Royal Caribbean Cruises Ltd. (NYSE:RCL) Expected to Post Quarterly Sales of $2.22 Billion

Equities research analysts expect Royal Caribbean Cruises Ltd. (NYSE:RCL – Get Rating) to report sales of $2.22 billion for the current fiscal quarter, Zacks Investment Research reports. Five analysts have made estimates for Royal Caribbean Cruises’ earnings. The lowest sales estimate is $2.05 billion and the highest is $2.31 billion. Royal Caribbean Cruises reported sales of $50.91 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 4,260.6%. The company is scheduled to announce its next quarterly earnings report on Monday, January 1st.

According to Zacks, analysts expect that Royal Caribbean Cruises will report full-year sales of $9.43 billion for the current year, with estimates ranging from $8.59 billion to $10.55 billion. For the next year, analysts expect that the business will report sales of $12.87 billion, with estimates ranging from $12.28 billion to $13.85 billion. Zacks’ sales averages are an average based on a survey of research firms that that provide coverage for Royal Caribbean Cruises.

Royal Caribbean Cruises (NYSE:RCL – Get Rating) last posted its earnings results on Thursday, May 5th. The company reported ($4.57) earnings per share for the quarter, topping analysts’ consensus estimates of ($4.68) by $0.11. Royal Caribbean Cruises had a negative net margin of 207.74% and a negative return on equity of 83.99%. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the previous year, the firm posted ($4.44) EPS. The business’s quarterly revenue was up 2421.1% on a year-over-year basis.

RCL has been the subject of several research reports. Stifel Nicolaus lowered their price target on shares of Royal Caribbean Cruises from $125.00 to $118.00 and set a “buy” rating for the company in a research report on Monday, March 14th. Wells Fargo & Company initiated coverage on shares of Royal Caribbean Cruises in a research report on Tuesday, March 29th. They issued an “overweight” rating and a $93.00 price target for the company. Morgan Stanley lowered their price target on shares of Royal Caribbean Cruises from $65.00 to $61.00 and set an “underweight” rating for the company in a research report on Tuesday, February 8th. Truist Financial lowered their price target on shares of Royal Caribbean Cruises from $80.00 to $70.00 and set a “hold” rating for the company in a research report on Thursday, March 17th. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Royal Caribbean Cruises from $81.00 to $76.00 in a research note on Friday, May 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $91.11.

In other news, CEO Michael W. Bayley sold 3,859 shares of the stock in a transaction dated Friday, March 25th. The shares were sold at an average price of $77.02, for a total value of $297,220.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael W. Bayley sold 3,637 shares of the stock in a transaction dated Tuesday, March 29th. The shares were sold at an average price of $80.00, for a total transaction of $290,960.00. The disclosure for this sale can be found here. Company insiders own 9.56% of the company’s stock.

A number of institutional investors have recently added to or reduced their stakes in the stock. PSI Advisors LLC acquired a new stake in shares of Royal Caribbean Cruises during the third quarter valued at about $27,000. Massmutual Trust Co. FSB ADV increased its position in shares of Royal Caribbean Cruises by 303.5% during the fourth quarter. Massmutual Trust Co. FSB ADV now owns 347 shares of the company’s stock valued at $27,000 after acquiring an additional 261 shares during the last quarter. Capital Advisory Group Advisory Services LLC acquired a new stake in shares of Royal Caribbean Cruises during the first quarter valued at about $29,000. Wolff Wiese Magana LLC acquired a new stake in shares of Royal Caribbean Cruises during the fourth quarter valued at about $31,000. Finally, Cassady Schiller Wealth Management LLC purchased a new position in shares of Royal Caribbean Cruises in the fourth quarter valued at approximately $37,000. Hedge funds and other institutional investors own 73.74% of the company’s stock.

Shares of RCL stock traded up $3.85 during trading hours on Monday, reaching $61.63. 4,633,581 shares of the stock were exchanged, compared to its average volume of 2,972,251. Royal Caribbean Cruises has a 12-month low of $56.15 and a 12-month high of $98.27. The company has a current ratio of 0.40, a quick ratio of 0.37 and a debt-to-equity ratio of 5.00. The company’s 50-day moving average price is $76.07 and its 200-day moving average price is $78.43. The firm has a market capitalization of $15.71 billion, a price-to-earnings ratio of -2.96 and a beta of 2.38.

About Royal Caribbean Cruises (Get Rating)

Royal Caribbean Cruises Ltd. operates as a cruise company worldwide. The company operates cruises under the Royal Caribbean International, Celebrity Cruises, Azamara, and Silversea Cruises brands, which comprise a range of itineraries that call on approximately 1,000 destinations. As of February 25, 2022, it operated 61 ships.

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