Wall Street brokerages expect Royal Caribbean Cruises Ltd. (NYSE:RCL) to report earnings of $3.44 per share for the current fiscal quarter, Zacks reports. Six analysts have issued estimates for Royal Caribbean Cruises’ earnings, with the lowest EPS estimate coming in at $3.30 and the highest estimate coming in at $3.49. Royal Caribbean Cruises posted earnings of $3.20 per share in the same quarter last year, which would suggest a positive year-over-year growth rate of 7.5%. The firm is scheduled to announce its next quarterly earnings results on Friday, October 27th.
On average, analysts expect that Royal Caribbean Cruises will report full-year earnings of $7.44 per share for the current financial year, with EPS estimates ranging from $7.40 to $7.49. For the next financial year, analysts forecast that the company will report earnings of $8.40 per share, with EPS estimates ranging from $8.15 to $8.72. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that that provide coverage for Royal Caribbean Cruises.
Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings data on Tuesday, August 1st. The company reported $1.71 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.67 by $0.04. Royal Caribbean Cruises had a return on equity of 16.71% and a net margin of 17.73%. The firm had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.19 billion. During the same period in the previous year, the firm earned $1.09 EPS. The business’s quarterly revenue was up 4.3% on a year-over-year basis.
Several analysts recently commented on RCL shares. Zacks Investment Research lowered Royal Caribbean Cruises from a “buy” rating to a “hold” rating in a report on Wednesday, June 21st. Stifel Nicolaus raised their target price on Royal Caribbean Cruises from $115.00 to $125.00 and gave the stock a “buy” rating in a report on Monday, May 1st. Goldman Sachs Group, Inc. (The) raised their target price on Royal Caribbean Cruises from $90.00 to $94.00 and gave the stock a “sell” rating in a report on Monday, May 1st. Berenberg Bank reaffirmed a “buy” rating and set a $135.00 target price on shares of Royal Caribbean Cruises in a report on Thursday, August 3rd. Finally, J P Morgan Chase & Co raised Royal Caribbean Cruises from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $111.00 to $130.00 in a report on Thursday, July 20th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and nineteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $117.23.
Royal Caribbean Cruises (RCL) opened at 117.76 on Tuesday. Royal Caribbean Cruises has a 52-week low of $65.10 and a 52-week high of $120.00. The stock’s 50 day moving average price is $111.74 and its 200-day moving average price is $102.72. The stock has a market capitalization of $25.33 billion, a PE ratio of 16.52 and a beta of 1.06.
Royal Caribbean Cruises declared that its board has authorized a stock repurchase plan on Friday, April 28th that permits the company to repurchase $500.00 million in outstanding shares. This repurchase authorization permits the company to buy up to 2.2% of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.
In other news, CEO Lawrence R. Pimentel sold 17,000 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $120.50, for a total value of $2,048,500.00. Following the transaction, the chief executive officer now owns 20,045 shares in the company, valued at $2,415,422.50. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Bernt Reitan sold 4,793 shares of the firm’s stock in a transaction that occurred on Wednesday, August 2nd. The shares were sold at an average price of $117.22, for a total value of $561,835.46. Following the completion of the transaction, the director now owns 7,862 shares in the company, valued at approximately $921,583.64. The disclosure for this sale can be found here. In the last 90 days, insiders sold 452,499 shares of company stock worth $52,583,811. Company insiders own 15.30% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in RCL. Advisors Preferred LLC purchased a new position in Royal Caribbean Cruises during the first quarter valued at $103,000. NEXT Financial Group Inc increased its position in shares of Royal Caribbean Cruises by 25.0% in the first quarter. NEXT Financial Group Inc now owns 1,000 shares of the company’s stock worth $107,000 after buying an additional 200 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new position in shares of Royal Caribbean Cruises during the first quarter worth approximately $119,000. Whittier Trust Co. increased its position in shares of Royal Caribbean Cruises by 24.4% in the first quarter. Whittier Trust Co. now owns 1,266 shares of the company’s stock worth $124,000 after buying an additional 248 shares during the last quarter. Finally, Acadian Asset Management LLC increased its position in shares of Royal Caribbean Cruises by 447.1% in the first quarter. Acadian Asset Management LLC now owns 1,778 shares of the company’s stock worth $174,000 after buying an additional 1,453 shares during the last quarter. Institutional investors and hedge funds own 71.67% of the company’s stock.
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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