William Blair Analysts Boost Earnings Estimates for Royal Caribbean Cruises Ltd. (NYSE:RCL)

Royal Caribbean Cruises Ltd. (NYSE:RCL) – Stock analysts at William Blair upped their Q3 2024 earnings per share (EPS) estimates for Royal Caribbean Cruises in a note issued to investors on Tuesday, July 30th. William Blair analyst S. Zackfia now forecasts that the company will post earnings per share of $5.03 for the quarter, up from their previous forecast of $5.00. The consensus estimate for Royal Caribbean Cruises’ current full-year earnings is $11.60 per share. William Blair also issued estimates for Royal Caribbean Cruises’ FY2024 earnings at $11.53 EPS, FY2025 earnings at $13.99 EPS and FY2026 earnings at $17.39 EPS.

Several other research analysts have also recently weighed in on RCL. UBS Group raised their target price on Royal Caribbean Cruises from $168.00 to $183.00 and gave the company a “buy” rating in a research note on Wednesday. Mizuho raised their target price on Royal Caribbean Cruises from $168.00 to $195.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Susquehanna raised their target price on Royal Caribbean Cruises from $160.00 to $180.00 and gave the company a “positive” rating in a research note on Tuesday. Truist Financial raised their target price on Royal Caribbean Cruises from $151.00 to $175.00 and gave the company a “buy” rating in a research note on Wednesday, May 29th. Finally, Citigroup raised their target price 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. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, Royal Caribbean Cruises presently has an average rating of “Moderate Buy” and an average price target of $176.25.

Royal Caribbean Cruises Trading Down 5.5 %

NYSE:RCL opened at $148.09 on Wednesday. Royal Caribbean Cruises has a 1 year low of $78.35 and a 1 year high of $173.37. The stock has a market cap of $38.11 billion, a price-to-earnings ratio of 19.08, a PEG ratio of 0.44 and a beta of 2.62. The business has a fifty day moving average of $156.82 and a 200-day moving average of $139.71. The company has a debt-to-equity ratio of 3.20, a quick ratio of 0.17 and a current ratio of 0.19.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings results on Thursday, July 25th. The company reported $3.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.76 by $0.45. Royal Caribbean Cruises had a return on equity of 52.49% and a net margin of 16.32%. The company had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.05 billion. During the same quarter in the prior year, the business posted $1.82 earnings per share. The company’s revenue for the quarter was up 16.4% compared to the same quarter last year.

Royal Caribbean Cruises Dividend Announcement

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

Insider Activity

In other news, CEO Michael W. Bayley sold 49,155 shares of the stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $147.67, for a total transaction of $7,258,718.85. Following the transaction, the chief executive officer now owns 49,695 shares of the company’s stock, valued at approximately $7,338,460.65. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Richard D. Fain 19,338 shares of Royal Caribbean Cruises stock in a transaction on Tuesday, July 30th. The was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael W. Bayley sold 49,155 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $147.67, for a total value of $7,258,718.85. Following the completion of the sale, the chief executive officer now directly owns 49,695 shares in the company, valued at approximately $7,338,460.65. The disclosure for this sale can be found here. In the last quarter, insiders have sold 92,940 shares of company stock valued at $13,667,094. Insiders own 7.95% of the company’s stock.

Institutional Trading of Royal Caribbean Cruises

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in RCL. Scarborough Advisors LLC bought a new stake in shares of Royal Caribbean Cruises in the 4th quarter worth approximately $26,000. Unique Wealth Strategies LLC bought a new stake in shares of Royal Caribbean Cruises in the 2nd quarter worth approximately $27,000. Creekmur Asset Management LLC bought a new stake in shares of Royal Caribbean Cruises in the 4th quarter worth approximately $30,000. Versant Capital Management Inc lifted its position in shares of Royal Caribbean Cruises by 905.3% in the 2nd quarter. Versant Capital Management Inc now owns 191 shares of the company’s stock worth $30,000 after acquiring an additional 172 shares during the period. Finally, AlphaMark Advisors LLC lifted its position in shares of Royal Caribbean Cruises by 233.3% in the 2nd quarter. AlphaMark Advisors LLC now owns 200 shares of the company’s stock worth $32,000 after acquiring an additional 140 shares during the period. Institutional investors and hedge funds own 87.53% 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.