Wall Street brokerages expect Royal Caribbean Cruises (NYSE:RCL) to report $2.32 billion in sales for the current quarter, according to Zacks. Five analysts have issued estimates for Royal Caribbean Cruises’ earnings. The lowest sales estimate is $2.30 billion and the highest is $2.33 billion. Royal Caribbean Cruises posted sales of $2.20 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 5.5%. The business is expected to report its next earnings results on Tuesday, August 7th.
On average, analysts expect that Royal Caribbean Cruises will report full year sales of $9.40 billion for the current fiscal year, with estimates ranging from $9.34 billion to $9.46 billion. For the next year, analysts anticipate that the firm will post sales of $10.23 billion per share, with estimates ranging from $10.13 billion to $10.36 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow Royal Caribbean Cruises.
Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings data on Thursday, April 26th. The company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.97 by $0.12. The firm had revenue of $2.03 billion during the quarter, compared to analysts’ expectations of $2.04 billion. Royal Caribbean Cruises had a return on equity of 15.85% and a net margin of 18.52%. The business’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.99 earnings per share.
A number of analysts recently issued reports on the company. Stifel Nicolaus reissued a “buy” rating on shares of Royal Caribbean Cruises in a research report on Thursday, April 19th. Zacks Investment Research cut Royal Caribbean Cruises from a “buy” rating to a “hold” rating in a research report on Wednesday, April 25th. ValuEngine raised Royal Caribbean Cruises from a “hold” rating to a “buy” rating in a research report on Friday, February 2nd. Bank of America boosted their price target on Royal Caribbean Cruises from $135.00 to $138.00 and gave the stock a “neutral” rating in a research report on Thursday, January 25th. Finally, JPMorgan Chase boosted their price target on Royal Caribbean Cruises from $139.00 to $150.00 and gave the stock an “overweight” rating in a research report on Thursday, January 25th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $136.87.
RCL opened at $106.96 on Friday. The firm has a market cap of $22.73 billion, a P/E ratio of 14.20, a PEG ratio of 0.76 and a beta of 1.23. Royal Caribbean Cruises has a 1 year low of $103.76 and a 1 year high of $135.65. The company has a quick ratio of 0.18, a current ratio of 0.20 and a debt-to-equity ratio of 0.72.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 3rd. Shareholders of record on Monday, June 4th will be given a $0.60 dividend. The ex-dividend date of this dividend is Friday, June 1st. This represents a $2.40 dividend on an annualized basis and a dividend yield of 2.24%. Royal Caribbean Cruises’s dividend payout ratio is currently 31.87%.
Royal Caribbean Cruises declared that its board has approved a share repurchase program on Wednesday, May 9th that allows the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization allows the company to purchase up to 4.5% of its stock through open market purchases. Stock repurchase programs are usually a sign that the company’s board believes its stock is undervalued.
In other news, CEO Richard D. Fain sold 20,000 shares of Royal Caribbean Cruises stock in a transaction dated Friday, April 13th. The stock was sold at an average price of $114.84, for a total value of $2,296,800.00. Following the transaction, the chief executive officer now directly owns 885,037 shares in the company, valued at $101,637,649.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jason T. Liberty sold 10,844 shares of Royal Caribbean Cruises stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $132.04, for a total value of $1,431,841.76. Following the completion of the transaction, the chief financial officer now owns 44,089 shares in the company, valued at $5,821,511.56. The disclosure for this sale can be found here. Insiders sold 69,904 shares of company stock worth $8,759,535 over the last quarter. 15.26% of the stock is currently owned by corporate insiders.
Several institutional investors have recently bought and sold shares of RCL. Advisors Preferred LLC bought a new position in shares of Royal Caribbean Cruises in the first quarter worth about $110,000. NuWave Investment Management LLC bought a new position in shares of Royal Caribbean Cruises in the fourth quarter worth about $185,000. Checchi Capital Advisers LLC bought a new position in shares of Royal Caribbean Cruises in the fourth quarter worth about $207,000. Squar Milner Financial Services LLC bought a new position in shares of Royal Caribbean Cruises in the fourth quarter worth about $207,000. Finally, NEXT Financial Group Inc bought a new position in shares of Royal Caribbean Cruises in the first quarter worth about $214,000. Institutional investors and hedge funds own 75.53% 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, and Azamara Club 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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