Royal Caribbean Cruises Ltd (NYSE:RCL) Expected to Post Quarterly Sales of $3.22 Billion

Wall Street analysts predict that Royal Caribbean Cruises Ltd (NYSE:RCL) will announce sales of $3.22 billion for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have provided estimates for Royal Caribbean Cruises’ earnings. The lowest sales estimate is $3.19 billion and the highest is $3.24 billion. Royal Caribbean Cruises reported sales of $2.80 billion during the same quarter last year, which would suggest a positive year over year growth rate of 15%. The business is scheduled to issue its next earnings report on Thursday, October 24th.

According to Zacks, analysts expect that Royal Caribbean Cruises will report full year sales of $10.97 billion for the current financial year, with estimates ranging from $10.87 billion to $11.01 billion. For the next fiscal year, analysts expect that the firm will report sales of $11.80 billion, with estimates ranging from $11.60 billion to $11.97 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side analysts that cover Royal Caribbean Cruises.

Royal Caribbean Cruises (NYSE:RCL) last released its earnings results on Thursday, July 25th. The company reported $2.54 earnings per share for the quarter, beating analysts’ consensus estimates of $2.45 by $0.09. The firm had revenue of $2.81 billion during the quarter, compared to the consensus estimate of $2.79 billion. Royal Caribbean Cruises had a return on equity of 17.39% and a net margin of 17.82%. The company’s revenue was up 20.1% compared to the same quarter last year. During the same period in the prior year, the company posted $2.27 EPS.

A number of analysts have recently weighed in on RCL shares. Wells Fargo & Co upped their target price on Royal Caribbean Cruises from $155.00 to $158.00 and gave the company an “outperform” rating in a research report on Friday, September 6th. Deutsche Bank cut their target price on Royal Caribbean Cruises from $145.00 to $139.00 and set a “buy” rating for the company in a research report on Friday, July 19th. Stifel Nicolaus upped their target price on Royal Caribbean Cruises from $150.00 to $151.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Argus downgraded Royal Caribbean Cruises from a “buy” rating to a “hold” rating in a research report on Tuesday, August 13th. Finally, ValuEngine upgraded Royal Caribbean Cruises from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and eight have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $144.30.

Shares of NYSE:RCL traded up $1.73 during trading on Thursday, reaching $103.61. 1,051,159 shares of the company traded hands, compared to its average volume of 1,587,281. The company’s 50 day moving average is $107.18 and its two-hundred day moving average is $115.16. The firm has a market capitalization of $21.50 billion, a PE ratio of 11.69, a PEG ratio of 1.01 and a beta of 1.40. The company has a quick ratio of 0.15, a current ratio of 0.17 and a debt-to-equity ratio of 0.83. Royal Caribbean Cruises has a 52 week low of $89.48 and a 52 week high of $131.04.

The firm also recently disclosed a 0.70000 dividend, which will be paid on Friday, October 11th. Investors of record on Friday, September 20th will be given a dividend of $0.78 per share. The ex-dividend date of this dividend is Thursday, September 19th. This represents a dividend yield of 2.8%. Royal Caribbean Cruises’s dividend payout ratio is currently 35.21%.

In related news, CEO Richard D. Fain sold 20,000 shares of the company’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $105.66, for a total transaction of $2,113,200.00. Following the completion of the sale, the chief executive officer now directly owns 865,651 shares in the company, valued at approximately $91,464,684.66. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Lawrence R. Pimentel sold 10,518 shares of the stock in a transaction dated Wednesday, August 21st. The shares were sold at an average price of $108.25, for a total value of $1,138,573.50. Following the completion of the transaction, the chief executive officer now owns 55,909 shares of the company’s stock, valued at $6,052,149.25. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 50,518 shares of company stock valued at $5,420,974. 13.07% of the stock is owned by corporate insiders.

A number of institutional investors have recently bought and sold shares of RCL. Buckingham Capital Management Inc. raised its position in Royal Caribbean Cruises by 31.3% in the first quarter. Buckingham Capital Management Inc. now owns 31,629 shares of the company’s stock valued at $3,625,000 after purchasing an additional 7,533 shares during the last quarter. First Trust Advisors LP raised its position in Royal Caribbean Cruises by 11.5% in the first quarter. First Trust Advisors LP now owns 157,519 shares of the company’s stock valued at $18,055,000 after purchasing an additional 16,277 shares during the last quarter. Advisor Group Inc. raised its position in Royal Caribbean Cruises by 33.7% in the first quarter. Advisor Group Inc. now owns 18,693 shares of the company’s stock valued at $2,145,000 after purchasing an additional 4,707 shares during the last quarter. Envestnet Asset Management Inc. raised its position in Royal Caribbean Cruises by 14.7% in the first quarter. Envestnet Asset Management Inc. now owns 60,509 shares of the company’s stock valued at $6,936,000 after purchasing an additional 7,775 shares during the last quarter. Finally, NumerixS Investment Technologies Inc bought a new position in Royal Caribbean Cruises in the first quarter valued at about $224,000. Hedge funds and other institutional investors own 72.80% of the company’s stock.

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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