Royal Caribbean Cruises (NYSE:RCL) Releases Earnings Results, Beats Expectations By $0.08 EPS

Royal Caribbean Cruises (NYSE:RCL – Get Rating) issued its earnings results on Thursday. The company reported ($4.57) EPS for the quarter, topping analysts’ consensus estimates of ($4.65) by $0.08, MarketWatch Earnings reports. Royal Caribbean Cruises had a negative return on equity of 67.57% and a negative net margin of 343.35%. The firm had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the prior year, the business earned ($4.44) earnings per share. The company’s revenue was up 2421.1% compared to the same quarter last year.

Shares of NYSE RCL traded down $3.74 during midday trading on Friday, hitting $69.85. The stock had a trading volume of 3,808,242 shares, compared to its average volume of 2,359,877. The stock has a 50 day simple moving average of $77.12 and a 200-day simple moving average of $79.30. Royal Caribbean Cruises has a 1 year low of $61.45 and a 1 year high of $98.27. The company has a debt-to-equity ratio of 3.71, a quick ratio of 0.47 and a current ratio of 0.49.

In other news, CEO Lisa Lutoff-Perlo sold 10,435 shares of the firm’s stock in a transaction that occurred on Thursday, February 10th. The stock was sold at an average price of $87.93, for a total value of $917,549.55. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Michael W. Bayley sold 3,637 shares of the firm’s stock in a transaction that occurred on Tuesday, March 29th. The shares were sold at an average price of $80.00, for a total value of $290,960.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,931 shares of company stock worth $1,505,730. Company insiders own 9.56% of the company’s stock.

Several large investors have recently bought and sold shares of the stock. Morgan Stanley increased its holdings in shares of Royal Caribbean Cruises by 52.9% in the second quarter. Morgan Stanley now owns 958,269 shares of the company’s stock valued at $81,722,000 after purchasing an additional 331,519 shares during the last quarter. California State Teachers Retirement System increased its holdings in shares of Royal Caribbean Cruises by 1.7% in the fourth quarter. California State Teachers Retirement System now owns 397,854 shares of the company’s stock valued at $30,595,000 after purchasing an additional 6,801 shares during the last quarter. Hardman Johnston Global Advisors LLC increased its holdings in shares of Royal Caribbean Cruises by 14.6% in the fourth quarter. Hardman Johnston Global Advisors LLC now owns 189,770 shares of the company’s stock valued at $14,593,000 after purchasing an additional 24,160 shares during the last quarter. Stifel Financial Corp increased its holdings in shares of Royal Caribbean Cruises by 46.9% in the fourth quarter. Stifel Financial Corp now owns 72,795 shares of the company’s stock valued at $5,599,000 after purchasing an additional 23,233 shares during the last quarter. Finally, Penserra Capital Management LLC increased its holdings in shares of Royal Caribbean Cruises by 91.1% in the fourth quarter. Penserra Capital Management LLC now owns 17,089 shares of the company’s stock valued at $1,313,000 after purchasing an additional 8,146 shares during the last quarter. 73.74% of the stock is owned by hedge funds and other institutional investors.

A number of analysts have recently commented on the company. Citigroup assumed coverage on Royal Caribbean Cruises in a research note on Thursday, February 10th. They issued a “buy” rating and a $105.00 target price on the stock. Deutsche Bank Aktiengesellschaft lowered their price target on Royal Caribbean Cruises from $81.00 to $76.00 in a research report on Friday. Wells Fargo & Company began coverage on Royal Caribbean Cruises in a research report on Tuesday, March 29th. They set an “overweight” rating and a $93.00 price target on the stock. Stifel Nicolaus lowered their price target on Royal Caribbean Cruises from $125.00 to $118.00 and set a “buy” rating on the stock in a research report on Monday, March 14th. Finally, Morgan Stanley lowered their price target on Royal Caribbean Cruises from $65.00 to $61.00 and set an “underweight” rating on the stock in a research report on Tuesday, February 8th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $91.11.

About Royal Caribbean Cruises (Get Rating)

Royal Caribbean Cruises Ltd. operates as a cruise company worldwide. The company operates cruises under the Royal Caribbean International, Celebrity Cruises, Azamara, and Silversea Cruises brands, which comprise a range of itineraries that call on approximately 1,000 destinations. As of February 25, 2022, it operated 61 ships.

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