$2.80 Billion in Sales Expected for Royal Caribbean Cruises Ltd (NYSE:RCL) This Quarter

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Equities analysts predict that Royal Caribbean Cruises Ltd (NYSE:RCL) will post $2.80 billion in sales for the current quarter, Zacks reports. Seven analysts have made estimates for Royal Caribbean Cruises’ earnings, with the lowest sales estimate coming in at $2.76 billion and the highest estimate coming in at $2.83 billion. Royal Caribbean Cruises reported sales of $2.34 billion in the same quarter last year, which would suggest a positive year over year growth rate of 19.7%. The company is scheduled to issue its next quarterly earnings results on Thursday, August 1st.

According to Zacks, analysts expect that Royal Caribbean Cruises will report full-year sales of $11.06 billion for the current financial year, with estimates ranging from $10.96 billion to $11.16 billion. For the next financial year, analysts forecast that the firm will post sales of $11.88 billion, with estimates ranging from $11.68 billion to $12.24 billion. Zacks’ sales calculations are an average based on a survey of analysts that that provide coverage for Royal Caribbean Cruises.

Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings results on Wednesday, May 1st. The company reported $1.31 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.11 by $0.20. The business had revenue of $2.44 billion for the quarter, compared to analyst estimates of $2.38 billion. Royal Caribbean Cruises had a return on equity of 17.23% and a net margin of 18.60%. Royal Caribbean Cruises’s quarterly revenue was up 20.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.09 EPS.

RCL has been the topic of several recent analyst reports. Zacks Investment Research lowered Royal Caribbean Cruises from a “buy” rating to a “hold” rating in a research note on Tuesday, March 12th. Deutsche Bank reaffirmed a “buy” rating and issued a $140.00 price target on shares of Royal Caribbean Cruises in a research note on Wednesday, May 1st. Wells Fargo & Co boosted their price target on Royal Caribbean Cruises from $145.00 to $155.00 and gave the company an “outperform” rating in a research note on Monday, February 25th. Citigroup boosted their price target on Royal Caribbean Cruises from $138.00 to $154.00 and gave the company a “buy” rating in a research note on Monday, May 6th. Finally, Buckingham Research boosted their price target on Royal Caribbean Cruises from $148.00 to $158.00 and gave the company a “buy” rating in a research note on Thursday, May 2nd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $143.75.

RCL stock traded up $1.66 during trading on Tuesday, hitting $124.13. The company had a trading volume of 801,279 shares, compared to its average volume of 1,162,359. The company has a debt-to-equity ratio of 0.67, a current ratio of 0.16 and a quick ratio of 0.14. The firm has a market cap of $26.02 billion, a price-to-earnings ratio of 14.01, a P/E/G ratio of 1.11 and a beta of 1.41. Royal Caribbean Cruises has a fifty-two week low of $89.48 and a fifty-two week high of $133.60.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 3rd. Shareholders of record on Tuesday, June 4th will be paid a $0.70 dividend. This represents a $2.80 dividend on an annualized basis and a yield of 2.26%. The ex-dividend date of this dividend is Monday, June 3rd. Royal Caribbean Cruises’s dividend payout ratio is currently 31.60%.

In other Royal Caribbean Cruises news, Director Maritza Gomez Montiel sold 2,700 shares of the business’s stock in a transaction on Thursday, May 2nd. The stock was sold at an average price of $126.49, for a total value of $341,523.00. Following the transaction, the director now owns 3,081 shares of the company’s stock, valued at $389,715.69. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Henry L. Pujol sold 4,134 shares of the company’s stock in a transaction on Thursday, May 2nd. The shares were sold at an average price of $128.20, for a total value of $529,978.80. Following the transaction, the senior vice president now directly owns 45,342 shares in the company, valued at approximately $5,812,844.40. The disclosure for this sale can be found here. 13.07% of the stock is currently owned by insiders.

Several institutional investors and hedge funds have recently modified their holdings of RCL. Rational Advisors LLC lifted its position in shares of Royal Caribbean Cruises by 1,060.0% during the first quarter. Rational Advisors LLC now owns 232 shares of the company’s stock worth $27,000 after acquiring an additional 212 shares in the last quarter. Front Row Advisors LLC increased its position in shares of Royal Caribbean Cruises by 475.0% during the first quarter. Front Row Advisors LLC now owns 230 shares of the company’s stock valued at $27,000 after purchasing an additional 190 shares during the period. JOYN Advisors Inc. increased its position in shares of Royal Caribbean Cruises by 118.2% during the fourth quarter. JOYN Advisors Inc. now owns 312 shares of the company’s stock valued at $31,000 after purchasing an additional 169 shares during the period. Athena Capital Advisors LLC bought a new stake in shares of Royal Caribbean Cruises during the fourth quarter valued at approximately $32,000. Finally, First Manhattan Co. bought a new stake in shares of Royal Caribbean Cruises during the first quarter valued at approximately $40,000. 72.83% of the stock is currently owned by institutional investors and hedge funds.

Royal Caribbean Cruises Company Profile

Royal Caribbean Cruises Ltd. operates as a cruise company. The company operates cruises under the Royal Caribbean International, Celebrity Cruises, Azamara Club Cruises, and Silversea Cruises brands. The Royal Caribbean International brand provides itineraries to destinations worldwide, including Alaska, Asia, Australia, Bahamas, Bermuda, Canada, the Caribbean, Europe, the Panama Canal, and New Zealand with cruise lengths that range from 2 to 23 nights.

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Earnings History and Estimates for Royal Caribbean Cruises (NYSE:RCL)

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