribbean Group (NYSE:RCL) had its target price raised by equities research analysts at Truist from $72.00 to $80.00 in a research note issued on Wednesday, The Fly reports. The firm currently has a “hold” rating on the stock. Truist’s price target points to a potential downside of 5.54% from the stock’s previous close.

Other equities analysts have also recently issued reports about the company. JPMorgan Chase & Co. lifted their price objective on Royal Caribbean Group from $112.00 to $123.00 and gave the company an “overweight” rating in a report on Thursday, June 17th. Deutsche Bank Aktiengesellschaft upped their price target on Royal Caribbean Group from $80.00 to $83.00 and gave the company a “hold” rating in a research report on Friday, August 20th. Finally, Wolfe Research upgraded Royal Caribbean Group from a “peer perform” rating to an “outperform” rating and set a $94.00 target price on the stock in a research report on Wednesday, June 16th. Two research analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, Royal Caribbean Group has a consensus rating of “Hold” and a consensus price target of $87.08.

NYSE:RCL opened at $84.69 on Wednesday. Royal Caribbean Group has a 1-year low of $51.33 and a 1-year high of $99.24. The business’s 50-day moving average price is $79.42 and its two-hundred day moving average price is $84.22. The company has a current ratio of 1.07, a quick ratio of 1.04 and a debt-to-equity ratio of 2.55. The firm has a market capitalization of $21.57 billion, a price-to-earnings ratio of -3.74 and a beta of 2.80.

Royal Caribbean Group (NYSE:RCL) last announced its earnings results on Tuesday, August 3rd. The company reported ($5.06) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($4.39) by ($0.67). The company had revenue of $50.91 million during the quarter, compared to analyst estimates of $140.36 million. The business’s revenue was down 71.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($6.13) earnings per share. Sell-side analysts predict that Royal Caribbean Group will post -16.55 earnings per share for the current year.

In other Royal Caribbean Group news, CEO Lisa Lutoff-Perlo sold 5,080 shares of the firm’s stock in a transaction dated Monday, September 13th. The stock was sold at an average price of $80.96, for a total transaction of $411,276.80. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 9.56% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. grew its stake in shares of Royal Caribbean Group by 5.9% in the first quarter. Envestnet Asset Management Inc. now owns 49,380 shares of the company’s stock worth $4,227,000 after purchasing an additional 2,740 shares during the last quarter. Alliancebernstein L.P. grew its stake in shares of Royal Caribbean Group by 1.2% in the first quarter. Alliancebernstein L.P. now owns 259,866 shares of the company’s stock worth $22,247,000 after purchasing an additional 3,198 shares during the last quarter. Bank of Nova Scotia grew its stake in shares of Royal Caribbean Group by 5.8% in the first quarter. Bank of Nova Scotia now owns 26,809 shares of the company’s stock worth $2,295,000 after purchasing an additional 1,481 shares during the last quarter. Quantitative Systematic Strategies LLC bought a new stake in shares of Royal Caribbean Group in the first quarter worth about $217,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in Royal Caribbean Group by 32.0% in the 1st quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 14,386 shares of the company’s stock worth $1,231,000 after acquiring an additional 3,485 shares during the last quarter. Hedge funds and other institutional investors own 68.73% of the company’s stock.

Royal Caribbean Group Company Profile

Royal Caribbean Cruises Group operates as a global cruise company. It controls and operates the following global cruise brands: Royal Caribbean International, Celebrity Cruises, Azamara, and Silversea Cruises. The firm also holds interest in TUI Cruises, Pullmantur, and SkySea Cruises brands. The company was founded in by Arne Wilhelmsen in 1968 and is headquartered in Miami, FL.

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