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

Royal Caribbean Cruises (NYSE:RCL) released its quarterly earnings data on Thursday. The company reported $1.77 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.44, Briefing.com reports. Royal Caribbean Cruises had a net margin of 12.22% and a return on equity of 45.55%. The firm had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.69 billion. During the same quarter in the prior year, the company posted ($0.23) earnings per share. The business’s revenue was up 29.2% on a year-over-year basis.

Royal Caribbean Cruises Trading Up 1.9 %

NYSE:RCL traded up $2.58 during trading hours on Friday, hitting $140.05. The company had a trading volume of 2,038,754 shares, compared to its average volume of 2,775,613. The company has a market capitalization of $35.95 billion, a PE ratio of 22.48, a price-to-earnings-growth ratio of 0.50 and a beta of 2.52. The stock has a 50-day moving average price of $129.71 and a 200 day moving average price of $117.11. Royal Caribbean Cruises has a 52 week low of $59.38 and a 52 week high of $141.70. The company has a debt-to-equity ratio of 4.03, a current ratio of 0.19 and a quick ratio of 0.16.

Analysts Set New Price Targets

Several research firms have weighed in on RCL. The Goldman Sachs Group restated a “buy” rating on shares of Royal Caribbean Cruises in a report on Monday, April 1st. Barclays upped their target price on shares of Royal Caribbean Cruises from $154.00 to $165.00 and gave the stock an “overweight” rating in a research note on Friday. Wells Fargo & Company increased their price target on shares of Royal Caribbean Cruises from $153.00 to $159.00 and gave the company an “overweight” rating in a research report on Friday. Macquarie increased their price target on shares of Royal Caribbean Cruises from $145.00 to $160.00 and gave the company an “outperform” rating in a research report on Friday, March 15th. Finally, UBS Group increased 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 report on Friday, February 16th. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $138.76.

Insider Buying and Selling at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, CEO Michael W. Bayley sold 11,753 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $116.01, for a total transaction 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 $19,319,957.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 8.70% of the company’s stock.

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.