Royal Caribbean Cruises Ltd. (NYSE:RCL) – Research analysts at Wedbush reduced their Q3 2017 earnings per share estimates for Royal Caribbean Cruises in a report released on Tuesday. Wedbush analyst J. Hardiman now expects that the company will post earnings of $3.39 per share for the quarter, down from their previous forecast of $3.45. Wedbush has a “Outperform” rating and a $129.00 price target on the stock. Wedbush also issued estimates for Royal Caribbean Cruises’ FY2017 earnings at $7.36 EPS.

Royal Caribbean Cruises (NYSE:RCL) last announced its earnings results on Tuesday, August 1st. The company reported $1.71 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.67 by $0.04. Royal Caribbean Cruises had a net margin of 17.73% and a return on equity of 16.71%. The company had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.19 billion. During the same quarter in the previous year, the company posted $1.09 EPS. The firm’s quarterly revenue was up 4.3% on a year-over-year basis.

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Several other research analysts have also recently issued reports on RCL. Zacks Investment Research cut Royal Caribbean Cruises from a “buy” rating to a “hold” rating in a research report on Wednesday. BidaskClub cut Royal Caribbean Cruises from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. UBS AG reiterated a “buy” rating and issued a $131.00 price objective (up previously from $112.00) on shares of Royal Caribbean Cruises in a research report on Tuesday, August 8th. Buckingham Research increased their price objective on Royal Caribbean Cruises to $149.00 and gave the stock a “buy” rating in a research report on Wednesday, August 2nd. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $134.00 price objective on shares of Royal Caribbean Cruises in a research report on Thursday, August 3rd. Two investment analysts have rated the stock with a sell rating, three have given a hold rating, sixteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $118.44.

Shares of Royal Caribbean Cruises (NYSE RCL) opened at 122.19 on Thursday. Royal Caribbean Cruises has a 52 week low of $65.45 and a 52 week high of $125.00. The firm has a market cap of $26.28 billion, a PE ratio of 17.14 and a beta of 1.03. The firm’s 50-day moving average is $119.04 and its 200 day moving average is $108.35.

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 11th. Investors of record on Friday, September 22nd will be paid a dividend of $0.60 per share. The ex-dividend date of this dividend is Thursday, September 21st. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.96%. This is a positive change from Royal Caribbean Cruises’s previous quarterly dividend of $0.48. Royal Caribbean Cruises’s dividend payout ratio (DPR) is presently 26.97%.

In related news, CEO Richard D. Fain sold 20,000 shares of the stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $121.29, for a total transaction of $2,425,800.00. Following the sale, the chief executive officer now owns 927,741 shares of the company’s stock, valued at $112,525,705.89. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Richard D. Fain sold 210,706 shares of the stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $115.83, for a total value of $24,406,075.98. Following the sale, the chief executive officer now directly owns 967,741 shares in the company, valued at approximately $112,093,440.03. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 480,079 shares of company stock worth $56,139,855. Corporate insiders own 15.30% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of RCL. TLP Group LLC acquired a new stake in shares of Royal Caribbean Cruises during the second quarter valued at $105,000. NEXT Financial Group Inc lifted its position in Royal Caribbean Cruises by 25.0% during the first quarter. NEXT Financial Group Inc now owns 1,000 shares of the company’s stock worth $107,000 after buying an additional 200 shares during the period. Acrospire Investment Management LLC lifted its position in Royal Caribbean Cruises by 25.0% during the second quarter. Acrospire Investment Management LLC now owns 1,000 shares of the company’s stock worth $109,000 after buying an additional 200 shares during the period. Oppenheimer Asset Management Inc. purchased a new position in Royal Caribbean Cruises during the first quarter worth about $119,000. Finally, Pinebridge Investments L.P. purchased a new position in Royal Caribbean Cruises during the second quarter worth about $121,000. 71.60% of the stock is currently owned by institutional investors and hedge funds.

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).

Earnings History and Estimates for Royal Caribbean Cruises (NYSE:RCL)

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