Jim Cramer’s 5 New Stock Picks for March 2024

4. Royal Caribbean Cruises Ltd (NYSE:RCL)

Number of Hedge Fund Investors: 54

Jim Cramer recently praised Royal Caribbean’s quarterly earnings and said the company is doing “incredible things.” Cramer likes the strong travel demand all over the world. Cramer said Royal Caribbean “has been the best.”

Cramer said people who are travelling are “long on money, short on time” and that’s why cruises provide a “bargain” for them to see the world.

Ariel Fund made the following comment about Royal Caribbean Cruises Ltd. (NYSE:RCL) in its Q2 2023 investor letter:

“Several stocks in the portfolio had strong returns over the period. Global cruise vacation company, Royal Caribbean Cruises Ltd. (NYSE:RCL), was one of the top 3 performers in the S&P 500 during the quarter. Shares surged following a significant top- and bottom-line earnings beat, as stronger than anticipated consumer demand is driving a record WAVE season. Forward booking trends are also ahead of historical ranges at record pricing. These factors combined with further improvement in onboard spend and solid cost containment led management to increase RCL’s full-year 2023 guidance. We believe the revised revenue and earnings outlook lays the foundation for RCL to exceed its’ three-year strategic imperative, the Trifecta Program.”