William Blair analyst Sharon Zackfia has maintained their bullish stance on RCL stock, giving a Buy rating today.
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Sharon Zackfia’s rating is based on Royal Caribbean’s impressive third-quarter performance, where the company exceeded earnings expectations due to robust last-minute demand and lower-than-anticipated cruise costs. The company’s net yields, adjusted for constant currency, increased by 2.4%, which was at the upper end of their guidance despite being slightly below consensus expectations. This yield growth was primarily attributed to consistent performance across similar hardware, even with a projected headwind from ship delivery timings.
Furthermore, the growth in yields was supported by higher ticket prices and increased onboard spending, with a significant portion of onboard revenue being secured before the cruise through digital channels. These factors contributed to a positive outlook for the company, leading Sharon Zackfia to maintain a Buy rating for Royal Caribbean’s stock.
In another report released today, Mizuho Securities also maintained a Buy rating on the stock with a $362.00 price target.
Based on the recent corporate insider activity of 59 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of RCL in relation to earlier this year.