Equities research analysts expect that Royal Caribbean Cruises Ltd (NYSE:RCL) will post sales of $2.82 billion for the current quarter, Zacks reports. Seven analysts have issued estimates for Royal Caribbean Cruises’ earnings. The lowest sales estimate is $2.78 billion and the highest is $2.84 billion. Royal Caribbean Cruises posted sales of $2.57 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 9.7%. The business is expected to announce its next earnings report on Tuesday, November 6th.
According to Zacks, analysts expect that Royal Caribbean Cruises will report full year sales of $9.41 billion for the current financial year, with estimates ranging from $9.36 billion to $9.44 billion. For the next financial year, analysts forecast that the company will post sales of $10.37 billion per share, with estimates ranging from $10.12 billion to $10.82 billion. Zacks’ sales calculations are a mean average based on a survey of research firms that follow Royal Caribbean Cruises.
Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings results on Thursday, August 2nd. The company reported $2.27 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.97 by $0.30. The company had revenue of $2.34 billion for the quarter, compared to the consensus estimate of $2.34 billion. Royal Caribbean Cruises had a return on equity of 16.50% and a net margin of 19.31%. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.71 EPS.
RCL has been the topic of several research analyst reports. Citigroup dropped their price objective on Royal Caribbean Cruises from $138.00 to $136.00 and set a “buy” rating on the stock in a research note on Friday, August 17th. Barclays initiated coverage on Royal Caribbean Cruises in a research note on Friday, August 3rd. They set an “overweight” rating on the stock. Morgan Stanley raised their price objective on Royal Caribbean Cruises from $110.00 to $120.00 and gave the stock a “hold” rating in a research note on Thursday, September 6th. ValuEngine raised Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a research note on Thursday, July 19th. Finally, Deutsche Bank raised Royal Caribbean Cruises from a “hold” rating to a “buy” rating and raised their price objective for the stock from $135.00 to $146.00 in a research note on Wednesday, August 29th. Five research analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $139.73.
Shares of RCL stock traded down $0.34 during trading hours on Tuesday, reaching $131.80. The company had a trading volume of 39,957 shares, compared to its average volume of 1,486,580. The company has a quick ratio of 0.18, a current ratio of 0.20 and a debt-to-equity ratio of 0.68. The company has a market cap of $27.43 billion, a P/E ratio of 17.59, a price-to-earnings-growth ratio of 0.93 and a beta of 1.18. Royal Caribbean Cruises has a 1-year low of $101.20 and a 1-year high of $135.65.
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 11th. Shareholders of record on Friday, September 21st will be issued a dividend of $0.70 per share. This represents a $2.80 dividend on an annualized basis and a yield of 2.12%. The ex-dividend date is Thursday, September 20th. This is a boost from Royal Caribbean Cruises’s previous quarterly dividend of $0.60. Royal Caribbean Cruises’s dividend payout ratio is 31.87%.
In other Royal Caribbean Cruises news, EVP Harri U. Kulovaara sold 6,600 shares of the stock in a transaction dated Thursday, September 13th. The stock was sold at an average price of $125.55, for a total transaction of $828,630.00. Following the completion of the transaction, the executive vice president now owns 26,165 shares in the company, valued at approximately $3,285,015.75. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 15.26% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in RCL. Aperio Group LLC increased its holdings in Royal Caribbean Cruises by 20.0% during the 1st quarter. Aperio Group LLC now owns 69,368 shares of the company’s stock worth $8,167,000 after purchasing an additional 11,545 shares in the last quarter. Teacher Retirement System of Texas grew its holdings in shares of Royal Caribbean Cruises by 30.9% in the 1st quarter. Teacher Retirement System of Texas now owns 87,125 shares of the company’s stock valued at $10,258,000 after acquiring an additional 20,560 shares in the last quarter. Bamco Inc. NY grew its holdings in shares of Royal Caribbean Cruises by 12.4% in the 1st quarter. Bamco Inc. NY now owns 118,240 shares of the company’s stock valued at $13,922,000 after acquiring an additional 13,052 shares in the last quarter. Systematic Financial Management LP bought a new position in shares of Royal Caribbean Cruises in the 1st quarter valued at about $7,480,000. Finally, KBC Group NV grew its holdings in shares of Royal Caribbean Cruises by 3.2% in the 1st quarter. KBC Group NV now owns 105,681 shares of the company’s stock valued at $12,443,000 after acquiring an additional 3,258 shares in the last quarter. Hedge funds and other institutional investors own 71.00% of the company’s stock.
Royal Caribbean Cruises Company Profile
Royal Caribbean Cruises Ltd. operates as a cruise company. The company operates cruises under the Royal Caribbean International, Celebrity Cruises, and Azamara Club Cruises brands. The Royal Caribbean International brand provides itineraries to destinations worldwide, including Alaska, Asia, Australia, Bahamas, Bermuda, Canada, the Caribbean, Europe, the Panama Canal, and New Zealand with cruise lengths that range from 2 to 23 nights.
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