William Blair Brokers Boost Earnings Estimates for Royal Caribbean Cruises Ltd. (NYSE:RCL)

Royal Caribbean Cruises Ltd. (NYSE:RCL) – Research analysts at William Blair lifted their Q1 2024 earnings per share (EPS) estimates for Royal Caribbean Cruises in a report issued on Wednesday, April 17th. William Blair analyst S. Zackfia now anticipates that the company will post earnings per share of $1.37 for the quarter, up from their previous forecast of $1.35. The consensus estimate for Royal Caribbean Cruises’ current full-year earnings is $10.01 per share.

Royal Caribbean Cruises (NYSE:RCL) last released its earnings results on Thursday, February 1st. The company reported $1.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.13 by $0.12. The firm had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.36 billion. Royal Caribbean Cruises had a return on equity of 45.55% and a net margin of 12.22%. Royal Caribbean Cruises’s revenue was up 28.0% compared to the same quarter last year. During the same period last year, the business posted ($1.12) earnings per share.

RCL has been the subject of a number of other reports. Morgan Stanley lifted their target price on Royal Caribbean Cruises from $100.00 to $115.00 and gave the company an “equal weight” rating in a report on Wednesday, February 7th. UBS Group lifted their price target on Royal Caribbean Cruises from $148.00 to $154.00 and gave the stock a “buy” rating in a report on Friday, February 16th. Macquarie lifted their price target on Royal Caribbean Cruises from $145.00 to $160.00 and gave the stock an “outperform” rating in a report on Friday, March 15th. Wells Fargo & Company lifted their price target on Royal Caribbean Cruises from $151.00 to $153.00 and gave the stock an “overweight” rating in a report on Monday, February 26th. Finally, Susquehanna lifted their price target on Royal Caribbean Cruises from $120.00 to $150.00 and gave the stock a “positive” rating in a report on Wednesday, January 31st. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $136.94.

Royal Caribbean Cruises Trading Up 3.5 %

NYSE:RCL opened at $136.67 on Monday. The firm has a market cap of $35.08 billion, a PE ratio of 21.97, a price-to-earnings-growth ratio of 0.47 and a beta of 2.52. The stock has a fifty day moving average price of $128.91 and a 200 day moving average price of $116.82. Royal Caribbean Cruises has a 12-month low of $59.37 and a 12-month high of $141.70. The company has a current ratio of 0.19, a quick ratio of 0.16 and a debt-to-equity ratio of 4.03.

Hedge Funds Weigh In On Royal Caribbean Cruises

Institutional investors have recently added to or reduced their stakes in the stock. Nordea Investment Management AB increased its position in Royal Caribbean Cruises by 120.9% in the 4th quarter. Nordea Investment Management AB now owns 194,018 shares of the company’s stock valued at $25,149,000 after acquiring an additional 106,203 shares during the period. Geneos Wealth Management Inc. increased its position in Royal Caribbean Cruises by 1,672.8% in the 4th quarter. Geneos Wealth Management Inc. now owns 18,845 shares of the company’s stock valued at $2,440,000 after acquiring an additional 17,782 shares during the period. Retireful LLC acquired a new position in Royal Caribbean Cruises in the 4th quarter valued at about $1,977,000. Bank of New York Mellon Corp increased its position in Royal Caribbean Cruises by 0.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,533,566 shares of the company’s stock worth $141,303,000 after purchasing an additional 10,095 shares during the period. Finally, Redhawk Wealth Advisors Inc. acquired a new position in Royal Caribbean Cruises during the 4th quarter worth approximately $1,120,000. Institutional investors and hedge funds own 87.53% of the company’s stock.

Insider Transactions at Royal Caribbean Cruises

In other news, CEO Michael W. Bayley sold 11,753 shares of Royal Caribbean Cruises stock in a transaction dated Tuesday, February 13th. The stock was sold at an average price of $116.01, for a total transaction of $1,363,465.53. Following the sale, the chief executive officer now owns 166,537 shares in the company, valued at $19,319,957.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 8.70% of the company’s stock.

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.