Q1 2024 Earnings Forecast for Royal Caribbean Cruises Ltd. Issued By William Blair (NYSE:RCL)

Royal Caribbean Cruises Ltd. (NYSE:RCL) – Equities research analysts at William Blair increased their Q1 2024 EPS estimates for Royal Caribbean Cruises in a note issued to investors on Wednesday, April 17th. William Blair analyst S. Zackfia now anticipates that the company will post earnings per share of $1.37 for the quarter, up from their previous estimate of $1.35. The consensus estimate for Royal Caribbean Cruises’ current full-year earnings is $10.01 per share.

RCL has been the topic of a number of other research reports. Susquehanna lifted their price target on shares of Royal Caribbean Cruises from $120.00 to $150.00 and gave the stock a “positive” rating in a research note on Wednesday, January 31st. The Goldman Sachs Group reiterated a “buy” rating on shares of Royal Caribbean Cruises in a research note on Monday, April 1st. Barclays lifted their price target on shares of Royal Caribbean Cruises from $150.00 to $154.00 and gave the stock an “overweight” rating in a research note on Thursday, April 11th. UBS Group lifted their price target on shares of Royal Caribbean Cruises from $148.00 to $154.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Finally, Macquarie lifted their price target on shares of Royal Caribbean Cruises from $145.00 to $160.00 and gave the stock an “outperform” rating in a research note on Friday, March 15th. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, Royal Caribbean Cruises presently has an average rating of “Moderate Buy” and a consensus price target of $136.94.

Royal Caribbean Cruises Trading Up 1.2 %

Shares of RCL stock opened at $129.21 on Monday. Royal Caribbean Cruises has a 1 year low of $59.37 and a 1 year high of $141.70. The firm’s fifty day simple moving average is $128.21 and its 200 day simple moving average is $116.20. The firm has a market capitalization of $33.17 billion, a P/E ratio of 20.77, a price-to-earnings-growth ratio of 0.47 and a beta of 2.52. The company has a current ratio of 0.19, a quick ratio of 0.16 and a debt-to-equity ratio of 4.03.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings results on Thursday, February 1st. The company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.12. Royal Caribbean Cruises had a net margin of 12.22% and a return on equity of 45.55%. The company had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.36 billion. During the same quarter last year, the firm posted ($1.12) earnings per share. The company’s quarterly revenue was up 28.0% compared to the same quarter last year.

Institutional Trading of Royal Caribbean Cruises

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Nordea Investment Management AB raised its holdings in Royal Caribbean Cruises by 120.9% during the 4th quarter. Nordea Investment Management AB now owns 194,018 shares of the company’s stock worth $25,149,000 after purchasing an additional 106,203 shares during the last quarter. Geneos Wealth Management Inc. increased its stake in shares of Royal Caribbean Cruises by 1,672.8% in the 4th quarter. Geneos Wealth Management Inc. now owns 18,845 shares of the company’s stock valued at $2,440,000 after acquiring an additional 17,782 shares during the last quarter. Retireful LLC bought a new stake in shares of Royal Caribbean Cruises in the 4th quarter valued at about $1,977,000. Bank of New York Mellon Corp increased its stake in shares of Royal Caribbean Cruises by 0.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 1,533,566 shares of the company’s stock valued at $141,303,000 after acquiring an additional 10,095 shares during the last quarter. Finally, Redhawk Wealth Advisors Inc. bought a new stake in shares of Royal Caribbean Cruises in the 4th quarter valued at about $1,120,000. 87.53% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Royal Caribbean Cruises news, CEO Michael W. Bayley sold 11,753 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $19,319,957.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 8.70% of the stock is owned by corporate insiders.

Royal Caribbean Cruises Company Profile

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.