Royal Caribbean Cruises (NYSE:RCL) Posts Quarterly Earnings Results, Beats Expectations By $0.15 EPS

Royal Caribbean Cruises (NYSE:RCL) posted its quarterly earnings data on Tuesday. The company reported $5.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.05 by $0.15, Briefing.com reports. The company had revenue of $4.89 billion during the quarter, compared to the consensus estimate of $4.89 billion. Royal Caribbean Cruises had a net margin of 16.32% and a return on equity of 52.49%. The firm’s revenue was up 17.5% compared to the same quarter last year. During the same period in the previous year, the firm posted $3.85 EPS.

Royal Caribbean Cruises Stock Performance

Royal Caribbean Cruises stock opened at $208.34 on Thursday. Royal Caribbean Cruises has a 1-year low of $83.25 and a 1-year high of $214.12. The firm has a market cap of $53.62 billion, a P/E ratio of 22.72, a P/E/G ratio of 0.58 and a beta of 2.61. The company has a current ratio of 0.19, a quick ratio of 0.17 and a debt-to-equity ratio of 3.20. The firm has a 50-day moving average of $179.29 and a 200-day moving average of $160.68.

Insider Buying and Selling at Royal Caribbean Cruises

In other news, insider Laura H. Bethge sold 3,073 shares of Royal Caribbean Cruises stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $168.71, for a total value of $518,445.83. Following the sale, the insider now directly owns 27,388 shares in the company, valued at approximately $4,620,629.48. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Laura H. Bethge sold 3,073 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $168.71, for a total transaction of $518,445.83. Following the completion of the transaction, the insider now owns 27,388 shares in the company, valued at $4,620,629.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Vagn O. Sorensen sold 5,800 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $158.50, for a total value of $919,300.00. Following the completion of the sale, the director now directly owns 25,837 shares of the company’s stock, valued at $4,095,164.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 7.95% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on RCL shares. Truist Financial lifted their price target on Royal Caribbean Cruises from $175.00 to $204.00 and gave the stock a “buy” rating in a research note on Thursday, September 26th. Wells Fargo & Company boosted their target price on Royal Caribbean Cruises from $180.00 to $232.00 and gave the stock an “overweight” rating in a research report on Wednesday. Citigroup increased their price target on shares of Royal Caribbean Cruises from $253.00 to $257.00 and gave the company a “buy” rating in a research report on Wednesday. Tigress Financial boosted their price objective on shares of Royal Caribbean Cruises from $155.00 to $210.00 and gave the stock a “buy” rating in a report on Friday, August 2nd. Finally, Macquarie upped their price objective on shares of Royal Caribbean Cruises from $189.00 to $250.00 and gave the company an “outperform” rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, Royal Caribbean Cruises currently has a consensus rating of “Moderate Buy” and an average target price of $214.00.

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.