Brokerages predict that Royal Caribbean Cruises Ltd (NYSE:RCL) will announce sales of $2.80 billion for the current quarter, Zacks reports. Six analysts have issued estimates for Royal Caribbean Cruises’ earnings, with the highest sales estimate coming in at $2.83 billion and the lowest estimate coming in at $2.76 billion. Royal Caribbean Cruises posted sales of $2.34 billion in the same quarter last year, which would indicate a positive year over year growth rate of 19.7%. The business is expected to report its next quarterly earnings results on Thursday, August 1st.
On average, analysts expect that Royal Caribbean Cruises will report full year sales of $11.05 billion for the current fiscal year, with estimates ranging from $10.96 billion to $11.16 billion. For the next fiscal year, analysts forecast that the firm will report sales of $11.87 billion, with estimates ranging from $11.68 billion to $12.24 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Royal Caribbean Cruises.
Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings data on Wednesday, May 1st. The company reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.11 by $0.20. Royal Caribbean Cruises had a net margin of 18.60% and a return on equity of 17.23%. The firm had revenue of $2.44 billion during the quarter, compared to the consensus estimate of $2.38 billion. During the same quarter in the previous year, the firm posted $1.09 EPS. The company’s revenue for the quarter was up 20.3% compared to the same quarter last year.
A number of research analysts recently weighed in on RCL shares. Nomura lowered their target price on shares of Signet Jewelers from $28.00 to $21.00 and set a “neutral” rating on the stock in a research note on Friday, June 7th. Deutsche Bank cut shares of Hilton Hotels from a “buy” rating to a “hold” rating and set a $92.60 target price on the stock. in a research note on Wednesday, May 1st. They noted that the move was a valuation call. Zacks Investment Research upgraded shares of GreenTree Hospitality Group from a “sell” rating to a “hold” rating in a research note on Monday, April 15th. Wedbush restated a “buy” rating on shares of Liquidia Technologies in a research note on Thursday, May 2nd. Finally, Buckingham Research boosted their price target on shares of Royal Caribbean Cruises from $148.00 to $158.00 and gave the stock a “buy” rating in a research note on Thursday, May 2nd. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $143.75.
Shares of RCL traded down $0.38 during trading hours on Thursday, reaching $110.00. 106,031 shares of the stock traded hands, compared to its average volume of 1,529,919. The company has a debt-to-equity ratio of 0.67, a quick ratio of 0.14 and a current ratio of 0.16. Royal Caribbean Cruises has a 52-week low of $89.48 and a 52-week high of $133.60. The company’s 50-day simple moving average is $119.94. The company has a market capitalization of $23.18 billion, a P/E ratio of 12.41, a P/E/G ratio of 1.03 and a beta of 1.32.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 3rd. Stockholders of record on Tuesday, June 4th were given a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 2.55%. The ex-dividend date was Monday, June 3rd. Royal Caribbean Cruises’s dividend payout ratio is 31.60%.
In other news, SVP Henry L. Pujol sold 4,134 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $128.20, for a total transaction of $529,978.80. Following the sale, the senior vice president now directly owns 45,342 shares in the company, valued at approximately $5,812,844.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Maritza Gomez Montiel sold 2,700 shares of the company’s stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $126.49, for a total transaction of $341,523.00. Following the sale, the director now owns 3,081 shares in the company, valued at $389,715.69. The disclosure for this sale can be found here. 13.07% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in RCL. First National Bank of Omaha grew its holdings in Royal Caribbean Cruises by 0.3% during the 2nd quarter. First National Bank of Omaha now owns 42,140 shares of the company’s stock valued at $5,108,000 after purchasing an additional 145 shares during the last quarter. Boston Private Wealth LLC grew its stake in Royal Caribbean Cruises by 0.6% in the 2nd quarter. Boston Private Wealth LLC now owns 320,871 shares of the company’s stock worth $38,893,000 after acquiring an additional 1,856 shares in the last quarter. Scout Investments Inc. grew its stake in Royal Caribbean Cruises by 92.0% in the 2nd quarter. Scout Investments Inc. now owns 202,439 shares of the company’s stock worth $24,538,000 after acquiring an additional 97,018 shares in the last quarter. Surevest Inc. grew its stake in Royal Caribbean Cruises by 42.0% in the 2nd quarter. Surevest Inc. now owns 10,092 shares of the company’s stock worth $1,223,000 after acquiring an additional 2,983 shares in the last quarter. Finally, Retirement Systems of Alabama grew its stake in Royal Caribbean Cruises by 0.4% in the 2nd quarter. Retirement Systems of Alabama now owns 80,170 shares of the company’s stock worth $9,717,000 after acquiring an additional 297 shares in the last quarter. Hedge funds and other institutional investors own 72.69% 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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