Analysts Expect Royal Caribbean Cruises Ltd. (RCL) Will Post Quarterly Sales of $2.58 Billion
Wall Street analysts expect Royal Caribbean Cruises Ltd. (NYSE:RCL) to post sales of $2.58 billion for the current fiscal quarter, Zacks reports. Six analysts have issued estimates for Royal Caribbean Cruises’ earnings, with the lowest sales estimate coming in at $2.56 billion and the highest estimate coming in at $2.61 billion. Royal Caribbean Cruises reported sales of $2.56 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 0.8%. The firm is scheduled to issue its next earnings report on Friday, October 27th.
According to Zacks, analysts expect that Royal Caribbean Cruises will report full-year sales of $2.58 billion for the current year, with estimates ranging from $8.71 billion to $8.80 billion. For the next year, analysts forecast that the business will post sales of $9.30 billion per share, with estimates ranging from $9.21 billion to $9.35 billion. Zacks’ sales averages are a mean average based on a survey of sell-side research analysts that cover Royal Caribbean Cruises.
Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings data on Tuesday, August 1st. The company reported $1.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.67 by $0.04. The company had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.19 billion. Royal Caribbean Cruises had a net margin of 17.73% and a return on equity of 16.71%. The firm’s revenue was up 4.3% compared to the same quarter last year. During the same quarter last year, the firm posted $1.09 earnings per share.
A number of equities research analysts have recently commented on the stock. SunTrust Banks, Inc. reaffirmed a “buy” rating and set a $126.00 price objective on shares of Royal Caribbean Cruises in a research note on Sunday, October 15th. BidaskClub cut shares of Royal Caribbean Cruises from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. UBS AG reaffirmed a “buy” rating and set a $131.00 price objective (up previously from $112.00) on shares of Royal Caribbean Cruises in a research note on Tuesday, August 8th. Buckingham Research raised their price objective on shares of Royal Caribbean Cruises to $149.00 and gave the stock a “buy” rating in a research note on Wednesday, August 2nd. Finally, Zacks Investment Research cut shares of Royal Caribbean Cruises from a “buy” rating to a “hold” rating in a research note on Tuesday, September 26th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $123.04.
In other Royal Caribbean Cruises news, EVP Harri U. Kulovaara sold 7,580 shares of the firm’s stock in a transaction on Monday, August 14th. The stock was sold at an average price of $119.61, for a total value of $906,643.80. Following the transaction, the executive vice president now owns 23,493 shares in the company, valued at approximately $2,809,997.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Richard D. Fain sold 210,706 shares of the firm’s 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 completion of the transaction, the chief executive officer now owns 967,741 shares in the company, valued at approximately $112,093,440.03. The disclosure for this sale can be found here. Insiders sold a total of 480,079 shares of company stock worth $56,461,455 in the last 90 days. 15.30% of the stock is currently owned by insiders.
A number of hedge funds have recently made changes to their positions in RCL. Vanguard Group Inc. lifted its holdings in Royal Caribbean Cruises by 4.1% in the 2nd quarter. Vanguard Group Inc. now owns 17,178,558 shares of the company’s stock valued at $1,876,413,000 after purchasing an additional 673,608 shares in the last quarter. PNC Financial Services Group Inc. lifted its holdings in Royal Caribbean Cruises by 1,754.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 684,387 shares of the company’s stock valued at $74,756,000 after purchasing an additional 647,483 shares in the last quarter. Capital Growth Management LP purchased a new position in Royal Caribbean Cruises in the 2nd quarter valued at $61,933,000. American Century Companies Inc. lifted its holdings in Royal Caribbean Cruises by 9,025.9% in the 2nd quarter. American Century Companies Inc. now owns 531,677 shares of the company’s stock valued at $58,075,000 after purchasing an additional 525,851 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D purchased a new position in Royal Caribbean Cruises in the 2nd quarter valued at $55,926,000. Institutional investors own 71.49% of the company’s stock.
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Royal Caribbean Cruises (NYSE RCL) opened at 120.71 on Monday. The firm’s 50-day moving average is $120.86 and its 200 day moving average is $112.95. The stock has a market cap of $25.97 billion, a P/E ratio of 16.93 and a beta of 0.99. Royal Caribbean Cruises has a one year low of $67.53 and a one year high of $128.09.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 11th. Stockholders of record on Friday, September 22nd were given a dividend of $0.60 per share. This is a positive change from Royal Caribbean Cruises’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend was Thursday, September 21st. This represents a $2.40 dividend on an annualized basis and a dividend yield of 1.99%. Royal Caribbean Cruises’s dividend payout ratio (DPR) is 33.71%.
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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