Q2 2024 EPS Estimates for Royal Caribbean Cruises Ltd. (NYSE:RCL) Raised by Analyst

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

Other equities research analysts have also issued reports about the stock. Morgan Stanley upped their price target on shares of Royal Caribbean Cruises from $100.00 to $115.00 and gave the company an “equal weight” rating in a report on Wednesday, February 7th. Mizuho initiated coverage on shares of Royal Caribbean Cruises in a research report on Wednesday, April 17th. They issued a “buy” rating and a $164.00 price objective for the company. The Goldman Sachs Group reiterated a “buy” rating on shares of Royal Caribbean Cruises in a research report on Monday, April 1st. UBS Group upped their price objective on shares of Royal Caribbean Cruises from $148.00 to $154.00 and gave the stock a “buy” rating in a research report on Friday, February 16th. Finally, Macquarie upped their price objective on shares of Royal Caribbean Cruises from $145.00 to $160.00 and gave the stock an “outperform” rating in a research report on Friday, March 15th. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $136.94.

Royal Caribbean Cruises Price Performance

NYSE:RCL opened at $137.47 on Wednesday. Royal Caribbean Cruises has a one year low of $59.37 and a one year high of $141.70. The company has a debt-to-equity ratio of 4.03, a quick ratio of 0.16 and a current ratio of 0.19. The firm has a market cap of $35.29 billion, a price-to-earnings ratio of 22.10, a PEG ratio of 0.50 and a beta of 2.52. The firm’s fifty day moving average is $129.71 and its two-hundred day moving average is $117.11.

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

Insider Activity at Royal Caribbean Cruises

In related news, CEO Michael W. Bayley sold 11,753 shares of the company’s stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $116.01, for a total transaction of $1,363,465.53. Following the completion of the sale, the chief executive officer now owns 166,537 shares of the company’s stock, valued at approximately $19,319,957.37. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 8.70% of the stock is owned by corporate insiders.

Institutional Trading of Royal Caribbean Cruises

Hedge funds have recently made changes to their positions in the company. Nordea Investment Management AB grew its stake in shares of Royal Caribbean Cruises by 120.9% in the 4th quarter. Nordea Investment Management AB now owns 194,018 shares of the company’s stock valued at $25,149,000 after buying an additional 106,203 shares during the period. Geneos Wealth Management Inc. grew its stake in shares of Royal Caribbean Cruises by 1,672.8% in the 4th quarter. Geneos Wealth Management Inc. now owns 18,845 shares of the company’s stock valued at $2,440,000 after buying an additional 17,782 shares during the period. Retireful LLC purchased a new stake in shares of Royal Caribbean Cruises in the 4th quarter valued at approximately $1,977,000. Bank of New York Mellon Corp grew its stake in shares of Royal Caribbean Cruises by 0.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,533,566 shares of the company’s stock valued at $141,303,000 after buying an additional 10,095 shares during the period. Finally, Redhawk Wealth Advisors Inc. purchased a new stake in shares of Royal Caribbean Cruises in the 4th quarter valued at approximately $1,120,000. Hedge funds and other institutional investors own 87.53% of the company’s stock.

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.