Royal Caribbean Cruises (NYSE:RCL) Announces Quarterly Earnings Results, Beats Estimates By $0.44 EPS

Royal Caribbean Cruises (NYSE:RCL) announced its quarterly earnings results on Thursday. The company reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.44, Briefing.com reports. Royal Caribbean Cruises had a return on equity of 45.55% and a net margin of 12.22%. The business had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.69 billion. During the same period in the previous year, the firm earned ($0.23) EPS. The business’s quarterly revenue was up 29.2% on a year-over-year basis.

Royal Caribbean Cruises Stock Up 2.3 %

Royal Caribbean Cruises stock traded up $3.12 during midday trading on Friday, reaching $140.59. The company’s stock had a trading volume of 2,757,756 shares, compared to its average volume of 2,777,543. The company has a debt-to-equity ratio of 4.03, a current ratio of 0.19 and a quick ratio of 0.16. The stock’s 50-day simple moving average is $129.71 and its 200-day simple moving average is $117.11. Royal Caribbean Cruises has a 52-week low of $59.38 and a 52-week high of $141.70. The stock has a market capitalization of $36.09 billion, a P/E ratio of 22.58, a PEG ratio of 0.50 and a beta of 2.52.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Royal Caribbean Cruises in a research note on Monday, April 1st. Morgan Stanley lifted their price target on Royal Caribbean Cruises from $100.00 to $115.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 7th. Wells Fargo & Company raised their price objective on shares of Royal Caribbean Cruises from $153.00 to $159.00 and gave the company an “overweight” rating in a research note on Friday. UBS Group upped their target price on shares of Royal Caribbean Cruises from $148.00 to $154.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Finally, Susquehanna raised their target price on shares of Royal Caribbean Cruises from $150.00 to $160.00 and gave the stock a “positive” rating in a report on Friday. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $138.76.

Insider Activity at Royal Caribbean Cruises

In other news, CEO Michael W. Bayley sold 11,753 shares of the business’s stock in a transaction dated Tuesday, February 13th. The stock was 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 of the company’s stock, valued at approximately $19,319,957.37. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 8.70% of the stock is currently owned by insiders.

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.