Truist Securiti Weighs in on Royal Caribbean Group’s FY2021 Earnings (NYSE:RCL)

Royal Caribbean Group (NYSE:RCL) – Research analysts at Truist Securiti cut their FY2021 EPS estimates for Royal Caribbean Group in a note issued to investors on Monday, November 22nd. Truist Securiti analyst P. Scholes now anticipates that the company will earn ($18.06) per share for the year, down from their prior forecast of ($16.55). Truist Securiti also issued estimates for Royal Caribbean Group’s Q4 2021 earnings at ($3.63) EPS, Q1 2022 earnings at ($1.97) EPS, Q2 2022 earnings at ($0.06) EPS, Q3 2022 earnings at $2.08 EPS, Q4 2022 earnings at $0.47 EPS, FY2022 earnings at $0.52 EPS, Q1 2023 earnings at $0.64 EPS, Q2 2023 earnings at $1.54 EPS and Q3 2023 earnings at $3.21 EPS.

A number of other brokerages have also commented on RCL. Truist raised their price target on Royal Caribbean Group from $72.00 to $80.00 and gave the company a “hold” rating in a report on Wednesday, September 22nd. Deutsche Bank Aktiengesellschaft lowered their target price on Royal Caribbean Group from $83.00 to $81.00 and set a “hold” rating on the stock in a report on Monday, November 1st. Stifel Nicolaus lifted their target price on Royal Caribbean Group from $95.00 to $111.00 and gave the stock a “buy” rating in a report on Friday, September 24th. Finally, Truist Securities lifted their target price on Royal Caribbean Group from $72.00 to $80.00 and gave the stock a “hold” rating in a report on Wednesday, September 22nd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $91.50.

Shares of RCL opened at $78.34 on Wednesday. The firm has a market capitalization of $19.96 billion, a price-to-earnings ratio of -3.62 and a beta of 2.61. The company has a debt-to-equity ratio of 3.07, a quick ratio of 0.77 and a current ratio of 0.79. Royal Caribbean Group has a one year low of $64.26 and a one year high of $99.24. The stock’s fifty day moving average is $86.50 and its 200-day moving average is $84.26.

Royal Caribbean Group (NYSE:RCL) last issued its quarterly earnings results on Thursday, October 28th. The company reported ($4.91) EPS for the quarter, missing analysts’ consensus estimates of ($4.10) by ($0.81). The business had revenue of $456.96 million for the quarter, compared to analyst estimates of $618.88 million. Royal Caribbean Group had a negative net margin of 902.44% and a negative return on equity of 58.76%. Royal Caribbean Group’s revenue for the quarter was down 1456.4% on a year-over-year basis. During the same period last year, the business posted ($5.62) earnings per share.

A number of hedge funds and other institutional investors have recently made changes to their positions in RCL. Capital International Investors boosted its position in Royal Caribbean Group by 41.9% during the 2nd quarter. Capital International Investors now owns 20,912,689 shares of the company’s stock worth $1,783,114,000 after acquiring an additional 6,170,103 shares during the period. Voya Investment Management LLC boosted its position in Royal Caribbean Group by 32.7% during the 3rd quarter. Voya Investment Management LLC now owns 3,488,790 shares of the company’s stock worth $310,328,000 after acquiring an additional 860,273 shares during the period. Scout Investments Inc. acquired a new stake in Royal Caribbean Group during the 3rd quarter worth about $54,369,000. Zimmer Partners LP acquired a new stake in Royal Caribbean Group during the 2nd quarter worth about $47,970,000. Finally, Neuberger Berman Group LLC acquired a new stake in Royal Caribbean Group during the 3rd quarter worth about $45,438,000. Hedge funds and other institutional investors own 71.38% of the company’s stock.

In related news, CEO Lisa Lutoff-Perlo sold 2,591 shares of the stock in a transaction on Monday, October 11th. The stock was sold at an average price of $87.45, for a total value of $226,582.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 9.56% of the company’s stock.

About Royal Caribbean Group

Royal Caribbean Cruises Group operates as a global cruise company. It controls and operates the following global cruise brands: Royal Caribbean International, Celebrity Cruises, Azamara, and Silversea Cruises. The firm also holds interest in TUI Cruises, Pullmantur, and SkySea Cruises brands. The company was founded in by Arne Wilhelmsen in 1968 and is headquartered in Miami, FL.

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Earnings History and Estimates for Royal Caribbean Group (NYSE:RCL)

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