Royal Caribbean Cruises (NYSE:RCL) Issues Earnings Results, Beats Estimates By $0.45 EPS

Royal Caribbean Cruises (NYSE:RCL) released its earnings results on Thursday. The company reported $3.21 EPS for the quarter, beating analysts’ consensus estimates of $2.76 by $0.45, RTT News reports. Royal Caribbean Cruises had a return on equity of 52.49% and a net margin of 16.32%. The business had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.05 billion. During the same quarter in the prior year, the firm earned $1.82 earnings per share. The firm’s revenue was up 16.4% on a year-over-year basis.

Royal Caribbean Cruises Stock Performance

Shares of RCL opened at $153.56 on Friday. The company has a debt-to-equity ratio of 3.20, a current ratio of 0.19 and a quick ratio of 0.16. Royal Caribbean Cruises has a one year low of $78.35 and a one year high of $173.37. The company has a 50-day simple moving average of $156.33 and a two-hundred day simple moving average of $138.95. The firm has a market capitalization of $39.52 billion, a PE ratio of 19.79, a price-to-earnings-growth ratio of 0.45 and a beta of 2.62.

Royal Caribbean Cruises Announces Dividend

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

Analyst Upgrades and Downgrades

RCL has been the topic of a number of recent research reports. Citigroup raised their price objective on Royal Caribbean Cruises from $165.00 to $204.00 and gave the company a “buy” rating in a research note on Wednesday, June 26th. Stifel Nicolaus raised their price objective on 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 raised their price objective on 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. raised their price objective on Royal Caribbean Cruises from $175.00 to $210.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, UBS Group raised their price objective on Royal Caribbean Cruises from $154.00 to $168.00 and gave the company a “buy” rating in a research note on Tuesday, May 14th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $172.25.

Insiders Place Their Bets

In other Royal Caribbean Cruises news, CAO Henry L. Pujol sold 9,944 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $141.23, for a total value of $1,404,391.12. Following the completion of the sale, the chief accounting officer now directly owns 16,687 shares in the company, valued at $2,356,705.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Royal Caribbean Cruises news, CAO Henry L. Pujol sold 9,944 shares of the firm’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $141.23, for a total value of $1,404,391.12. Following the completion of the sale, the chief accounting officer now directly owns 16,687 shares in the company, valued at $2,356,705.01. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael W. Bayley sold 24,201 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $140.21, for a total transaction of $3,393,222.21. Following the completion of the sale, the chief executive officer now owns 98,850 shares of the company’s stock, valued at $13,859,758.50. The disclosure for this sale can be found here. Insiders sold 102,884 shares of company stock worth $15,071,485 over the last three months. Company insiders own 7.95% 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.