Royal Caribbean Cruises (NYSE:RCL) Announces Quarterly Earnings Results, Beats Estimates By $0.44 EPS

Royal Caribbean Cruises (NYSE:RCL) posted its quarterly earnings data on Thursday. The company reported $1.77 EPS for the quarter, beating the consensus estimate of $1.33 by $0.44, Briefing.com reports. Royal Caribbean Cruises had a return on equity of 45.55% and a net margin of 12.22%. The business had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.69 billion. During the same quarter in the prior year, the business earned ($0.23) earnings per share. Royal Caribbean Cruises’s revenue for the quarter was up 29.2% on a year-over-year basis.

Royal Caribbean Cruises Price Performance

NYSE:RCL traded up $2.39 during midday trading on Friday, hitting $139.86. The company had a trading volume of 1,668,810 shares, compared to its average volume of 2,770,885. Royal Caribbean Cruises has a 52-week low of $59.38 and a 52-week high of $141.70. The stock’s fifty day moving average price is $129.71 and its 200-day moving average price is $117.11. The company has a market capitalization of $35.90 billion, a PE ratio of 22.31, a P/E/G ratio of 0.50 and a beta of 2.52. The company has a quick ratio of 0.16, a current ratio of 0.19 and a debt-to-equity ratio of 4.03.

Insider Buying and Selling

In other Royal Caribbean Cruises news, CEO Michael W. Bayley sold 11,753 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $116.01, for a total transaction of $1,363,465.53. Following the completion of the sale, the chief executive officer now directly owns 166,537 shares in the company, valued at $19,319,957.37. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 8.70% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Wells Fargo & Company upped their price objective 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. Susquehanna boosted their target price on shares of Royal Caribbean Cruises from $150.00 to $160.00 and gave the company a “positive” rating in a report on Friday. UBS Group upped their price target on shares of Royal Caribbean Cruises from $148.00 to $154.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Mizuho upped their price target on shares of Royal Caribbean Cruises from $164.00 to $168.00 and gave the stock a “buy” rating in a report on Friday. Finally, Stifel Nicolaus upped their price target on shares of Royal Caribbean Cruises from $170.00 to $174.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $138.41.

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.