Royal Caribbean Cruises (NYSE:RCL) Announces Quarterly Earnings Results

Royal Caribbean Cruises (NYSE:RCL) posted its earnings results 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. 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 business’s revenue for the quarter was up 29.2% compared to the same quarter last year. During the same period last year, the business posted ($0.23) earnings per share.

Royal Caribbean Cruises Stock Performance

Shares of RCL stock traded up $2.39 during midday trading on Friday, hitting $139.86. 1,668,810 shares of the company were exchanged, compared to its average volume of 2,770,885. The firm has a market capitalization of $35.90 billion, a P/E ratio of 22.31, a PEG ratio of 0.50 and a beta of 2.52. The company has a debt-to-equity ratio of 4.03, a quick ratio of 0.16 and a current ratio of 0.19. The firm’s 50 day moving average price is $129.71 and its two-hundred day moving average price is $117.11. Royal Caribbean Cruises has a 52 week low of $59.38 and a 52 week high of $141.70.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on RCL shares. Mizuho increased their target price on shares of Royal Caribbean Cruises from $164.00 to $168.00 and gave the stock a “buy” rating in a report on Friday. The Goldman Sachs Group restated a “buy” rating on shares of Royal Caribbean Cruises in a report on Monday, April 1st. Macquarie raised their price objective on shares of Royal Caribbean Cruises from $145.00 to $160.00 and gave the stock an “outperform” rating in a report on Friday, March 15th. Morgan Stanley raised their price objective on shares of Royal Caribbean Cruises from $100.00 to $115.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 7th. Finally, Susquehanna raised their price objective 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 research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $138.41.

Insider Buying and Selling

In related news, CEO Michael W. Bayley sold 11,753 shares of Royal Caribbean Cruises stock in a transaction dated Tuesday, February 13th. The shares were 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 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 Securities & Exchange Commission, 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.