Royal Caribbean Cruises (NYSE:RCL) Announces Earnings Results

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Royal Caribbean Cruises (NYSE:RCL) issued its earnings results on Thursday, October 25th. The company reported $3.98 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $3.97 by $0.01, MarketWatch Earnings reports. The company had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.82 billion. Royal Caribbean Cruises had a return on equity of 16.93% and a net margin of 19.46%. Royal Caribbean Cruises updated its FY 2018 guidance to $8.75-8.85 EPS and its Q4 2018 guidance to $1.45-1.50 EPS.

Royal Caribbean Cruises stock traded down $0.52 during mid-day trading on Friday, reaching $107.17. The company’s stock had a trading volume of 1,614,300 shares, compared to its average volume of 2,290,978. The firm has a market capitalization of $22.79 billion, a price-to-earnings ratio of 14.23, a P/E/G ratio of 0.89 and a beta of 1.34. The company has a current ratio of 0.19, a quick ratio of 0.17 and a debt-to-equity ratio of 0.67. Royal Caribbean Cruises has a 12-month low of $97.48 and a 12-month high of $135.65.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 11th. Investors of record on Friday, September 21st were paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.61%. This is a positive change from Royal Caribbean Cruises’s previous quarterly dividend of $0.60. The ex-dividend date was Thursday, September 20th. Royal Caribbean Cruises’s payout ratio is currently 37.18%.

A number of equities analysts have issued reports on the company. Citigroup cut their price target on Royal Caribbean Cruises from $136.00 to $125.00 and set a “buy” rating for the company in a research note on Tuesday, October 30th. Wells Fargo & Co dropped their target price on shares of Royal Caribbean Cruises from $150.00 to $145.00 and set an “outperform” rating on the stock in a research report on Monday, October 29th. ValuEngine cut shares of Royal Caribbean Cruises from a “hold” rating to a “sell” rating in a research report on Saturday, October 27th. Deutsche Bank set a $138.00 target price on shares of Royal Caribbean Cruises and gave the stock a “buy” rating in a research report on Friday, October 26th. Finally, Nomura dropped their target price on shares of Royal Caribbean Cruises from $153.00 to $152.00 and set a “buy” rating on the stock in a research report on Friday, October 26th. One analyst has rated the stock with a sell rating, four have given a hold rating and eleven have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $139.29.

In other news, EVP Harri U. Kulovaara sold 6,600 shares of the business’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 transaction, the executive vice president now directly owns 26,165 shares in the company, valued at approximately $3,285,015.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 15.26% of the stock is owned by insiders.

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About Royal Caribbean Cruises

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.

Read More: Rule of 72

Earnings History for Royal Caribbean Cruises (NYSE:RCL)

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