Wedbush Comments on Royal Caribbean Cruises Ltd’s FY2019 Earnings (NYSE:RCL)

Royal Caribbean Cruises Ltd (NYSE:RCL) – Stock analysts at Wedbush cut their FY2019 earnings per share estimates for Royal Caribbean Cruises in a research report issued to clients and investors on Wednesday, December 18th, Zacks Investment Research reports. Wedbush analyst J. Hardiman now anticipates that the company will earn $9.55 per share for the year, down from their previous estimate of $9.56. Wedbush also issued estimates for Royal Caribbean Cruises’ Q1 2020 earnings at $1.22 EPS, Q3 2020 earnings at $4.96 EPS, FY2020 earnings at $10.82 EPS and FY2021 earnings at $12.10 EPS.

Several other research analysts have also recently issued reports on RCL. Argus raised shares of Royal Caribbean Cruises from a “hold” rating to a “buy” rating and set a $160.00 target price for the company in a report on Thursday. Nomura reiterated a “buy” rating and set a $150.00 price objective on shares of Royal Caribbean Cruises in a research note on Wednesday, December 11th. ValuEngine lowered Royal Caribbean Cruises from a “hold” rating to a “sell” rating in a research note on Friday, October 25th. Macquarie upgraded Royal Caribbean Cruises from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $126.00 to $132.00 in a research note on Friday, October 18th. Finally, Deutsche Bank reiterated a “buy” rating and set a $138.00 price objective on shares of Royal Caribbean Cruises in a research note on Thursday, October 31st. Three analysts have rated the stock with a sell rating and eight have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $147.90.

RCL stock traded down $0.08 on Friday, hitting $133.11. 1,244,666 shares of the company’s stock were exchanged, compared to its average volume of 1,215,396. The firm has a 50 day moving average price of $126.90 and a two-hundred day moving average price of $114.71. The stock has a market cap of $27.91 billion, a P/E ratio of 15.02, a price-to-earnings-growth ratio of 1.29 and a beta of 1.45. Royal Caribbean Cruises has a 12-month low of $100.47 and a 12-month high of $135.06. The company has a debt-to-equity ratio of 0.79, a quick ratio of 0.15 and a current ratio of 0.17.

Royal Caribbean Cruises (NYSE:RCL) last announced its earnings results on Wednesday, October 30th. The company reported $4.27 earnings per share for the quarter, missing the Thomson Reuters’ 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 business had revenue of $3.19 billion for the quarter, compared to analysts’ expectations of $3.22 billion. During the same quarter last year, the firm earned $3.98 earnings per share. The firm’s quarterly revenue was up 14.0% compared to the same quarter last year.

The firm also recently announced a quarterly dividend, which was paid on Monday, January 6th. Stockholders of record on Friday, December 20th were given a dividend of $0.78 per share. This is a positive change from Royal Caribbean Cruises’s previous quarterly dividend of $0.70. The ex-dividend date of this dividend was Thursday, December 19th. This represents a $3.12 dividend on an annualized basis and a dividend yield of 2.34%. Royal Caribbean Cruises’s dividend payout ratio (DPR) is 35.21%.

In other Royal Caribbean Cruises news, CEO Richard D. Fain sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $113.13, for a total transaction of $2,262,600.00. Following the completion of the sale, the chief executive officer now directly owns 826,351 shares in the company, valued at approximately $93,485,088.63. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, 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 transaction, the chief executive officer now directly owns 58,335 shares of the company’s stock, valued at approximately $7,000,200. The disclosure for this sale can be found here. Insiders sold a total of 70,928 shares of company stock worth $8,606,360 in the last three months. 13.07% of the stock is owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of RCL. Patten & Patten Inc. TN purchased a new stake in Royal Caribbean Cruises in the fourth quarter valued at $210,000. Norman Fields Gottscho Capital Management LLC acquired a new stake in shares of Royal Caribbean Cruises during the 4th quarter worth about $852,000. Clear Street Markets LLC acquired a new stake in shares of Royal Caribbean Cruises during the 4th quarter worth about $574,000. BKD Wealth Advisors LLC increased its position in shares of Royal Caribbean Cruises by 3.1% during the 4th quarter. BKD Wealth Advisors LLC now owns 4,072 shares of the company’s stock worth $544,000 after purchasing an additional 124 shares during the last quarter. Finally, Advisors Capital Management LLC increased its position in shares of Royal Caribbean Cruises by 20.7% during the 4th quarter. Advisors Capital Management LLC now owns 39,984 shares of the company’s stock worth $5,338,000 after purchasing an additional 6,857 shares during the last quarter. 72.81% of the stock is owned by institutional investors and hedge funds.

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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