Royal Caribbean Cruises (NYSE:RCL) Posts Earnings Results, Beats Expectations By $0.44 EPS

Royal Caribbean Cruises (NYSE:RCL) released its quarterly earnings results on Thursday. The company reported $1.77 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.44, Briefing.com reports. Royal Caribbean Cruises had a net margin of 14.28% and a return on equity of 51.54%. The company had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.69 billion. During the same period in the previous year, the business earned ($0.23) earnings per share. The firm’s quarterly revenue was up 29.2% on a year-over-year basis.

Royal Caribbean Cruises Stock Performance

Shares of Royal Caribbean Cruises stock opened at $140.58 on Friday. The company has a quick ratio of 0.16, a current ratio of 0.19 and a debt-to-equity ratio of 3.54. Royal Caribbean Cruises has a twelve month low of $59.38 and a twelve month high of $141.70. The stock has a market cap of $36.08 billion, a price-to-earnings ratio of 18.12, a P/E/G ratio of 0.46 and a beta of 2.52. The company’s fifty day moving average is $130.20 and its 200 day moving average is $117.47.

Insider Buying and Selling

In related news, CEO Michael W. Bayley sold 11,753 shares of the business’s stock in a transaction on 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 sale, the chief executive officer now owns 166,537 shares of the company’s stock, valued at $19,319,957.37. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CEO Michael W. Bayley sold 11,753 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer now owns 166,537 shares in the company, valued at $19,319,957.37. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Jason T. Liberty sold 50,000 shares of the business’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $139.63, for a total transaction of $6,981,500.00. Following the completion of the transaction, the chief executive officer now owns 153,017 shares in the company, valued at approximately $21,365,763.71. The disclosure for this sale can be found here. 8.70% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on RCL shares. The Goldman Sachs Group reiterated a “buy” rating on shares of Royal Caribbean Cruises in a research report on Monday, April 1st. Stifel Nicolaus lifted their price objective on shares of Royal Caribbean Cruises from $170.00 to $174.00 and gave the company a “buy” rating in a research note on Thursday, February 22nd. Barclays lifted their price objective on shares of Royal Caribbean Cruises from $154.00 to $165.00 and gave the company an “overweight” rating in a research note on Friday. Mizuho lifted their price objective on shares of Royal Caribbean Cruises from $164.00 to $168.00 and gave the company a “buy” rating in a research note on Friday. Finally, Macquarie lifted their price objective on shares of Royal Caribbean Cruises from $145.00 to $160.00 and gave the company an “outperform” rating in a research note on Friday, March 15th. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $138.76.

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.