Zacks: Brokerages Anticipate Royal Caribbean Cruises Ltd. (RCL) to Announce $1.63 Earnings Per Share
Brokerages expect Royal Caribbean Cruises Ltd. (NYSE:RCL) to announce earnings of $1.63 per share for the current quarter, Zacks Investment Research reports. Six analysts have made estimates for Royal Caribbean Cruises’ earnings. The highest EPS estimate is $1.70 and the lowest is $1.45. Royal Caribbean Cruises reported earnings per share of $1.09 in the same quarter last year, which would suggest a positive year over year growth rate of 49.5%. The company is scheduled to issue its next quarterly earnings results on Tuesday, August 1st.
According to Zacks, analysts expect that Royal Caribbean Cruises will report full year earnings of $7.21 per share for the current fiscal year, with EPS estimates ranging from $7.11 to $7.38. For the next fiscal year, analysts anticipate that the firm will report earnings of $8.14 per share, with EPS estimates ranging from $7.72 to $8.39. Zacks’ EPS averages are a mean average based on a survey of research firms that cover Royal Caribbean Cruises.
Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings data on Friday, April 28th. The company reported $0.99 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.07. Royal Caribbean Cruises had a net margin of 16.29% and a return on equity of 15.91%. The business had revenue of $2.01 billion during the quarter, compared to analyst estimates of $2.02 billion. During the same period in the prior year, the business earned $0.57 EPS. The company’s revenue for the quarter was up 4.7% on a year-over-year basis.
Several analysts recently weighed in on the company. Zacks Investment Research upgraded Royal Caribbean Cruises from a “hold” rating to a “buy” rating and set a $123.00 price objective for the company in a report on Wednesday, June 14th. ValuEngine upgraded Royal Caribbean Cruises from a “hold” rating to a “buy” rating in a report on Friday, June 2nd. Stifel Nicolaus lifted their price objective on Royal Caribbean Cruises from $115.00 to $125.00 and gave the company a “buy” rating in a report on Monday, May 1st. Finally, Wells Fargo & Company restated an “outperform” rating and issued a $119.50 price objective (up from $117.50) on shares of Royal Caribbean Cruises in a report on Tuesday, May 2nd. Two research analysts have rated the stock with a sell rating, two have given a hold rating and sixteen have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $102.57.
In other news, CEO Richard D. Fain sold 20,000 shares of the company’s stock in a transaction that occurred on Thursday, April 13th. The stock was sold at an average price of $94.92, for a total transaction of $1,898,400.00. Following the completion of the transaction, the chief executive officer now directly owns 1,027,741 shares of the company’s stock, valued at approximately $97,553,175.72. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Harri U. Kulovaara sold 7,527 shares of the company’s stock in a transaction that occurred on Monday, May 1st. The stock was sold at an average price of $110.00, for a total value of $827,970.00. Following the transaction, the executive vice president now directly owns 29,667 shares of the company’s stock, valued at $3,263,370. The disclosure for this sale can be found here. In the last 90 days, insiders sold 47,527 shares of company stock worth $4,881,770. Insiders own 15.30% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in RCL. Prudential Financial Inc. increased its position in shares of Royal Caribbean Cruises by 17.8% in the first quarter. Prudential Financial Inc. now owns 477,787 shares of the company’s stock valued at $46,875,000 after buying an additional 72,120 shares during the last quarter. Bank of The West increased its position in shares of Royal Caribbean Cruises by 0.7% in the first quarter. Bank of The West now owns 34,275 shares of the company’s stock valued at $3,363,000 after buying an additional 222 shares during the last quarter. Baltimore Washington Financial Advisors Inc. increased its position in shares of Royal Caribbean Cruises by 8.2% in the fourth quarter. Baltimore Washington Financial Advisors Inc. now owns 65,260 shares of the company’s stock valued at $5,353,000 after buying an additional 4,950 shares during the last quarter. State of Alaska Department of Revenue acquired a new position in shares of Royal Caribbean Cruises during the first quarter valued at $1,108,000. Finally, Chevy Chase Trust Holdings Inc. increased its position in shares of Royal Caribbean Cruises by 3.4% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 144,593 shares of the company’s stock valued at $14,186,000 after buying an additional 4,735 shares during the last quarter. 71.15% of the stock is owned by institutional investors and hedge funds.
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Shares of Royal Caribbean Cruises (RCL) traded down 1.55% on Thursday, reaching $112.15. 1,717,280 shares of the company’s stock traded hands. The firm has a market cap of $24.12 billion, a P/E ratio of 17.33 and a beta of 1.08. The stock has a 50-day moving average of $109.53 and a 200 day moving average of $97.03. Royal Caribbean Cruises has a 12-month low of $64.95 and a 12-month high of $115.63.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 5th. Shareholders of record on Friday, June 2nd will be given a $0.48 dividend. The ex-dividend date of this dividend is Wednesday, May 31st. This represents a $1.92 annualized dividend and a yield of 1.71%. Royal Caribbean Cruises’s dividend payout ratio is presently 29.68%.
About Royal Caribbean Cruises
Royal Caribbean Cruises Ltd. is a cruise company. The Company owns and operates three global cruise brands: Royal Caribbean International, Celebrity Cruises and Azamara Club Cruises (Global Brands). The Company also own joint venture interest in the German brand TUI Cruises, interest in the Spanish brand Pullmantur and interest in the Chinese brand SkySea Cruises (collectively, Partner Brands).
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