Royal Caribbean Cruises (NYSE:RCL) Issues Quarterly Earnings Results

Royal Caribbean Cruises (NYSE:RCL) released its earnings results on Tuesday. The company reported $5.20 EPS for the quarter, topping analysts’ consensus estimates of $5.05 by $0.15, Briefing.com reports. Royal Caribbean Cruises had a net margin of 16.32% and a return on equity of 52.49%. The business had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $4.89 billion. During the same quarter in the previous year, the company earned $3.85 earnings per share. The company’s quarterly revenue was up 17.5% on a year-over-year basis.

Royal Caribbean Cruises Trading Down 0.8 %

Shares of Royal Caribbean Cruises stock opened at $208.34 on Thursday. The company has a fifty day simple moving average of $179.29 and a 200-day simple moving average of $160.68. Royal Caribbean Cruises has a 12-month low of $83.25 and a 12-month high of $214.12. The company has a current ratio of 0.19, a quick ratio of 0.17 and a debt-to-equity ratio of 3.20. The stock has a market cap of $53.62 billion, a price-to-earnings ratio of 22.72, a PEG ratio of 0.58 and a beta of 2.61.

Insider Activity at Royal Caribbean Cruises

In other news, insider Laura H. Bethge sold 3,073 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $168.71, for a total value of $518,445.83. Following the completion of the sale, the insider now directly owns 27,388 shares of the company’s stock, valued at approximately $4,620,629.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Vagn O. Sorensen sold 5,800 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $158.50, for a total transaction of $919,300.00. Following the transaction, the director now owns 25,837 shares of the company’s stock, valued at $4,095,164.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Laura H. Bethge sold 3,073 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $168.71, for a total value of $518,445.83. Following the sale, the insider now directly owns 27,388 shares of the company’s stock, valued at approximately $4,620,629.48. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.95% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. JPMorgan Chase & Co. increased their price objective on Royal Caribbean Cruises from $213.00 to $243.00 and gave the stock an “overweight” rating in a research report on Tuesday. Macquarie boosted their price objective on shares of Royal Caribbean Cruises from $189.00 to $250.00 and gave the company an “outperform” rating in a report on Wednesday. Stifel Nicolaus lifted their price target on shares of Royal Caribbean Cruises from $200.00 to $230.00 and gave the company a “buy” rating in a research report on Friday, October 11th. Wells Fargo & Company upped their price objective on shares of Royal Caribbean Cruises from $180.00 to $232.00 and gave the stock an “overweight” rating in a report on Wednesday. Finally, Morgan Stanley lifted their target price on shares of Royal Caribbean Cruises from $140.00 to $154.00 and gave the company an “equal weight” rating in a report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $214.00.

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.