Analysts forecast that Royal Caribbean Group (NYSE:RCL) will announce $124.62 million in sales for the current quarter, Zacks reports. Six analysts have made estimates for Royal Caribbean Group’s earnings, with the lowest sales estimate coming in at $17.00 million and the highest estimate coming in at $322.90 million. Royal Caribbean Group reported sales of $175.61 million during the same quarter last year, which would suggest a negative year over year growth rate of 29%. The firm is expected to issue its next quarterly earnings results on Monday, August 9th.
According to Zacks, analysts expect that Royal Caribbean Group will report full year sales of $2.24 billion for the current fiscal year, with estimates ranging from $1.22 billion to $3.62 billion. For the next fiscal year, analysts forecast that the firm will report sales of $10.15 billion, with estimates ranging from $9.45 billion to $10.61 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research firms that cover Royal Caribbean Group.
Royal Caribbean Group (NYSE:RCL) last announced its quarterly earnings data on Thursday, April 29th. The company reported ($4.44) earnings per share (EPS) for the quarter, topping the consensus estimate of ($4.54) by $0.10. Royal Caribbean Group had a negative net margin of 24.36% and a negative return on equity of 25.20%.
Several brokerages have recently issued reports on RCL. Truist raised their price objective on shares of Royal Caribbean Group from $48.00 to $68.00 in a research note on Monday, March 15th. JPMorgan Chase & Co. lifted their price target on shares of Royal Caribbean Group from $100.00 to $110.00 and gave the stock an “overweight” rating in a research note on Monday, March 22nd. Morgan Stanley lifted their price target on shares of Royal Caribbean Group from $50.00 to $61.00 and gave the stock an “underweight” rating in a research note on Thursday, April 29th. UBS Group lifted their price target on shares of Royal Caribbean Group from $79.00 to $116.00 and gave the stock a “buy” rating in a research note on Wednesday, March 24th. Finally, The Goldman Sachs Group boosted their target price on shares of Royal Caribbean Group from $76.00 to $95.00 and gave the company a “neutral” rating in a research note on Tuesday, April 27th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and nine have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $77.13.
In related news, CFO Jason T. Liberty sold 3,000 shares of the firm’s stock in a transaction dated Monday, April 12th. The stock was sold at an average price of $88.77, for a total value of $266,310.00. Following the sale, the chief financial officer now directly owns 93,789 shares of the company’s stock, valued at $8,325,649.53. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Henry L. Pujol sold 15,208 shares of the stock in a transaction dated Wednesday, April 7th. The shares were sold at an average price of $95.00, for a total value of $1,444,760.00. Following the completion of the transaction, the chief accounting officer now owns 39,544 shares of the company’s stock, valued at $3,756,680. The disclosure for this sale can be found here. Insiders have sold a total of 76,688 shares of company stock valued at $6,980,182 over the last three months. Company insiders own 13.09% of the company’s stock.
A number of hedge funds have recently modified their holdings of the business. Buckingham Strategic Wealth LLC increased its holdings in Royal Caribbean Group by 1.6% in the first quarter. Buckingham Strategic Wealth LLC now owns 8,193 shares of the company’s stock worth $701,000 after purchasing an additional 127 shares in the last quarter. IMS Capital Management increased its holdings in Royal Caribbean Group by 0.9% in the first quarter. IMS Capital Management now owns 15,240 shares of the company’s stock worth $1,305,000 after purchasing an additional 140 shares in the last quarter. Moors & Cabot Inc. increased its holdings in Royal Caribbean Group by 3.9% in the fourth quarter. Moors & Cabot Inc. now owns 4,040 shares of the company’s stock worth $303,000 after purchasing an additional 150 shares in the last quarter. Advisor Partners LLC increased its holdings in Royal Caribbean Group by 0.9% in the third quarter. Advisor Partners LLC now owns 17,566 shares of the company’s stock worth $1,137,000 after purchasing an additional 157 shares in the last quarter. Finally, Blair William & Co. IL increased its holdings in Royal Caribbean Group by 1.4% in the fourth quarter. Blair William & Co. IL now owns 11,624 shares of the company’s stock worth $868,000 after purchasing an additional 164 shares in the last quarter. Institutional investors and hedge funds own 59.07% of the company’s stock.
Shares of Royal Caribbean Group stock traded down $3.92 during midday trading on Thursday, hitting $83.99. The company had a trading volume of 4,651,897 shares, compared to its average volume of 4,863,872. The business’s 50 day simple moving average is $86.92 and its two-hundred day simple moving average is $76.97. The stock has a market cap of $21.38 billion, a PE ratio of -4.26 and a beta of 2.86. The company has a debt-to-equity ratio of 2.12, a current ratio of 0.76 and a quick ratio of 0.73. Royal Caribbean Group has a 1-year low of $31.41 and a 1-year high of $99.24.
About Royal Caribbean Group
Royal Caribbean Group operates as a cruise company worldwide. The company operates cruises under the Royal Caribbean International, Celebrity Cruises, Azamara, and Silversea Cruises brands, which comprise a range of itineraries that call on approximately 1,000 destinations. As of December 31, 2020, it operated 61 ships with an aggregate capacity of approximately 137,930 berths.
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