Brokerages Anticipate Royal Caribbean Cruises Ltd. (RCL) Will Announce Quarterly Sales of $2.19 Billion
Analysts forecast that Royal Caribbean Cruises Ltd. (NYSE:RCL) will announce $2.19 billion in sales for the current quarter, according to Zacks. Six analysts have issued 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 posted sales of $2.11 billion in the same quarter last year, which suggests a positive year over year growth rate of 3.8%. The firm is scheduled to announce its next earnings results on Tuesday, August 1st.
According to Zacks, analysts expect that Royal Caribbean Cruises will report full year sales of $2.19 billion for the current fiscal year, with estimates ranging from $8.60 billion to $8.77 billion. For the next financial year, analysts expect that the business will report sales of $9.18 billion per share, with estimates ranging from $9.09 billion to $9.24 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Royal Caribbean Cruises.
Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings results on Friday, April 28th. The company reported $0.99 EPS for the quarter, beating the Zacks’ consensus estimate of $0.92 by $0.07. Royal Caribbean Cruises had a return on equity of 15.91% and a net margin of 16.29%. The firm had revenue of $2.01 billion for the quarter, compared to analyst estimates of $2.02 billion. During the same period last year, the firm posted $0.57 earnings per share. The business’s revenue for the quarter was up 4.7% on a year-over-year basis.
Several brokerages recently weighed in on RCL. Deutsche Bank AG dropped their target price on Royal Caribbean Cruises from $102.00 to $91.00 and set a “hold” rating for the company in a report on Tuesday, May 2nd. Stifel Nicolaus increased their target price on Royal Caribbean Cruises from $115.00 to $125.00 and gave the company a “buy” rating in a report on Monday, May 1st. J P Morgan Chase & Co upgraded Royal Caribbean Cruises from a “neutral” rating to an “overweight” rating in a report on Thursday. Zacks Investment Research upgraded Royal Caribbean Cruises from a “hold” rating to a “buy” rating and set a $123.00 target price for the company in a report on Wednesday, June 14th. Finally, Wedbush increased their target price on Royal Caribbean Cruises from $106.00 to $117.00 and gave the company an “outperform” rating in a report on Tuesday, April 25th. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and sixteen have given a buy rating to the stock. Royal Caribbean Cruises has a consensus rating of “Buy” and an average price target of $102.57.
In other news, EVP Harri U. Kulovaara sold 7,527 shares of the stock in a transaction that occurred on Monday, May 1st. The stock was 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 owns 29,667 shares of the company’s stock, valued at approximately $3,263,370. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Richard D. Fain sold 20,000 shares of the stock in a transaction that occurred on Thursday, July 13th. The stock was sold at an average price of $109.62, for a total value of $2,192,400.00. Following the completion of the transaction, the chief executive officer now directly owns 967,741 shares of the company’s stock, valued at approximately $106,083,768.42. The disclosure for this sale can be found here. Insiders have sold a total of 47,527 shares of company stock valued at $5,175,770 in the last ninety days. 15.30% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in RCL. Quantitative Systematic Strategies LLC boosted its stake in shares of Royal Caribbean Cruises by 48.3% in the first quarter. Quantitative Systematic Strategies LLC now owns 22,677 shares of the company’s stock worth $2,225,000 after buying an additional 7,384 shares during the period. Bank of The West boosted its stake in shares of Royal Caribbean Cruises by 0.7% in the first quarter. Bank of The West now owns 34,275 shares of the company’s stock worth $3,363,000 after buying an additional 222 shares during the period. Americafirst Capital Management LLC bought a new stake in shares of Royal Caribbean Cruises during the first quarter worth approximately $337,000. Teachers Advisors LLC boosted its stake in shares of 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 during the period. Finally, Regent Investment Management LLC boosted its stake in shares of Royal Caribbean Cruises by 65.8% in the first quarter. Regent Investment Management LLC now owns 12,485 shares of the company’s stock worth $1,225,000 after buying an additional 4,955 shares during the period. 71.14% of the stock is owned by hedge funds and other institutional investors.
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Royal Caribbean Cruises (NYSE:RCL) opened at 112.56 on Thursday. The company has a market capitalization of $24.21 billion, a P/E ratio of 17.40 and a beta of 1.06. The stock’s 50 day moving average price is $110.94 and its 200-day moving average price is $100.78. Royal Caribbean Cruises has a 12 month low of $65.10 and a 12 month high of $115.63.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 5th. Shareholders of record on Friday, June 2nd were given a dividend of $0.48 per share. This represents a $1.92 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date was Wednesday, May 31st. Royal Caribbean Cruises’s payout ratio is 29.68%.
Royal Caribbean Cruises declared that its board has approved a share repurchase plan on Friday, April 28th that allows the company to buyback $500.00 million in shares. This buyback authorization allows the company to reacquire up to 2.2% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.
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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