Royal Caribbean Cruises Ltd (NYSE:RCL) Expected to Post Quarterly Sales of $2.53 Billion

Analysts forecast that Royal Caribbean Cruises Ltd (NYSE:RCL) will post sales of $2.53 billion for the current quarter, Zacks reports. Seven analysts have issued estimates for Royal Caribbean Cruises’ earnings. The highest sales estimate is $2.55 billion and the lowest is $2.49 billion. Royal Caribbean Cruises posted sales of $2.33 billion during the same quarter last year, which suggests a positive year-over-year growth rate of 8.6%. The business is expected to report its next quarterly earnings report on Wednesday, January 29th.

According to Zacks, analysts expect that Royal Caribbean Cruises will report full-year sales of $10.96 billion for the current financial year, with estimates ranging from $10.87 billion to $10.98 billion. For the next financial year, analysts anticipate that the business will post sales of $11.83 billion, with estimates ranging from $11.60 billion to $11.96 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 quarterly earnings results on Wednesday, October 30th. The company reported $4.27 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $4.31 by ($0.04). Royal Caribbean Cruises had a return on equity of 17.67% and a net margin of 17.85%. The firm had revenue of $3.19 billion during the quarter, compared to analysts’ expectations of $3.22 billion. During the same quarter last year, the business earned $3.98 earnings per share. The business’s quarterly revenue was up 14.0% on a year-over-year basis.

Several research analysts have issued reports on RCL shares. Zacks Investment Research raised Royal Caribbean Cruises from a “sell” rating to a “hold” rating and set a $113.00 target price on the stock in a research report on Monday, October 14th. Macquarie raised shares of Royal Caribbean Cruises from a “neutral” rating to an “outperform” rating and upped their price target for the company from $126.00 to $132.00 in a research report on Friday, October 18th. ValuEngine lowered shares of Royal Caribbean Cruises from a “hold” rating to a “sell” rating in a research report on Friday, October 25th. Nomura reiterated a “buy” rating and issued a $150.00 price objective on shares of Royal Caribbean Cruises in a research note on Wednesday. Finally, Deutsche Bank reissued a “buy” rating and issued a $138.00 price objective on shares of Royal Caribbean Cruises in a report on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the company. Royal Caribbean Cruises currently has an average rating of “Hold” and an average target price of $144.33.

In related news, CEO Lawrence R. Pimentel sold 10,928 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $120.00, for a total value of $1,311,360.00. Following the completion of the sale, the chief executive officer now directly owns 58,335 shares of the company’s stock, valued at approximately $7,000,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Richard D. Fain sold 20,000 shares of the stock in a transaction that occurred on Thursday, December 5th. The stock was sold at an average price of $120.55, for a total transaction of $2,411,000.00. Following the completion of the sale, the chief executive officer now directly owns 805,751 shares of the company’s stock, valued at $97,133,283.05. The disclosure for this sale can be found here. Insiders have sold 70,928 shares of company stock worth $8,084,960 over the last quarter. 13.07% of the stock is owned by company insiders.

Large investors have recently modified their holdings of the business. FinTrust Capital Advisors LLC raised its stake in Royal Caribbean Cruises by 5,040.0% during the second quarter. FinTrust Capital Advisors LLC now owns 257 shares of the company’s stock worth $31,000 after purchasing an additional 252 shares during the period. Cullen Frost Bankers Inc. bought a new stake in Royal Caribbean Cruises during the third quarter worth approximately $31,000. North Star Investment Management Corp. acquired a new position in Royal Caribbean Cruises in the third quarter worth approximately $33,000. FTB Advisors Inc. grew its position in Royal Caribbean Cruises by 33.5% in the third quarter. FTB Advisors Inc. now owns 367 shares of the company’s stock worth $39,000 after buying an additional 92 shares during the last quarter. Finally, Financial Advantage Inc. bought a new position in shares of Royal Caribbean Cruises in the third quarter valued at $40,000. 72.95% of the stock is currently owned by institutional investors and hedge funds.

Royal Caribbean Cruises stock traded up $0.65 during mid-day trading on Wednesday, reaching $125.64. 2,482,637 shares of the stock traded hands, compared to its average volume of 1,674,389. Royal Caribbean Cruises has a 12-month low of $89.48 and a 12-month high of $131.04. The business’s 50-day moving average is $117.00 and its 200-day moving average is $113.31. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.17 and a quick ratio of 0.15. The stock has a market capitalization of $25.84 billion, a PE ratio of 14.18, a price-to-earnings-growth ratio of 1.32 and a beta of 1.41.

The business also recently announced a quarterly dividend, which will be paid on Monday, January 6th. Investors of record on Friday, December 20th will be given a dividend of $0.78 per share. The ex-dividend date of this dividend is Thursday, December 19th. This is an increase from Royal Caribbean Cruises’s previous quarterly dividend of $0.70. This represents a $3.12 annualized dividend and a yield of 2.48%. Royal Caribbean Cruises’s payout ratio is 35.21%.

About Royal Caribbean Cruises

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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