Royal Caribbean Cruises (NYSE:RCL) Announces Quarterly Earnings Results

Royal Caribbean Cruises (NYSE:RCL) issued its quarterly earnings data on Tuesday. The company reported $5.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.05 by $0.15, Briefing.com reports. Royal Caribbean Cruises had a net margin of 16.21% and a return on equity of 52.92%. The company had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $4.89 billion. During the same quarter last year, the company earned $3.85 earnings per share. Royal Caribbean Cruises’s revenue for the quarter was up 17.5% on a year-over-year basis.

Royal Caribbean Cruises Stock Performance

Shares of NYSE RCL traded down $1.83 during midday trading on Friday, reaching $204.52. 515,801 shares of the company traded hands, compared to its average volume of 2,393,839. Royal Caribbean Cruises has a 52 week low of $86.75 and a 52 week high of $214.12. The stock has a 50-day moving average price of $180.26 and a 200 day moving average price of $161.00. The company has a debt-to-equity ratio of 2.63, a current ratio of 0.19 and a quick ratio of 0.17. The company has a market cap of $54.99 billion, a price-to-earnings ratio of 21.21, a PEG ratio of 0.61 and a beta of 2.61.

Insider Activity at Royal Caribbean Cruises

In related news, insider Laura H. Bethge sold 3,073 shares of Royal Caribbean Cruises stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $168.71, for a total transaction of $518,445.83. Following the sale, the insider now directly owns 27,388 shares in the company, valued at $4,620,629.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Laura H. Bethge sold 3,073 shares of Royal Caribbean Cruises stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $168.71, for a total transaction of $518,445.83. Following the sale, the insider now directly owns 27,388 shares in the company, valued at $4,620,629.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Vagn O. Sorensen sold 5,800 shares of Royal Caribbean Cruises stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $158.50, for a total transaction of $919,300.00. Following the sale, the director now owns 25,837 shares in the company, valued at approximately $4,095,164.50. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 7.95% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently weighed in on RCL shares. Bank of America raised their price target on shares of Royal Caribbean Cruises from $205.00 to $210.00 and gave the stock a “neutral” rating in a research report on Wednesday. Macquarie lifted their price objective on shares of Royal Caribbean Cruises from $189.00 to $250.00 and gave the stock an “outperform” rating in a report on Wednesday. Truist Financial lifted their price objective on shares of Royal Caribbean Cruises from $175.00 to $204.00 and gave the stock a “buy” rating in a report on Thursday, September 26th. StockNews.com downgraded shares of Royal Caribbean Cruises from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, Susquehanna lifted their price objective on shares of Royal Caribbean Cruises from $160.00 to $180.00 and gave the stock a “positive” rating in a report on Tuesday, July 30th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $214.00.

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.