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

Royal Caribbean Cruises Ltd. (NYSE:RCL) – Investment analysts at Zacks Research raised their Q2 2024 earnings per share estimates for shares of Royal Caribbean Cruises in a research report issued to clients and investors on Tuesday, April 23rd. Zacks Research analyst S. Singha now anticipates that the company will post earnings per share of $2.40 for the quarter, up from their previous forecast 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 quarterly earnings data on Thursday, February 1st. The company reported $1.25 EPS for the quarter, topping the consensus estimate of $1.13 by $0.12. The business had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.36 billion. Royal Caribbean Cruises had a return on equity of 45.55% and a net margin of 12.22%. The firm’s revenue was up 28.0% compared to the same quarter last year. During the same quarter last year, the business posted ($1.12) EPS.

Several other analysts also recently commented on RCL. Susquehanna raised their price objective on Royal Caribbean Cruises from $120.00 to $150.00 and gave the stock a “positive” rating in a research note on Wednesday, January 31st. Barclays raised their price objective on Royal Caribbean Cruises from $150.00 to $154.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. Macquarie lifted their price target 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. UBS Group lifted their price target on Royal Caribbean Cruises from $148.00 to $154.00 and gave the company a “buy” rating in a research note on Friday, February 16th. Finally, Stifel Nicolaus lifted their price target on Royal Caribbean Cruises from $170.00 to $174.00 and gave the company a “buy” rating in a research note on Thursday, February 22nd. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $136.94.

Royal Caribbean Cruises Stock Performance

Shares of Royal Caribbean Cruises stock opened at $136.67 on Wednesday. The company has a market capitalization of $35.08 billion, a PE ratio of 21.97, a PEG 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 fifty day simple moving average is $128.91 and its 200 day simple moving average is $116.82.

Institutional Trading of Royal Caribbean Cruises

A number of hedge funds and other institutional investors have recently modified their holdings of RCL. BKM Wealth Management LLC acquired a new stake in shares of Royal Caribbean Cruises in the fourth quarter valued at about $26,000. Scarborough Advisors LLC bought a new position in Royal Caribbean Cruises during the fourth quarter worth about $26,000. ST Germain D J Co. Inc. grew its holdings in Royal Caribbean Cruises by 65.0% during the third quarter. ST Germain D J Co. Inc. now owns 330 shares of the company’s stock worth $30,000 after purchasing an additional 130 shares during the period. Creekmur Asset Management LLC bought a new position in Royal Caribbean Cruises during the fourth quarter worth about $30,000. Finally, Turtle Creek Wealth Advisors LLC bought a new position in Royal Caribbean Cruises during the fourth quarter worth about $33,000. Institutional investors and hedge funds own 87.53% of the company’s stock.

Insider Activity at Royal Caribbean Cruises

In related news, CEO Michael W. Bayley sold 11,753 shares of Royal Caribbean Cruises stock in a transaction dated 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 sale, the chief executive officer now owns 166,537 shares of the company’s stock, valued at $19,319,957.37. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 8.70% of the stock is owned by company 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.