Royal Caribbean Cruises Ltd. (NYSE:RCL) Set to Announce Earnings on Tuesday
Royal Caribbean Cruises Ltd. (NYSE:RCL) is scheduled to release its earnings data before the market opens on Tuesday, August 1st. Analysts expect Royal Caribbean Cruises to post earnings of $1.67 per share for the quarter.
Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings data on Friday, April 28th. The company reported $0.99 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.92 by $0.07. The business had revenue of $2.01 billion for the quarter, compared to the consensus estimate of $2.02 billion. Royal Caribbean Cruises had a return on equity of 15.91% and a net margin of 16.29%. The firm’s revenue was up 4.7% compared to the same quarter last year. During the same quarter last year, the business posted $0.57 EPS. On average, analysts expect Royal Caribbean Cruises to post $7.24 EPS for the current fiscal year and $8.23 EPS for the next fiscal year.
Shares of Royal Caribbean Cruises Ltd. (NYSE:RCL) traded down 1.74% during mid-day trading on Thursday, reaching $112.46. The company had a trading volume of 597,526 shares. Royal Caribbean Cruises Ltd. has a one year low of $65.10 and a one year high of $115.63. The firm has a market capitalization of $24.19 billion, a price-to-earnings ratio of 17.38 and a beta of 1.06. The stock has a 50 day moving average of $111.39 and a 200-day moving average of $101.77.
The company 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. The ex-dividend date of this dividend was Wednesday, May 31st. This represents a $1.92 dividend on an annualized basis and a yield of 1.68%. Royal Caribbean Cruises’s dividend payout ratio (DPR) is currently 29.68%.
Royal Caribbean Cruises announced that its Board of Directors has approved a share buyback plan on Friday, April 28th that permits the company to buyback $500.00 million in outstanding shares. This buyback authorization permits the company to buy up to 2.2% of its shares through open market purchases. Shares buyback plans are typically a sign that the company’s management believes its stock is undervalued.
In related news, EVP Harri U. Kulovaara sold 7,527 shares of the company’s 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 sale, the executive vice president now owns 29,667 shares in the company, valued at approximately $3,263,370. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Richard D. Fain sold 20,000 shares of the company’s stock in a transaction dated Thursday, July 13th. The stock was sold at an average price of $109.62, for a total transaction of $2,192,400.00. Following the completion of the sale, the chief executive officer now owns 967,741 shares in the company, valued at approximately $106,083,768.42. The disclosure for this sale can be found here. Insiders sold a total of 47,527 shares of company stock worth $5,175,770 in the last 90 days. 15.30% of the stock is currently owned by company insiders.
A number of analysts have commented on the stock. Zacks Investment Research cut shares of Royal Caribbean Cruises from a “buy” rating to a “hold” rating in a research report on Wednesday, March 29th. Deutsche Bank AG cut their price target on shares of Royal Caribbean Cruises from $102.00 to $91.00 and set a “hold” rating on the stock in a research report on Tuesday, May 2nd. Goldman Sachs Group, Inc. (The) assumed coverage on shares of Royal Caribbean Cruises in a research report on Monday. They set a “neutral” rating on the stock. ValuEngine raised shares of Royal Caribbean Cruises from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Finally, Wells Fargo & Company reaffirmed an “outperform” rating and set a $119.50 price target (up previously from $117.50) on shares of Royal Caribbean Cruises in a research report on Tuesday, May 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seventeen have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $106.19.
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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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