$2.58 Billion in Sales Expected for Royal Caribbean Cruises Ltd. (RCL) This Quarter
Wall Street analysts expect Royal Caribbean Cruises Ltd. (NYSE:RCL) to post $2.58 billion in sales for the current fiscal quarter, according to Zacks. Six analysts have made estimates for Royal Caribbean Cruises’ earnings, with the lowest sales estimate coming in at $2.56 billion and the highest estimate coming in at $2.61 billion. Royal Caribbean Cruises reported sales of $2.56 billion in the same quarter last year, which would indicate a positive year over year growth rate of 0.8%. The firm is expected to report its next earnings results on Friday, October 27th.
According to Zacks, analysts expect that Royal Caribbean Cruises will report full year sales of $2.58 billion for the current year, with estimates ranging from $8.71 billion to $8.80 billion. For the next fiscal year, analysts forecast that the firm will post sales of $9.30 billion per share, with estimates ranging from $9.21 billion to $9.35 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Royal Caribbean Cruises.
Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings data on Tuesday, August 1st. The company reported $1.71 EPS for the quarter, topping the Zacks’ consensus estimate of $1.67 by $0.04. The firm had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.19 billion. Royal Caribbean Cruises had a return on equity of 16.71% and a net margin of 17.73%. The company’s revenue was up 4.3% on a year-over-year basis. During the same period last year, the company earned $1.09 earnings per share.
Several research firms have commented on RCL. Zacks Investment Research downgraded Royal Caribbean Cruises from a “buy” rating to a “hold” rating in a research report on Wednesday. BidaskClub downgraded Royal Caribbean Cruises from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. UBS AG reiterated a “buy” rating and issued a $131.00 target price (up from $112.00) on shares of Royal Caribbean Cruises in a research report on Tuesday, August 8th. Buckingham Research increased their target price on Royal Caribbean Cruises to $149.00 and gave the company a “buy” rating in a research report on Wednesday, August 2nd. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $134.00 target price on shares of Royal Caribbean Cruises in a research report on Thursday, August 3rd. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $118.49.
In related news, CEO Richard D. Fain sold 20,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 13th. The stock was sold at an average price of $121.29, for a total transaction of $2,425,800.00. Following the completion of the sale, the chief executive officer now owns 927,741 shares of the company’s stock, valued at $112,525,705.89. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Richard D. Fain sold 210,706 shares of the firm’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $115.83, for a total value of $24,406,075.98. Following the sale, the chief executive officer now directly owns 967,741 shares of the company’s stock, valued at approximately $112,093,440.03. The disclosure for this sale can be found here. Insiders have sold 480,079 shares of company stock valued at $56,139,855 in the last ninety days. 15.30% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RCL. Acadian Asset Management LLC grew its stake in Royal Caribbean Cruises by 447.1% during the first quarter. Acadian Asset Management LLC now owns 1,778 shares of the company’s stock worth $174,000 after purchasing an additional 1,453 shares during the period. Canada Pension Plan Investment Board grew its stake in Royal Caribbean Cruises by 452.1% in the first quarter. Canada Pension Plan Investment Board now owns 41,275 shares of the company’s stock valued at $4,049,000 after acquiring an additional 33,799 shares during the period. LSV Asset Management acquired a new stake in Royal Caribbean Cruises in the first quarter valued at approximately $2,570,000. Suntrust Banks Inc. grew its stake in Royal Caribbean Cruises by 9.8% in the first quarter. Suntrust Banks Inc. now owns 4,570 shares of the company’s stock valued at $448,000 after acquiring an additional 408 shares during the period. Finally, UBS Asset Management Americas Inc. grew its stake in Royal Caribbean Cruises by 13.1% in the first quarter. UBS Asset Management Americas Inc. now owns 528,649 shares of the company’s stock valued at $51,866,000 after acquiring an additional 61,429 shares during the period. 71.60% of the stock is owned by institutional investors and hedge funds.
Shares of Royal Caribbean Cruises (NYSE:RCL) opened at 123.50 on Friday. The firm has a market capitalization of $26.57 billion, a price-to-earnings ratio of 17.33 and a beta of 1.03. The company has a 50-day moving average price of $119.51 and a 200-day moving average price of $108.56. Royal Caribbean Cruises has a 12 month low of $65.45 and a 12 month high of $125.00.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 11th. Investors of record on Friday, September 22nd will be paid a dividend of $0.60 per share. The ex-dividend date is Thursday, September 21st. This represents a $2.40 annualized dividend and a yield of 1.94%. This is a boost from Royal Caribbean Cruises’s previous quarterly dividend of $0.48. Royal Caribbean Cruises’s dividend payout ratio (DPR) is currently 26.97%.
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Royal Caribbean Cruises Company Profile
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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