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

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

Royal Caribbean Cruises Stock Up 2.3 %

Shares of RCL traded up $3.12 during mid-day 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 quick ratio of 0.16, a current ratio of 0.19 and a debt-to-equity ratio of 4.03. The company has a market cap of $36.09 billion, a price-to-earnings ratio of 22.58, a price-to-earnings-growth ratio of 0.50 and a beta of 2.52. The business has a fifty day moving average of $129.71 and a 200 day moving average of $117.11. Royal Caribbean Cruises has a 1 year low of $59.38 and a 1 year high of $141.70.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on RCL shares. Susquehanna upped their price objective on shares of Royal Caribbean Cruises from $150.00 to $160.00 and gave the company a “positive” rating in a research note on Friday. Barclays boosted 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 report on Friday. UBS Group upped their price objective on shares of Royal Caribbean Cruises from $148.00 to $154.00 and gave the company a “buy” rating in a research report on Friday, February 16th. Mizuho lifted their target price on Royal Caribbean Cruises from $164.00 to $168.00 and gave the stock a “buy” rating in a research report on Friday. Finally, Wells Fargo & Company raised their price objective on Royal Caribbean Cruises from $153.00 to $159.00 and gave the company an “overweight” rating in a research note on Friday. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, Royal Caribbean Cruises has a consensus rating of “Moderate Buy” and an average price target of $138.76.

Insider Buying and Selling

In related news, CEO Michael W. Bayley sold 11,753 shares of the 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 sale, the chief executive officer now directly owns 166,537 shares in the company, valued at $19,319,957.37. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 8.70% of the stock is currently owned by corporate 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.