Brokerages expect Royal Caribbean Cruises Ltd (NYSE:RCL) to announce $2.82 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have issued estimates for Royal Caribbean Cruises’ earnings, with the highest sales estimate coming in at $2.84 billion and the lowest estimate coming in at $2.78 billion. Royal Caribbean Cruises posted sales of $2.57 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 9.7%. The firm is expected to announce its next earnings report on Tuesday, November 6th.
According to Zacks, analysts expect that Royal Caribbean Cruises will report full year sales of $9.41 billion for the current financial year, with estimates ranging from $9.36 billion to $9.44 billion. For the next year, analysts expect that the company will post sales of $10.37 billion per share, with estimates ranging from $10.12 billion to $10.82 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that cover Royal Caribbean Cruises.
Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings data on Thursday, August 2nd. The company reported $2.27 earnings per share for the quarter, topping the consensus estimate of $1.97 by $0.30. Royal Caribbean Cruises had a net margin of 19.31% and a return on equity of 16.50%. The firm had revenue of $2.34 billion during the quarter, compared to analysts’ expectations of $2.34 billion. During the same quarter in the previous year, the company posted $1.71 EPS. Royal Caribbean Cruises’s revenue was up 6.5% on a year-over-year basis.
Several research analysts recently weighed in on RCL shares. Deutsche Bank upgraded shares of Royal Caribbean Cruises from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $135.00 to $146.00 in a research report on Wednesday, August 29th. Zacks Investment Research upgraded shares of Royal Caribbean Cruises from a “hold” rating to a “buy” rating and set a $125.00 target price for the company in a research report on Wednesday, August 8th. Citigroup dropped their target price on shares of Royal Caribbean Cruises from $138.00 to $136.00 and set a “buy” rating for the company in a research report on Friday, August 17th. Stifel Nicolaus dropped their target price on shares of Royal Caribbean Cruises from $153.00 to $150.00 and set a “buy” rating for the company in a research report on Tuesday, July 24th. Finally, Morgan Stanley dropped their target price on shares of Royal Caribbean Cruises from $130.00 to $110.00 and set an “equal weight” rating for the company in a research report on Tuesday, June 5th. Five analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $139.73.
RCL stock traded down $0.34 during trading on Tuesday, hitting $131.80. The company had a trading volume of 39,957 shares, compared to its average volume of 1,486,580. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.20 and a quick ratio of 0.18. Royal Caribbean Cruises has a 12 month low of $101.20 and a 12 month high of $135.65. The stock has a market capitalization of $27.43 billion, a PE ratio of 17.59, a price-to-earnings-growth ratio of 0.93 and a beta of 1.18.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 11th. Shareholders of record on Friday, September 21st will be given a dividend of $0.70 per share. This is a boost from Royal Caribbean Cruises’s previous quarterly dividend of $0.60. The ex-dividend date of this dividend is Thursday, September 20th. This represents a $2.80 annualized dividend and a dividend yield of 2.12%. Royal Caribbean Cruises’s payout ratio is presently 31.87%.
In other Royal Caribbean Cruises news, EVP Harri U. Kulovaara sold 6,600 shares of the company’s stock in a transaction on Thursday, September 13th. The shares were sold at an average price of $125.55, for a total transaction of $828,630.00. Following the completion of the sale, the executive vice president now owns 26,165 shares in the company, valued at approximately $3,285,015.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 15.26% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Earnest Partners LLC increased its position in shares of Royal Caribbean Cruises by 0.4% in the 2nd quarter. Earnest Partners LLC now owns 104,334 shares of the company’s stock valued at $10,809,000 after buying an additional 457 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its position in shares of Royal Caribbean Cruises by 5.5% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 8,866 shares of the company’s stock valued at $919,000 after buying an additional 465 shares in the last quarter. CIBC Asset Management Inc boosted its stake in Royal Caribbean Cruises by 2.8% in the 2nd quarter. CIBC Asset Management Inc now owns 17,855 shares of the company’s stock worth $1,850,000 after purchasing an additional 480 shares during the period. NewFocus Financial Group LLC boosted its stake in Royal Caribbean Cruises by 4.3% in the 2nd quarter. NewFocus Financial Group LLC now owns 11,613 shares of the company’s stock worth $1,203,000 after purchasing an additional 484 shares during the period. Finally, BB&T Securities LLC boosted its stake in Royal Caribbean Cruises by 20.7% in the 1st quarter. BB&T Securities LLC now owns 2,982 shares of the company’s stock worth $351,000 after purchasing an additional 511 shares during the period. Institutional investors and hedge funds own 71.00% 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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