Royal Caribbean Cruises (NYSE:RCL) Trading Up 4.4% After Better-Than-Expected Earnings

Royal Caribbean Cruises Ltd. (NYSE:RCLGet Free Report)’s share price was up 4.4% on Tuesday after the company announced better than expected quarterly earnings. The company traded as high as $214.12 and last traded at $212.53. Approximately 1,938,642 shares changed hands during trading, a decline of 19% from the average daily volume of 2,387,305 shares. The stock had previously closed at $203.52.

The company reported $5.20 EPS for the quarter, beating analysts’ consensus estimates of $5.05 by $0.15. Royal Caribbean Cruises had a return on equity of 52.49% and a net margin of 16.32%. The business had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $4.89 billion. During the same quarter in the prior year, the firm earned $3.85 earnings per share. The firm’s revenue was up 17.5% on a year-over-year basis.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the company. Morgan Stanley raised their price objective on Royal Caribbean Cruises from $140.00 to $154.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 7th. Barclays raised their price objective on Royal Caribbean Cruises from $244.00 to $245.00 and gave the company an “overweight” rating in a research note on Wednesday. Susquehanna increased their target price on shares of Royal Caribbean Cruises from $160.00 to $180.00 and gave the stock a “positive” rating in a report on Tuesday, July 30th. Citigroup increased their target price on shares of Royal Caribbean Cruises from $253.00 to $257.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Wells Fargo & Company increased their target price on shares of Royal Caribbean Cruises from $180.00 to $232.00 and gave the stock an “overweight” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $214.00.

Check Out Our Latest Analysis on RCL

Insider Activity

In other news, insider Laura H. Bethge sold 3,073 shares of Royal Caribbean Cruises stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $168.71, for a total transaction of $518,445.83. Following the completion of the transaction, the insider now directly owns 27,388 shares in the company, valued at approximately $4,620,629.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Laura H. Bethge sold 3,073 shares of Royal Caribbean Cruises stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $168.71, for a total transaction of $518,445.83. Following the completion of the transaction, the insider now directly owns 27,388 shares in the company, valued at approximately $4,620,629.48. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Naftali Holtz bought 5,350 shares of the stock in a transaction dated Friday, August 2nd. The shares were acquired at an average price of $140.00 per share, with a total value of $749,000.00. Following the completion of the acquisition, the chief financial officer now directly owns 48,256 shares of the company’s stock, valued at approximately $6,755,840. The trade was a 0.00 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 7.95% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Capital International Investors boosted its stake in shares of Royal Caribbean Cruises by 1.0% during the 1st quarter. Capital International Investors now owns 29,596,455 shares of the company’s stock worth $4,114,203,000 after acquiring an additional 286,868 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Royal Caribbean Cruises by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 25,409,272 shares of the company’s stock valued at $3,532,143,000 after buying an additional 132,079 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Royal Caribbean Cruises by 24.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,048,501 shares of the company’s stock valued at $326,616,000 after buying an additional 400,565 shares in the last quarter. D1 Capital Partners L.P. lifted its stake in shares of Royal Caribbean Cruises by 105.7% during the 2nd quarter. D1 Capital Partners L.P. now owns 1,512,103 shares of the company’s stock valued at $241,075,000 after buying an additional 777,103 shares in the last quarter. Finally, Capital International Inc. CA lifted its stake in shares of Royal Caribbean Cruises by 3.3% during the 1st quarter. Capital International Inc. CA now owns 601,917 shares of the company’s stock valued at $83,672,000 after buying an additional 19,065 shares in the last quarter. Hedge funds and other institutional investors own 87.53% of the company’s stock.

Royal Caribbean Cruises Stock Performance

The company has a current ratio of 0.19, a quick ratio of 0.17 and a debt-to-equity ratio of 3.20. The business’s 50 day moving average is $179.29 and its two-hundred day moving average is $160.68. The company has a market cap of $53.62 billion, a PE ratio of 22.72, a PEG ratio of 0.58 and a beta of 2.61.

Royal Caribbean Cruises Company Profile

(Get Free Report)

Royal Caribbean Cruises Ltd. operates as a cruise company worldwide. The company operates cruises under the Royal Caribbean International, Celebrity Cruises, and Silversea Cruises brands, which comprise a range of itineraries. As of February 21, 2024, it operated 65 ships. Royal Caribbean Cruises Ltd.

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