Royal Caribbean Cruises (NYSE:RCL) Announces Quarterly Earnings Results

Royal Caribbean Cruises (NYSE:RCL) released its quarterly earnings results on Thursday. The company reported $1.77 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.44, Briefing.com reports. Royal Caribbean Cruises had a return on equity of 51.54% and a net margin of 14.28%. The firm had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.69 billion. During the same quarter in the previous year, the company posted ($0.23) EPS. The business’s revenue was up 29.2% on a year-over-year basis.

Royal Caribbean Cruises Stock Performance

Shares of RCL stock opened at $140.59 on Friday. The company has a current ratio of 0.19, a quick ratio of 0.16 and a debt-to-equity ratio of 3.54. The firm has a fifty day simple moving average of $130.20 and a two-hundred day simple moving average of $117.67. Royal Caribbean Cruises has a 12 month low of $59.38 and a 12 month high of $141.70. The firm has a market capitalization of $36.09 billion, a PE ratio of 18.12, a price-to-earnings-growth ratio of 0.47 and a beta of 2.52.

Wall Street Analyst Weigh In

Several analysts recently commented on RCL shares. UBS Group upped their target price on Royal Caribbean Cruises from $148.00 to $154.00 and gave the company a “buy” rating in a report on Friday, February 16th. Wells Fargo & Company boosted their target price on shares of Royal Caribbean Cruises from $153.00 to $159.00 and gave the company an “overweight” rating in a report on Friday. Stifel Nicolaus increased their price target on Royal Caribbean Cruises from $170.00 to $174.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Morgan Stanley lifted their price objective on Royal Caribbean Cruises from $100.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 7th. Finally, Barclays upped their target price on Royal Caribbean Cruises from $154.00 to $165.00 and gave the company an “overweight” rating in a research report on Friday. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $138.76.

Insider Buying and Selling at Royal Caribbean Cruises

In other news, CEO Jason T. Liberty sold 50,000 shares of the business’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $139.63, for a total transaction of $6,981,500.00. Following the completion of the sale, the chief executive officer now directly owns 153,017 shares of the company’s stock, valued at $21,365,763.71. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, CEO Michael W. Bayley sold 11,753 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $116.01, for a total value of $1,363,465.53. Following the completion of the sale, the chief executive officer now directly owns 166,537 shares of the company’s stock, valued at approximately $19,319,957.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Jason T. Liberty sold 50,000 shares of Royal Caribbean Cruises stock in a transaction on Friday, April 26th. The stock was sold at an average price of $139.63, for a total transaction of $6,981,500.00. Following the transaction, the chief executive officer now directly owns 153,017 shares in the company, valued at $21,365,763.71. The disclosure for this sale can be found here. Insiders own 8.70% of the company’s stock.

About Royal Caribbean Cruises

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.