Q2 2024 Earnings Forecast for Royal Caribbean Cruises Ltd. (NYSE:RCL) Issued By Zacks Research

Royal Caribbean Cruises Ltd. (NYSE:RCL) – Equities research analysts at Zacks Research upped their Q2 2024 earnings per share estimates for Royal Caribbean Cruises in a research note issued on Tuesday, April 23rd. Zacks Research analyst S. Singha now anticipates that the company will post earnings per share of $2.40 for the quarter, up from their previous forecast of $2.38. The consensus estimate for Royal Caribbean Cruises’ current full-year earnings is $9.99 per share.

Other research analysts have also issued reports about the stock. UBS Group raised their target price on shares of Royal Caribbean Cruises from $148.00 to $154.00 and gave the company a “buy” rating in a research note on Friday, February 16th. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Royal Caribbean Cruises in a research report on Monday, April 1st. Mizuho initiated coverage on Royal Caribbean Cruises in a research report on Wednesday, April 17th. They set a “buy” rating and a $164.00 price objective for the company. Susquehanna raised their target price on Royal Caribbean Cruises from $120.00 to $150.00 and gave the company a “positive” rating in a report on Wednesday, January 31st. Finally, Barclays upped their price target on Royal Caribbean Cruises from $150.00 to $154.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, Royal Caribbean Cruises currently has an average rating of “Moderate Buy” and a consensus price target of $136.94.

Royal Caribbean Cruises Trading Up 0.0 %

Shares of RCL stock opened at $136.68 on Wednesday. The business’s 50 day moving average is $129.31 and its two-hundred day moving average is $116.96. The company has a quick ratio of 0.16, a current ratio of 0.19 and a debt-to-equity ratio of 4.03. Royal Caribbean Cruises has a 12 month low of $59.37 and a 12 month high of $141.70. The company has a market cap of $35.08 billion, a PE ratio of 21.97, a price-to-earnings-growth ratio of 0.48 and a beta of 2.52.

Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings data on Thursday, February 1st. The company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.12. Royal Caribbean Cruises had a return on equity of 45.55% and a net margin of 12.22%. The business had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.36 billion. During the same quarter in the prior year, the firm posted ($1.12) EPS. The firm’s revenue for the quarter was up 28.0% on a year-over-year basis.

Insider Activity

In related news, CEO Michael W. Bayley sold 11,753 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $116.01, for a total value of $1,363,465.53. Following the completion of the transaction, the chief executive officer now owns 166,537 shares of the company’s stock, valued at $19,319,957.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 8.70% of the stock is owned by company insiders.

Institutional Trading of Royal Caribbean Cruises

A number of large investors have recently bought and sold shares of RCL. BKM Wealth Management LLC bought a new stake in Royal Caribbean Cruises during the fourth quarter worth about $26,000. Scarborough Advisors LLC bought a new stake in Royal Caribbean Cruises during the 4th quarter worth approximately $26,000. ST Germain D J Co. Inc. increased its holdings in Royal Caribbean Cruises by 65.0% during the 3rd quarter. ST Germain D J Co. Inc. now owns 330 shares of the company’s stock valued at $30,000 after purchasing an additional 130 shares in the last quarter. Creekmur Asset Management LLC acquired a new stake in Royal Caribbean Cruises during the 4th quarter valued at $30,000. Finally, Turtle Creek Wealth Advisors LLC bought a new position in Royal Caribbean Cruises in the 4th quarter valued at $33,000. 87.53% of the stock is currently owned by institutional investors.

About Royal Caribbean Cruises

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.