Royal Caribbean Cruises Ltd. (NYSE:RCL) Forecasted to Earn Q1 2024 Earnings of $1.37 Per Share

Royal Caribbean Cruises Ltd. (NYSE:RCL) – Research analysts at William Blair upped their Q1 2024 earnings per share (EPS) estimates for Royal Caribbean Cruises in a note issued to investors on Wednesday, April 17th. William Blair analyst S. Zackfia now expects that the company will earn $1.37 per share for the quarter, up from their prior estimate of $1.35. The consensus estimate for Royal Caribbean Cruises’ current full-year earnings is $10.01 per share.

Several other research firms have also issued reports on RCL. Wells Fargo & Company increased their price objective on Royal Caribbean Cruises from $151.00 to $153.00 and gave the stock an “overweight” rating in a research note on Monday, February 26th. UBS Group lifted their price target on shares of Royal Caribbean Cruises from $148.00 to $154.00 and gave the company a “buy” rating in a report on Friday, February 16th. Barclays upped their price objective on shares of Royal Caribbean Cruises from $150.00 to $154.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Susquehanna raised their price objective on shares of Royal Caribbean Cruises from $120.00 to $150.00 and gave the stock a “positive” rating in a report on Wednesday, January 31st. Finally, Mizuho initiated coverage on Royal Caribbean Cruises in a report on Wednesday, April 17th. They issued a “buy” rating and a $164.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $136.94.

Royal Caribbean Cruises Price Performance

Royal Caribbean Cruises stock opened at $132.04 on Monday. The business has a 50 day simple moving average of $128.51 and a 200 day simple moving average of $116.50. The company has a debt-to-equity ratio of 4.03, a current ratio of 0.19 and a quick ratio of 0.16. The company has a market capitalization of $33.89 billion, a PE ratio of 21.23, a price-to-earnings-growth ratio of 0.47 and a beta of 2.52. Royal Caribbean Cruises has a one year low of $59.37 and a one year high of $141.70.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings data on Thursday, February 1st. The company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.12. The company had revenue of $3.33 billion during the quarter, compared to the consensus estimate of $3.36 billion. Royal Caribbean Cruises had a net margin of 12.22% and a return on equity of 45.55%. The firm’s revenue for the quarter was up 28.0% compared to the same quarter last year. During the same period last year, the firm earned ($1.12) EPS.

Insider Transactions at Royal Caribbean Cruises

In related news, CEO Michael W. Bayley sold 11,753 shares of the stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $116.01, for a total value of $1,363,465.53. Following the transaction, the chief executive officer now directly owns 166,537 shares in the company, valued at $19,319,957.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 8.70% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Royal Caribbean Cruises

Several hedge funds have recently bought and sold shares of RCL. BKM Wealth Management LLC acquired a new stake in Royal Caribbean Cruises during the 4th quarter worth approximately $26,000. Scarborough Advisors LLC acquired a new stake in shares of Royal Caribbean Cruises during the fourth quarter worth $26,000. ST Germain D J Co. Inc. lifted its position in Royal Caribbean Cruises by 65.0% in the 3rd quarter. ST Germain D J Co. Inc. now owns 330 shares of the company’s stock valued at $30,000 after acquiring an additional 130 shares in the last quarter. Creekmur Asset Management LLC bought a new stake in Royal Caribbean Cruises in the 4th quarter valued at $30,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new position in Royal Caribbean Cruises in the 4th quarter worth $33,000. 87.53% of the stock is currently owned by institutional investors and hedge funds.

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.