Royal Caribbean Cruises Ltd (RCL) Expected to Announce Earnings of $2.49 Per Share
Wall Street analysts expect Royal Caribbean Cruises Ltd (NYSE:RCL) to announce $2.49 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Seven analysts have made estimates for Royal Caribbean Cruises’ earnings. The lowest EPS estimate is $2.47 and the highest is $2.52. Royal Caribbean Cruises reported earnings of $2.27 per share during the same quarter last year, which would indicate a positive year-over-year growth rate of 9.7%. The company is expected to issue its next quarterly earnings report on Thursday, August 1st.
On average, analysts expect that Royal Caribbean Cruises will report full-year earnings of $9.86 per share for the current financial year, with EPS estimates ranging from $9.79 to $9.98. For the next financial year, analysts forecast that the business will post earnings of $10.92 per share, with EPS estimates ranging from $10.50 to $11.15. Zacks’ earnings per share averages are an average based on a survey of analysts that cover Royal Caribbean Cruises.
Royal Caribbean Cruises (NYSE:RCL) last released its earnings results on Wednesday, May 1st. The company reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $1.11 by $0.20. The firm had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.38 billion. Royal Caribbean Cruises had a return on equity of 17.23% and a net margin of 18.60%. The company’s quarterly revenue was up 20.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.09 earnings per share.
A number of research analysts have recently commented on the company. Wedbush reaffirmed an “underweight” rating and set a $145.00 target price (up previously from $140.00) on shares of Royal Caribbean Cruises in a research note on Thursday, May 2nd. They noted that the move was a valuation call. Zacks Investment Research raised Royal Caribbean Cruises from a “hold” rating to a “buy” rating and set a $133.00 target price on the stock in a research note on Tuesday, April 9th. Buckingham Research upped their target price on Royal Caribbean Cruises from $148.00 to $158.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Citigroup upped their target price on Royal Caribbean Cruises from $138.00 to $154.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Finally, Wells Fargo & Co upped their target price on Royal Caribbean Cruises from $145.00 to $155.00 and gave the company an “outperform” rating in a research note on Monday, February 25th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and eleven have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $144.57.
Shares of RCL traded down $0.84 during mid-day trading on Friday, reaching $124.88. 752,934 shares of the company’s stock traded hands, compared to its average volume of 1,522,152. The stock has a market cap of $26.14 billion, a price-to-earnings ratio of 14.09, a P/E/G ratio of 1.10 and a beta of 1.51. Royal Caribbean Cruises has a 12 month low of $89.48 and a 12 month high of $133.60. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.14 and a current ratio of 0.16.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, July 3rd. Investors of record on Tuesday, June 4th will be issued a $0.70 dividend. The ex-dividend date is Monday, June 3rd. This represents a $2.80 dividend on an annualized basis and a dividend yield of 2.24%. Royal Caribbean Cruises’s payout ratio is 31.60%.
In other news, Director Stephen R. Jr. Howe purchased 420 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was purchased at an average price of $119.50 per share, for a total transaction of $50,190.00. Following the completion of the acquisition, the director now owns 1,944 shares of the company’s stock, valued at $232,308. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Bradley H. Stein sold 5,909 shares of the company’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $119.27, for a total value of $704,766.43. Following the sale, the senior vice president now owns 19,874 shares of the company’s stock, valued at approximately $2,370,371.98. The disclosure for this sale can be found here. Insiders sold 40,440 shares of company stock valued at $4,933,191 in the last quarter. 13.07% of the stock is owned by company insiders.
Institutional investors have recently bought and sold shares of the business. Rational Advisors LLC lifted its holdings in Royal Caribbean Cruises by 1,060.0% during the first quarter. Rational Advisors LLC now owns 232 shares of the company’s stock worth $27,000 after buying an additional 212 shares during the period. Front Row Advisors LLC lifted its holdings in Royal Caribbean Cruises by 475.0% during the first quarter. Front Row Advisors LLC now owns 230 shares of the company’s stock worth $27,000 after buying an additional 190 shares during the period. JOYN Advisors Inc. lifted its holdings in Royal Caribbean Cruises by 118.2% during the fourth quarter. JOYN Advisors Inc. now owns 312 shares of the company’s stock worth $31,000 after buying an additional 169 shares during the period. Athena Capital Advisors LLC purchased a new stake in Royal Caribbean Cruises during the fourth quarter worth $32,000. Finally, Exane Derivatives lifted its holdings in Royal Caribbean Cruises by 3,509.1% during the fourth quarter. Exane Derivatives now owns 397 shares of the company’s stock worth $39,000 after buying an additional 386 shares during the period. Institutional investors own 71.84% of the company’s stock.
Royal Caribbean Cruises Company Profile
Royal Caribbean Cruises Ltd. operates as a cruise company. The company operates cruises under the Royal Caribbean International, Celebrity Cruises, Azamara Club Cruises, and Silversea Cruises brands. The Royal Caribbean International brand provides itineraries to destinations worldwide, including Alaska, Asia, Australia, Bahamas, Bermuda, Canada, the Caribbean, Europe, the Panama Canal, and New Zealand with cruise lengths that range from 2 to 23 nights.
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