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

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

Royal Caribbean Cruises Stock Down 0.8 %

Shares of RCL stock traded down $1.76 on Wednesday, reaching $208.34. 3,411,047 shares of the stock were exchanged, compared to its average volume of 2,402,592. Royal Caribbean Cruises has a twelve month low of $83.25 and a twelve 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 company has a market capitalization of $53.62 billion, a price-to-earnings ratio of 22.72, a PEG ratio of 0.58 and a beta of 2.61. The business's 50 day moving average price is $179.29 and its 200 day moving average price is $160.68.

Insiders Place Their Bets

In other news, insider Laura H. Bethge sold 3,073 shares of the 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 transaction, the insider now owns 27,388 shares in the company, valued at approximately $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 can be accessed through this link. In other news, insider Laura H. Bethge sold 3,073 shares of the company's stock in a transaction 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 transaction, the insider now owns 27,388 shares in the company, valued at approximately $4,620,629.48. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Vagn O. Sorensen sold 5,800 shares of Royal Caribbean Cruises stock in a transaction 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 sale, the director now owns 25,837 shares in the company, valued at $4,095,164.50. 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 company insiders.

Analyst Ratings Changes

RCL has been the topic of a number of research analyst reports. Morgan Stanley boosted their price target on shares of Royal Caribbean Cruises from $140.00 to $154.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 7th. Wells Fargo & Company boosted their target price on Royal Caribbean Cruises from $180.00 to $232.00 and gave the company an "overweight" rating in a research report on Wednesday. The Goldman Sachs Group raised their price target on Royal Caribbean Cruises from $220.00 to $245.00 and gave the stock a "buy" rating in a research report on Wednesday. Truist Financial boosted their price objective on Royal Caribbean Cruises from $175.00 to $204.00 and gave the company a "buy" rating in a report on Thursday, September 26th. Finally, Barclays raised their target price on Royal Caribbean Cruises from $244.00 to $245.00 and gave the company an "overweight" rating in a report on Wednesday. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price 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.