Brokerages Expect Royal Caribbean Cruises Ltd (RCL) Will Announce Quarterly Sales of $2.31 Billion

Brokerages predict that Royal Caribbean Cruises Ltd (NYSE:RCL) will report $2.31 billion in sales for the current fiscal quarter, Zacks reports. Seven analysts have provided estimates for Royal Caribbean Cruises’ earnings. The highest sales estimate is $2.33 billion and the lowest is $2.28 billion. Royal Caribbean Cruises reported sales of $2.00 billion during the same quarter last year, which indicates a positive year-over-year growth rate of 15.5%. The firm is scheduled to announce its next earnings report on Wednesday, January 23rd.

According to Zacks, analysts expect that Royal Caribbean Cruises will report full-year sales of $9.46 billion for the current financial year, with estimates ranging from $9.38 billion to $9.50 billion. For the next year, analysts forecast that the company will report sales of $10.68 billion, with estimates ranging from $10.20 billion to $10.92 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that that provide coverage for Royal Caribbean Cruises.

Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings data on Thursday, October 25th. The company reported $3.98 EPS for the quarter, beating the Zacks’ consensus estimate of $3.97 by $0.01. The firm had revenue of $2.80 billion during the quarter, compared to the consensus estimate of $2.82 billion. Royal Caribbean Cruises had a net margin of 19.46% and a return on equity of 16.93%.

A number of equities research analysts have recently issued reports on the stock. Nomura reduced their price target on shares of Royal Caribbean Cruises from $153.00 to $152.00 and set a “buy” rating for the company in a research report on Friday, October 26th. Zacks Investment Research upgraded shares of Royal Caribbean Cruises from a “hold” rating to a “buy” rating and set a $125.00 price target for the company in a research report on Wednesday, August 8th. Macquarie lifted their price target on shares of Royal Caribbean Cruises from $103.00 to $104.00 and gave the company a “neutral” rating in a research report on Friday, October 26th. Wells Fargo & Co reduced their price target on shares of Royal Caribbean Cruises from $150.00 to $145.00 and set an “outperform” rating for the company in a research report on Monday, October 29th. Finally, Citigroup reduced their price target on shares of Royal Caribbean Cruises from $138.00 to $136.00 and set a “buy” rating for the company in a research report on Friday, August 17th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and eleven have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $139.62.

Shares of RCL stock traded up $2.91 during midday trading on Friday, reaching $110.28. 746,618 shares of the company traded hands, compared to its average volume of 1,778,570. Royal Caribbean Cruises has a 1-year low of $97.48 and a 1-year high of $135.65. The company has a current ratio of 0.19, a quick ratio of 0.17 and a debt-to-equity ratio of 0.67. The company has a market cap of $22.44 billion, a price-to-earnings ratio of 14.65, a PEG ratio of 0.88 and a beta of 1.34.

In other news, EVP Harri U. Kulovaara sold 6,600 shares of the firm’s stock in a transaction that occurred on Thursday, September 13th. The shares were sold at an average price of $125.55, for a total transaction of $828,630.00. Following the completion of the transaction, the executive vice president now directly owns 26,165 shares of the company’s stock, valued at approximately $3,285,015.75. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Bernt Reitan sold 1,578 shares of the firm’s stock in a transaction that occurred on Monday, November 19th. The stock was sold at an average price of $106.58, for a total transaction of $168,183.24. The disclosure for this sale can be found here. Company insiders own 15.26% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Royal Caribbean Cruises by 0.5% in the 3rd quarter. Vanguard Group Inc. now owns 17,531,729 shares of the company’s stock worth $2,278,073,000 after acquiring an additional 80,826 shares during the period. BlackRock Inc. grew its stake in Royal Caribbean Cruises by 2.2% in the 2nd quarter. BlackRock Inc. now owns 11,120,672 shares of the company’s stock worth $1,152,098,000 after acquiring an additional 236,598 shares during the period. FMR LLC grew its stake in Royal Caribbean Cruises by 16.5% in the 2nd quarter. FMR LLC now owns 5,861,019 shares of the company’s stock worth $607,202,000 after acquiring an additional 830,047 shares during the period. Dimensional Fund Advisors LP grew its stake in Royal Caribbean Cruises by 0.5% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,452,507 shares of the company’s stock worth $318,663,000 after acquiring an additional 11,381 shares during the period. Finally, American Century Companies Inc. grew its stake in Royal Caribbean Cruises by 0.9% in the 3rd quarter. American Century Companies Inc. now owns 1,987,668 shares of the company’s stock worth $258,278,000 after acquiring an additional 16,918 shares during the period. 71.50% of the stock is owned by hedge funds and other institutional investors.

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, and Azamara Club 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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