Royal Caribbean Cruises (NYSE:RCL) Issues Earnings Results

Royal Caribbean Cruises (NYSE:RCL) issued its quarterly earnings data on Thursday. The company reported $3.21 EPS for the quarter, topping analysts’ consensus estimates of $2.76 by $0.45, RTT News reports. The firm had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.05 billion. Royal Caribbean Cruises had a net margin of 16.32% and a return on equity of 52.49%. The firm’s revenue was up 16.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.82 EPS.

Royal Caribbean Cruises Price Performance

NYSE RCL opened at $153.56 on Friday. Royal Caribbean Cruises has a 52 week low of $78.35 and a 52 week high of $173.37. The company has a current ratio of 0.19, a quick ratio of 0.16 and a debt-to-equity ratio of 3.20. The stock has a market cap of $39.52 billion, a price-to-earnings ratio of 19.79, a price-to-earnings-growth ratio of 0.45 and a beta of 2.62. The company has a 50-day moving average price of $156.33 and a two-hundred day moving average price of $138.84.

Royal Caribbean Cruises Announces Dividend

The company also recently announced a — dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 20th will be given a $0.40 dividend. The ex-dividend date of this dividend is Friday, September 20th.

Insiders Place Their Bets

In other Royal Caribbean Cruises news, Director Richard D. Fain sold 19,584 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $153.96, for a total value of $3,015,152.64. Following the completion of the transaction, the director now owns 179,117 shares in the company, valued at approximately $27,576,853.32. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Michael W. Bayley sold 24,201 shares of the stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $140.21, for a total value of $3,393,222.21. Following the completion of the transaction, the chief executive officer now directly owns 98,850 shares in the company, valued at $13,859,758.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard D. Fain sold 19,584 shares of the stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $153.96, for a total transaction of $3,015,152.64. Following the completion of the transaction, the director now owns 179,117 shares of the company’s stock, valued at $27,576,853.32. The disclosure for this sale can be found here. In the last 90 days, insiders sold 102,884 shares of company stock worth $15,071,485. Insiders own 7.95% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on RCL shares. Susquehanna upped their target price on shares of Royal Caribbean Cruises from $150.00 to $160.00 and gave the company a “positive” rating in a research note on Friday, April 26th. Stifel Nicolaus upped their target price on shares of Royal Caribbean Cruises from $180.00 to $200.00 and gave the company a “buy” rating in a research note on Friday, July 19th. The Goldman Sachs Group upped their target price on shares of Royal Caribbean Cruises from $170.00 to $195.00 and gave the company a “buy” rating in a research note on Wednesday, July 17th. JPMorgan Chase & Co. boosted their price objective on shares of Royal Caribbean Cruises from $175.00 to $210.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Wells Fargo & Company boosted their price objective on shares of Royal Caribbean Cruises from $159.00 to $165.00 and gave the company an “overweight” rating in a research report on Friday, May 17th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $172.25.

Royal Caribbean Cruises Company Profile

Royal Caribbean Cruises Ltd. operates as a cruise company worldwide. The company operates cruises under the Royal Caribbean International, Celebrity Cruises, and Silversea Cruises brands, which comprise a range of itineraries. As of February 21, 2024, it operated 65 ships. Royal Caribbean Cruises Ltd.