$3.23 Billion in Sales Expected for Royal Caribbean Cruises Ltd (NYSE:RCL) This Quarter

Brokerages expect that Royal Caribbean Cruises Ltd (NYSE:RCL) will announce $3.23 billion in sales for the current fiscal quarter, according to Zacks. Seven analysts have issued estimates for Royal Caribbean Cruises’ earnings, with the highest sales estimate coming in at $3.24 billion and the lowest estimate coming in at $3.20 billion. Royal Caribbean Cruises reported sales of $2.80 billion during the same quarter last year, which indicates a positive year over year growth rate of 15.4%. The firm 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 $10.98 billion for the current financial year, with estimates ranging from $10.87 billion to $11.01 billion. For the next fiscal year, analysts forecast that the firm will post sales of $11.83 billion, with estimates ranging from $11.60 billion to $12.08 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that follow Royal Caribbean Cruises.

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

Several brokerages have weighed in on RCL. Nomura lowered their target price on Royal Caribbean Cruises from $152.00 to $150.00 and set a “buy” rating for the company in a report on Friday, June 7th. Deutsche Bank decreased their price objective on Royal Caribbean Cruises from $145.00 to $139.00 and set a “buy” rating for the company in a research note on Friday, July 19th. Stifel Nicolaus upped their price objective on Royal Caribbean Cruises from $150.00 to $151.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. Argus cut Royal Caribbean Cruises from a “buy” rating to a “hold” rating in a research note on Tuesday, August 13th. Finally, ValuEngine cut Royal Caribbean Cruises from a “hold” rating to a “sell” rating in a research note on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $142.50.

In other news, CEO Richard D. Fain sold 20,000 shares of the stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $108.46, for a total value of $2,169,200.00. Following the transaction, the chief executive officer now directly owns 905,651 shares of the company’s stock, valued at $98,226,907.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 13.07% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP boosted its position in Royal Caribbean Cruises by 3.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,530,247 shares of the company’s stock worth $247,407,000 after buying an additional 77,740 shares during the period. Geode Capital Management LLC lifted its position in shares of Royal Caribbean Cruises by 8.2% during the 4th quarter. Geode Capital Management LLC now owns 2,198,984 shares of the company’s stock valued at $214,659,000 after acquiring an additional 166,909 shares during the period. First Manhattan Co. acquired a new position in shares of Royal Caribbean Cruises during the 1st quarter valued at $40,000. Virtu Financial LLC acquired a new position in shares of Royal Caribbean Cruises during the 1st quarter valued at $204,000. Finally, Retirement Systems of Alabama lifted its position in shares of Royal Caribbean Cruises by 1.1% during the 1st quarter. Retirement Systems of Alabama now owns 79,873 shares of the company’s stock valued at $9,155,000 after acquiring an additional 851 shares during the period. 72.85% of the stock is currently owned by institutional investors.

Royal Caribbean Cruises stock traded down $0.62 during mid-day trading on Monday, hitting $107.05. The company’s stock had a trading volume of 43,216 shares, compared to its average volume of 1,920,964. Royal Caribbean Cruises has a one year low of $89.48 and a one year high of $133.60. The stock has a market cap of $22.58 billion, a PE ratio of 12.09, a P/E/G ratio of 1.05 and a beta of 1.34. The company has a 50 day moving average of $111.03 and a 200-day moving average of $117.77. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.15 and a current ratio of 0.17.

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.

Further Reading: The components of the Stochastic Momentum Index

Get a free copy of the Zacks research report on Royal Caribbean Cruises (RCL)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Royal Caribbean Cruises (NYSE:RCL)

Receive News & Ratings for Royal Caribbean Cruises Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Royal Caribbean Cruises and related companies with MarketBeat.com's FREE daily email newsletter.