Q2 2024 EPS Estimates for Royal Caribbean Cruises Ltd. (NYSE:RCL) Raised by Analyst

Royal Caribbean Cruises Ltd. (NYSE:RCL) – Research analysts at Zacks Research increased their Q2 2024 EPS estimates for Royal Caribbean Cruises in a research note issued to investors on Tuesday, April 23rd. Zacks Research analyst S. Singha now forecasts that the company will earn $2.40 per share for the quarter, up from their previous estimate of $2.38. The consensus estimate for Royal Caribbean Cruises’ current full-year earnings is $9.99 per share.

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

Several other research firms have also recently issued reports on RCL. Macquarie upped their price target on shares of Royal Caribbean Cruises from $145.00 to $160.00 and gave the company an “outperform” rating in a report on Friday, March 15th. Barclays increased their target price on shares of Royal Caribbean Cruises from $150.00 to $154.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Susquehanna increased their target price on shares of Royal Caribbean Cruises from $120.00 to $150.00 and gave the stock a “positive” rating in a report on Wednesday, January 31st. Wells Fargo & Company increased their target price on shares of Royal Caribbean Cruises from $151.00 to $153.00 and gave the stock an “overweight” rating in a report on Monday, February 26th. Finally, Mizuho assumed coverage on shares of Royal Caribbean Cruises in a report on Wednesday, April 17th. They set a “buy” rating and a $164.00 target price on the stock. Two research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat, Royal Caribbean Cruises currently has an average rating of “Moderate Buy” and a consensus target price of $136.94.

Royal Caribbean Cruises Trading Up 0.5 %

RCL opened at $137.47 on Wednesday. The stock has a market capitalization of $35.29 billion, a PE ratio of 22.10, a P/E/G ratio of 0.50 and a beta of 2.52. The firm’s fifty day moving average price is $129.71 and its 200 day moving average price is $117.11. The company has a debt-to-equity ratio of 4.03, a current ratio of 0.19 and a quick ratio of 0.16. Royal Caribbean Cruises has a 12-month low of $59.37 and a 12-month high of $141.70.

Insider Activity at Royal Caribbean Cruises

In related news, CEO Michael W. Bayley sold 11,753 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 166,537 shares in the company, valued at approximately $19,319,957.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 8.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Royal Caribbean Cruises

Several large investors have recently made changes to their positions in the business. Kowal Investment Group LLC boosted its position in shares of Royal Caribbean Cruises by 4.0% during the 1st quarter. Kowal Investment Group LLC now owns 2,286 shares of the company’s stock valued at $318,000 after purchasing an additional 87 shares in the last quarter. West Branch Capital LLC boosted its position in shares of Royal Caribbean Cruises by 50.0% during the 4th quarter. West Branch Capital LLC now owns 300 shares of the company’s stock valued at $39,000 after purchasing an additional 100 shares in the last quarter. Toth Financial Advisory Corp boosted its position in shares of Royal Caribbean Cruises by 24.6% during the 4th quarter. Toth Financial Advisory Corp now owns 506 shares of the company’s stock valued at $66,000 after purchasing an additional 100 shares in the last quarter. Massmutual Trust Co. FSB ADV lifted its stake in Royal Caribbean Cruises by 11.6% during the first quarter. Massmutual Trust Co. FSB ADV now owns 1,026 shares of the company’s stock valued at $143,000 after buying an additional 107 shares in the last quarter. Finally, Ballentine Partners LLC lifted its stake in Royal Caribbean Cruises by 2.7% during the first quarter. Ballentine Partners LLC now owns 4,304 shares of the company’s stock valued at $598,000 after buying an additional 115 shares in the last quarter. Institutional investors own 87.53% of the company’s stock.

Royal Caribbean Cruises Company Profile

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.