Royal Caribbean Cruises Ltd (RCL) Expected to Post Quarterly Sales of $2.38 Billion

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Brokerages expect Royal Caribbean Cruises Ltd (NYSE:RCL) to report sales of $2.38 billion for the current fiscal quarter, Zacks reports. Seven analysts have made estimates for Royal Caribbean Cruises’ earnings. The highest sales estimate is $2.40 billion and the lowest is $2.35 billion. Royal Caribbean Cruises reported sales of $2.03 billion in the same quarter last year, which would suggest a positive year over year growth rate of 17.2%. The business is expected to report its next quarterly earnings report on Thursday, April 25th.

On average, analysts expect that Royal Caribbean Cruises will report full-year sales of $11.01 billion for the current fiscal year, with estimates ranging from $10.90 billion to $11.10 billion. For the next year, analysts anticipate that the company will report sales of $11.80 billion, with estimates ranging from $11.60 billion to $11.98 billion. Zacks Investment Research’s sales calculations are an average based on a survey of analysts that follow Royal Caribbean Cruises.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings data on Wednesday, January 30th. The company reported $1.53 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.51 by $0.02. Royal Caribbean Cruises had a net margin of 19.08% and a return on equity of 17.08%. The firm had revenue of $2.33 billion for the quarter, compared to the consensus estimate of $2.31 billion. During the same quarter in the prior year, the company posted $7.53 earnings per share. The business’s revenue was up 16.4% on a year-over-year basis.

Several research analysts have weighed in on the stock. Zacks Investment Research downgraded shares of Royal Caribbean Cruises from a “buy” rating to a “hold” rating in a report on Tuesday. Wells Fargo & Co upped their price objective on shares of Royal Caribbean Cruises from $145.00 to $155.00 and gave the stock an “outperform” rating in a report on Monday, February 25th. ValuEngine downgraded shares of Royal Caribbean Cruises from a “hold” rating to a “sell” rating in a report on Friday, January 4th. Wolfe Research set a $151.00 price objective on shares of Royal Caribbean Cruises and gave the stock a “buy” rating in a report on Tuesday, December 11th. Finally, Tigress Financial restated a “buy” rating on shares of Royal Caribbean Cruises in a report on Friday, December 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and ten have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $140.92.

RCL traded up $1.31 during trading on Tuesday, hitting $117.76. 464,635 shares of the company’s stock were exchanged, compared to its average volume of 1,578,100. The company has a current ratio of 0.17, a quick ratio of 0.15 and a debt-to-equity ratio of 0.75. Royal Caribbean Cruises has a fifty-two week low of $89.48 and a fifty-two week high of $133.60. The company has a market cap of $24.33 billion, a price-to-earnings ratio of 13.29, a PEG ratio of 0.84 and a beta of 1.53.

The company also recently announced a quarterly dividend, which will be paid on Friday, April 5th. Stockholders of record on Thursday, March 7th will be paid a $0.70 dividend. The ex-dividend date is Wednesday, March 6th. This represents a $2.80 annualized dividend and a dividend yield of 2.38%. Royal Caribbean Cruises’s payout ratio is 31.60%.

In other news, EVP Harri U. Kulovaara sold 8,642 shares of the company’s stock in a transaction on Friday, February 15th. The shares were sold at an average price of $117.90, for a total value of $1,018,891.80. Following the completion of the sale, the executive vice president now owns 26,048 shares in the company, valued at approximately $3,071,059.20. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Bradley H. Stein sold 5,909 shares of the stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $119.27, for a total transaction of $704,766.43. Following the transaction, the senior vice president now owns 19,874 shares of the company’s stock, valued at approximately $2,370,371.98. The disclosure for this sale can be found here. In the last quarter, insiders sold 69,447 shares of company stock valued at $8,271,277. Company insiders own 15.26% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Norges Bank acquired a new position in Royal Caribbean Cruises in the fourth quarter valued at approximately $163,502,000. Point72 Asset Management L.P. grew its stake in shares of Royal Caribbean Cruises by 317.2% in the 3rd quarter. Point72 Asset Management L.P. now owns 1,061,455 shares of the company’s stock worth $137,925,000 after acquiring an additional 807,055 shares in the last quarter. Altshuler Shaham Ltd grew its position in Royal Caribbean Cruises by 857.4% during the fourth quarter. Altshuler Shaham Ltd now owns 746,123 shares of the company’s stock valued at $72,892,000 after buying an additional 668,190 shares during the period. Royal London Asset Management Ltd. grew its position in Royal Caribbean Cruises by 804.6% during the third quarter. Royal London Asset Management Ltd. now owns 661,674 shares of the company’s stock valued at $135,938,000 after buying an additional 588,527 shares during the period. Finally, Impala Asset Management LLC grew its position in Royal Caribbean Cruises by 1,081.1% during the third quarter. Impala Asset Management LLC now owns 455,747 shares of the company’s stock valued at $59,220,000 after buying an additional 417,160 shares during the period. Institutional investors own 70.53% of the company’s stock.

About Royal Caribbean Cruises

Royal Caribbean Cruises Ltd. operates as a cruise company. The company operates cruises under the Royal Caribbean International, Celebrity Cruises, Azamara Club Cruises, and Silversea 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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Earnings History and Estimates for Royal Caribbean Cruises (NYSE:RCL)

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