$2.05 Billion in Sales Expected for Royal Caribbean Cruises (RCL) This Quarter

Brokerages expect that Royal Caribbean Cruises (NYSE:RCL) will report $2.05 billion in sales for the current fiscal quarter, Zacks reports. Five analysts have issued estimates for Royal Caribbean Cruises’ earnings. The lowest sales estimate is $2.04 billion and the highest is $2.06 billion. Royal Caribbean Cruises reported sales of $2.01 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 2%. The firm is expected to announce its next quarterly earnings report on Friday, April 27th.

On average, analysts expect that Royal Caribbean Cruises will report full year sales of $2.05 billion for the current year, with estimates ranging from $9.38 billion to $9.51 billion. For the next fiscal year, analysts expect that the firm will post sales of $10.31 billion per share, with estimates ranging from $10.17 billion to $10.53 billion. Zacks’ sales averages are an average based on a survey of analysts that follow Royal Caribbean Cruises.

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Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings results on Wednesday, January 24th. The company reported $1.34 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.20 by $0.14. Royal Caribbean Cruises had a return on equity of 16.22% and a net margin of 18.51%. The company had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.97 billion. During the same period in the previous year, the company posted $1.23 earnings per share. Royal Caribbean Cruises’s revenue for the quarter was up 5.0% on a year-over-year basis.

A number of brokerages have issued reports on RCL. Zacks Investment Research raised Royal Caribbean Cruises from a “hold” rating to a “buy” rating and set a $132.00 price target for the company in a report on Wednesday, March 28th. ValuEngine raised Royal Caribbean Cruises from a “hold” rating to a “buy” rating in a report on Friday, February 2nd. Bank of America boosted their price target on Royal Caribbean Cruises from $135.00 to $138.00 and gave the company a “neutral” rating in a report on Thursday, January 25th. JPMorgan Chase boosted their price target on Royal Caribbean Cruises from $139.00 to $150.00 and gave the company an “overweight” rating in a report on Thursday, January 25th. Finally, Stifel Nicolaus boosted their price target on Royal Caribbean Cruises from $150.00 to $152.00 and gave the company a “buy” rating in a report on Thursday, January 25th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $137.00.

In related news, CEO Bradley H. Stein sold 8,528 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The stock was sold at an average price of $124.34, for a total transaction of $1,060,371.52. Following the completion of the sale, the chief executive officer now directly owns 17,341 shares in the company, valued at $2,156,179.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Jason T. Liberty sold 5,892 shares of the business’s stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $131.19, for a total value of $772,971.48. Following the sale, the chief financial officer now owns 43,972 shares of the company’s stock, valued at $5,768,686.68. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 120,799 shares of company stock valued at $15,556,896. Corporate insiders own 15.30% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Stifel Financial Corp increased its position in shares of Royal Caribbean Cruises by 10.1% during the third quarter. Stifel Financial Corp now owns 97,388 shares of the company’s stock worth $11,551,000 after purchasing an additional 8,960 shares in the last quarter. Invictus RG increased its position in shares of Royal Caribbean Cruises by 167.5% during the third quarter. Invictus RG now owns 2,539 shares of the company’s stock worth $301,000 after purchasing an additional 1,590 shares in the last quarter. Jefferies Group LLC increased its position in shares of Royal Caribbean Cruises by 104.3% during the fourth quarter. Jefferies Group LLC now owns 105,287 shares of the company’s stock worth $12,559,000 after purchasing an additional 53,763 shares in the last quarter. Schroder Investment Management Group increased its position in shares of Royal Caribbean Cruises by 39.5% during the fourth quarter. Schroder Investment Management Group now owns 84,602 shares of the company’s stock worth $10,091,000 after purchasing an additional 23,956 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in shares of Royal Caribbean Cruises by 12.3% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 13,993 shares of the company’s stock worth $1,659,000 after purchasing an additional 1,530 shares in the last quarter. Hedge funds and other institutional investors own 74.41% of the company’s stock.

NYSE:RCL traded down $2.11 during trading hours on Friday, reaching $115.63. The company had a trading volume of 441,660 shares, compared to its average volume of 1,504,504. Royal Caribbean Cruises has a 1-year low of $93.86 and a 1-year high of $135.65. The company has a market capitalization of $25,166.81, a PE ratio of 15.37, a PEG ratio of 0.64 and a beta of 1.23. The company has a current ratio of 0.18, a quick ratio of 0.15 and a debt-to-equity ratio of 0.59.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 5th. Stockholders of record on Wednesday, March 7th will be paid a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a dividend yield of 2.08%. The ex-dividend date of this dividend is Tuesday, March 6th. Royal Caribbean Cruises’s payout ratio is 31.87%.

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About Royal Caribbean Cruises

Royal Caribbean Cruises Ltd. operates as a cruise company. The company operates cruises under the Royal Caribbean International, Celebrity Cruises, and Azamara Club 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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Earnings History and Estimates for Royal Caribbean Cruises (NYSE:RCL)

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