Royal Caribbean Cruises (NYSE:RCL) Announces Earnings Results

Royal Caribbean Cruises (NYSE:RCL - Get Free Report) announced its quarterly earnings results on Tuesday. The company reported $5.20 earnings per share (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 for the quarter, compared to analyst estimates of $4.89 billion. The company's revenue was up 17.5% on a year-over-year basis. During the same quarter last year, the firm earned $3.85 EPS.

Royal Caribbean Cruises Price Performance

Shares of NYSE RCL traded up $0.29 during midday trading on Wednesday, hitting $210.39. The company had a trading volume of 1,655,859 shares, compared to its average volume of 2,393,640. The firm has a market capitalization of $54.14 billion, a price-to-earnings ratio of 22.85, a price-to-earnings-growth ratio of 0.58 and a beta of 2.61. The company has a quick ratio of 0.17, a current ratio of 0.19 and a debt-to-equity ratio of 3.20. The business has a 50-day simple moving average of $178.28 and a two-hundred day simple moving average of $160.35. Royal Caribbean Cruises has a twelve month low of $83.25 and a twelve month high of $214.12.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on RCL shares. Tigress Financial lifted their price target on shares of Royal Caribbean Cruises from $155.00 to $210.00 and gave the company a "buy" rating in a research report on Friday, August 2nd. Stifel Nicolaus lifted their target price on shares of Royal Caribbean Cruises from $200.00 to $230.00 and gave the stock a "buy" rating in a research report on Friday, October 11th. Truist Financial upped their target price on shares of Royal Caribbean Cruises from $175.00 to $204.00 and gave the company a "buy" rating in a report on Thursday, September 26th. The Goldman Sachs Group raised their target price on shares of Royal Caribbean Cruises from $170.00 to $195.00 and gave the stock a "buy" rating in a research note on Wednesday, July 17th. Finally, Barclays upped their price target on Royal Caribbean Cruises from $195.00 to $244.00 and gave the stock an "overweight" rating in a research note on Tuesday, October 22nd. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $201.80.

Insider Transactions at Royal Caribbean Cruises

In other news, insider Laura H. Bethge sold 3,073 shares of the company's stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $168.71, for a total transaction of $518,445.83. Following the completion of the sale, the insider now directly owns 27,388 shares in the company, valued at $4,620,629.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, CFO Naftali Holtz bought 5,350 shares of the business's stock in a transaction dated Friday, August 2nd. The shares were bought at an average cost of $140.00 per share, with a total value of $749,000.00. Following the completion of the transaction, the chief financial officer now directly owns 48,256 shares of the company's stock, valued at approximately $6,755,840. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Laura H. Bethge sold 3,073 shares of the firm's stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $168.71, for a total transaction of $518,445.83. Following the sale, the insider now 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. Corporate insiders own 7.95% of the company's stock.

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.

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