Royal Caribbean Cruises Ltd. Expected to Earn Q2 2024 Earnings of $2.40 Per Share (NYSE:RCL)

Royal Caribbean Cruises Ltd. (NYSE:RCL) – Equities researchers at Zacks Research lifted their Q2 2024 earnings per share estimates for shares of Royal Caribbean Cruises in a research report issued on Tuesday, April 23rd. Zacks Research analyst S. Singha now expects that the company will post earnings per share of $2.40 for the quarter, up from their previous estimate of $2.38. The consensus estimate for Royal Caribbean Cruises’ current full-year earnings is $9.99 per share.

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

Several other analysts also recently weighed in on the company. Morgan Stanley lifted their target price on Royal Caribbean Cruises from $100.00 to $115.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 7th. Wells Fargo & Company lifted their target price on Royal Caribbean Cruises from $151.00 to $153.00 and gave the company an “overweight” rating in a research note on Monday, February 26th. Macquarie lifted their target price on Royal Caribbean Cruises from $145.00 to $160.00 and gave the company an “outperform” rating in a research note on Friday, March 15th. Susquehanna lifted their target price on Royal Caribbean Cruises from $120.00 to $150.00 and gave the company a “positive” rating in a research note on Wednesday, January 31st. Finally, Barclays lifted their target price on Royal Caribbean Cruises from $150.00 to $154.00 and gave the company an “overweight” rating in a research note on Thursday, April 11th. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Royal Caribbean Cruises has a consensus rating of “Moderate Buy” and a consensus price target of $136.94.

Royal Caribbean Cruises Trading Up 3.5 %

Shares of NYSE RCL opened at $136.67 on Wednesday. The company has a market cap of $35.08 billion, a price-to-earnings ratio of 21.97, a price-to-earnings-growth ratio of 0.48 and a beta of 2.52. Royal Caribbean Cruises has a 12-month low of $59.37 and a 12-month high of $141.70. The company has a current ratio of 0.19, a quick ratio of 0.16 and a debt-to-equity ratio of 4.03. The stock’s 50 day simple moving average is $128.91 and its 200 day simple moving average is $116.82.

Insider Buying and Selling

In related news, CEO Michael W. Bayley sold 11,753 shares of Royal Caribbean Cruises 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 transaction, the chief executive officer now directly owns 166,537 shares in the company, valued at approximately $19,319,957.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 8.70% of the company’s stock.

Hedge Funds Weigh In On Royal Caribbean Cruises

A number of hedge funds have recently modified their holdings of RCL. Capital International Investors grew its holdings in shares of Royal Caribbean Cruises by 1.2% during the fourth quarter. Capital International Investors now owns 29,309,587 shares of the company’s stock valued at $3,795,368,000 after buying an additional 351,747 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Royal Caribbean Cruises by 1.4% during the fourth quarter. Vanguard Group Inc. now owns 25,277,193 shares of the company’s stock valued at $3,273,144,000 after buying an additional 359,770 shares in the last quarter. Norges Bank purchased a new position in shares of Royal Caribbean Cruises during the fourth quarter valued at $323,251,000. Northern Trust Corp grew its holdings in shares of Royal Caribbean Cruises by 6.8% during the third quarter. Northern Trust Corp now owns 2,335,667 shares of the company’s stock valued at $215,208,000 after buying an additional 148,532 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Royal Caribbean Cruises by 0.7% during the third quarter. Bank of New York Mellon Corp now owns 1,533,566 shares of the company’s stock valued at $141,303,000 after buying an additional 10,095 shares in the last quarter. 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.