$2.19 Billion in Sales Expected for Royal Caribbean Cruises Ltd. (RCL) This Quarter
Equities analysts expect Royal Caribbean Cruises Ltd. (NYSE:RCL) to announce sales of $2.19 billion for the current fiscal quarter, Zacks reports. Six analysts have provided estimates for Royal Caribbean Cruises’ earnings, with the lowest sales estimate coming in at $2.14 billion and the highest estimate coming in at $2.22 billion. Royal Caribbean Cruises reported sales of $2.11 billion in the same quarter last year, which indicates a positive year-over-year growth rate of 3.8%. The business is scheduled to issue its next earnings report on Tuesday, August 1st.
On average, analysts expect that Royal Caribbean Cruises will report full year sales of $2.19 billion for the current financial year, with estimates ranging from $8.60 billion to $8.77 billion. For the next year, analysts anticipate that the company will post sales of $9.18 billion per share, with estimates ranging from $9.09 billion to $9.24 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side research analysts that follow Royal Caribbean Cruises.
Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings results on Friday, April 28th. The company reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.92 by $0.07. Royal Caribbean Cruises had a net margin of 16.29% and a return on equity of 15.91%. The business had revenue of $2.01 billion during the quarter, compared to the consensus estimate of $2.02 billion. During the same quarter last year, the firm posted $0.57 EPS. Royal Caribbean Cruises’s revenue was up 4.7% compared to the same quarter last year.
A number of equities research analysts have recently commented on the company. Zacks Investment Research raised Royal Caribbean Cruises from a “hold” rating to a “buy” rating and set a $128.00 target price on the stock in a research note on Thursday. ValuEngine raised Royal Caribbean Cruises from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Wells Fargo & Company reissued an “outperform” rating and issued a $119.50 target price (up from $117.50) on shares of Royal Caribbean Cruises in a research note on Tuesday, May 2nd. Deutsche Bank AG cut their target price on Royal Caribbean Cruises from $102.00 to $91.00 and set a “hold” rating on the stock in a research note on Tuesday, May 2nd. Finally, Goldman Sachs Group, Inc. (The) increased their target price on Royal Caribbean Cruises from $90.00 to $94.00 and gave the stock a “sell” rating in a research note on Monday, May 1st. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and sixteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $102.57.
Royal Caribbean Cruises (NYSE RCL) opened at 111.86 on Friday. The stock has a market capitalization of $24.06 billion, a P/E ratio of 17.29 and a beta of 1.08. The firm’s 50-day moving average is $109.53 and its 200-day moving average is $97.03. Royal Caribbean Cruises has a 12-month low of $64.95 and a 12-month high of $114.50.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 5th. Shareholders of record on Friday, June 2nd will be issued a $0.48 dividend. This represents a $1.92 dividend on an annualized basis and a yield of 1.72%. The ex-dividend date of this dividend is Wednesday, May 31st. Royal Caribbean Cruises’s dividend payout ratio is 29.68%.
In other Royal Caribbean Cruises news, CEO Richard D. Fain sold 20,000 shares of the stock in a transaction dated Monday, May 15th. The stock was sold at an average price of $107.77, for a total value of $2,155,400.00. Following the transaction, the chief executive officer now owns 1,007,741 shares of the company’s stock, valued at $108,604,247.57. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Harri U. Kulovaara sold 7,527 shares of the stock in a transaction dated Monday, May 1st. The shares were sold at an average price of $110.00, for a total value of $827,970.00. Following the completion of the transaction, the executive vice president now directly owns 29,667 shares in the company, valued at approximately $3,263,370. The disclosure for this sale can be found here. In the last three months, insiders sold 47,527 shares of company stock worth $4,881,770. 15.30% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in Royal Caribbean Cruises during the fourth quarter worth $445,000. Kentucky Retirement Systems purchased a new position in Royal Caribbean Cruises during the fourth quarter worth $996,000. Teachers Advisors LLC increased its position in Royal Caribbean Cruises by 8.6% in the fourth quarter. Teachers Advisors LLC now owns 235,140 shares of the company’s stock worth $19,291,000 after buying an additional 18,638 shares in the last quarter. Baltimore Washington Financial Advisors Inc. increased its position in Royal Caribbean Cruises by 8.2% in the fourth quarter. Baltimore Washington Financial Advisors Inc. now owns 65,260 shares of the company’s stock worth $5,353,000 after buying an additional 4,950 shares in the last quarter. Finally, Elkhorn Investments LLC purchased a new position in Royal Caribbean Cruises during the fourth quarter worth $722,000. 71.15% of the stock is currently owned by institutional investors.
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Royal Caribbean Cruises Company Profile
Royal Caribbean Cruises Ltd. is a cruise company. The Company owns and operates three global cruise brands: Royal Caribbean International, Celebrity Cruises and Azamara Club Cruises (Global Brands). The Company also own joint venture interest in the German brand TUI Cruises, interest in the Spanish brand Pullmantur and interest in the Chinese brand SkySea Cruises (collectively, Partner Brands).
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