Royal Caribbean Cruises (NYSE:RCL) Releases Earnings Results, Beats Estimates By $0.15 EPS

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

Royal Caribbean Cruises Stock Performance

Royal Caribbean Cruises stock opened at $208.34 on Thursday. The stock has a fifty day moving average price of $179.29 and a 200 day moving average price of $160.68. Royal Caribbean Cruises has a 52 week low of $83.25 and a 52 week high of $214.12. The firm has a market capitalization of $53.62 billion, a P/E ratio of 22.72, a PEG ratio of 0.58 and a beta of 2.61. The company has a current ratio of 0.19, a quick ratio of 0.17 and a debt-to-equity ratio of 3.20.

Wall Street Analyst Weigh In

Several brokerages have commented on RCL. Susquehanna boosted their target price on shares of Royal Caribbean Cruises from $160.00 to $180.00 and gave the stock a “positive” rating in a research report on Tuesday, July 30th. Citigroup upped their target price on shares of Royal Caribbean Cruises from $253.00 to $257.00 and gave the stock a “buy” rating in a research report on Wednesday. Wells Fargo & Company boosted their price target on Royal Caribbean Cruises from $180.00 to $232.00 and gave the stock an “overweight” rating in a research note on Wednesday. Macquarie lifted their target price on shares of Royal Caribbean Cruises from $189.00 to $250.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, StockNews.com cut shares of Royal Caribbean Cruises from a “hold” rating to a “sell” rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $214.00.

Insiders Place Their Bets

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

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.