Royal Caribbean Cruises Ltd. (NYSE:RCL) – Investment analysts at Wedbush cut their Q3 2016 earnings per share (EPS) estimates for Royal Caribbean Cruises in a research note issued on Friday. Wedbush analyst J. Hardiman now expects that the firm will post earnings of $3.11 per share for the quarter, down from their previous forecast of $3.12. Wedbush also issued estimates for Royal Caribbean Cruises’ FY2016 earnings at $5.97 EPS and FY2017 earnings at $6.77 EPS.

Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.07. Royal Caribbean Cruises had a net margin of 9.05% and a return on equity of 14.76%. The company earned $2.11 billion during the quarter, compared to analysts’ expectations of $2.17 billion. During the same period last year, the company posted $0.84 EPS. Royal Caribbean Cruises’s revenue was up 2.3% on a year-over-year basis.

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

RCL has been the topic of a number of other research reports. Deutsche Bank AG initiated coverage on shares of Royal Caribbean Cruises in a research note on Thursday, September 29th. They set a “hold” rating and a $81.00 price target on the stock. Stifel Nicolaus reiterated a “buy” rating on shares of Royal Caribbean Cruises in a research report on Friday, September 9th. Zacks Investment Research upgraded shares of Royal Caribbean Cruises from a “sell” rating to a “hold” rating and set a $84.00 price objective on the stock in a research report on Monday, October 3rd. Sanford C. Bernstein initiated coverage on shares of Royal Caribbean Cruises in a research report on Thursday, September 8th. They set an “outperform” rating and a $90.00 price objective on the stock. Finally, Macquarie initiated coverage on shares of Royal Caribbean Cruises in a research report on Tuesday, October 4th. They set an “outperform” rating and a $88.00 price objective on the stock. One analyst has rated the stock with a sell rating, five have assigned a hold rating and eighteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average target price of $93.12.

Royal Caribbean Cruises (NYSE:RCL) opened at 68.79 on Monday. The stock has a market capitalization of $14.81 billion, a PE ratio of 19.63 and a beta of 1.65. Royal Caribbean Cruises has a 12 month low of $64.21 and a 12 month high of $103.40. The company’s 50-day moving average is $70.71 and its 200-day moving average is $73.46.

Several hedge funds have recently added to or reduced their stakes in RCL. MU Investments Co. Ltd. purchased a new stake in Royal Caribbean Cruises during the second quarter valued at approximately $109,000. Pinkerton Retirement Specialists LLC bought a new position in shares of Royal Caribbean Cruises during the second quarter valued at approximately $142,000. Mizuho Asset Management Co. Ltd. raised its position in shares of Royal Caribbean Cruises by 86.3% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 2,321 shares of the company’s stock valued at $156,000 after buying an additional 1,075 shares during the last quarter. Invictus RG bought a new position in shares of Royal Caribbean Cruises during the first quarter valued at approximately $164,000. Finally, Pacer Advisors Inc. raised its position in shares of Royal Caribbean Cruises by 7.5% in the second quarter. Pacer Advisors Inc. now owns 3,077 shares of the company’s stock valued at $207,000 after buying an additional 216 shares during the last quarter. 75.04% of the stock is owned by institutional investors and hedge funds.

In other news, Director Vagn O. Sorensen purchased 1,100 shares of the firm’s stock in a transaction on Thursday, August 18th. The stock was acquired at an average cost of $70.50 per share, with a total value of $77,550.00. Following the completion of the transaction, the director now owns 18,871 shares in the company, valued at approximately $1,330,405.50. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Richard D. Fain purchased 29,190 shares of the firm’s stock in a transaction on Wednesday, August 3rd. The shares were purchased at an average cost of $68.52 per share, with a total value of $2,000,098.80. Following the completion of the transaction, the chief executive officer now owns 1,068,881 shares of the company’s stock, valued at approximately $73,239,726.12. The disclosure for this purchase can be found here. Company insiders own 16.80% of the company’s stock.

The company also recently declared a quarterly dividend, which was paid on Thursday, October 13th. Shareholders of record on Thursday, September 29th were given a dividend of $0.48 per share. This represents a $1.92 annualized dividend and a dividend yield of 2.79%. This is a positive change from Royal Caribbean Cruises’s previous quarterly dividend of $0.38. The ex-dividend date was Tuesday, September 27th. Royal Caribbean Cruises’s dividend payout ratio is presently 55.01%.

About Royal Caribbean Cruises

Royal Caribbean Cruises Ltd. is a cruise company. The Company owns various brands, such as Royal Caribbean International, Celebrity Cruises, Pullmantur, Azamara Club Cruises, CDF Croisieres de France and joint venture interest in TUI Cruises. It operates approximately 23 ships with an aggregate capacity of approximately 68,600 berths under its Royal Caribbean International brand, offering cruise itineraries that range from 2 to 24 nights.

5 Day Chart for NYSE:RCL

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