Royal Caribbean Cruises Ltd. (RCL) Set to Announce Quarterly Earnings on Friday
Royal Caribbean Cruises Ltd. (NYSE:RCL) is set to announce its earnings results before the market opens on Friday, October 21st. Analysts expect the company to announce earnings of $3.10 per share for the quarter. Royal Caribbean Cruises has set its Q3 guidance at $3.10 EPS and its FY16 guidance at $6.00-$6.10 EPS.
Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $1.09 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.02 by $0.07. The company earned $2.11 billion during the quarter, compared to analysts’ expectations of $2.17 billion. Royal Caribbean Cruises had a return on equity of 14.76% and a net margin of 9.05%. Royal Caribbean Cruises’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.84 EPS. On average, analysts expect Royal Caribbean Cruises to post $6.04 EPS for the current fiscal year and $6.88 EPS for the next fiscal year.
Royal Caribbean Cruises Ltd. (NYSE:RCL) opened at 70.05 on Wednesday. The stock has a 50 day moving average price of $70.71 and a 200 day moving average price of $73.37. Royal Caribbean Cruises Ltd. has a one year low of $64.21 and a one year high of $103.40. The company has a market cap of $15.08 billion, a PE ratio of 19.99 and a beta of 1.65.
The company also recently announced a quarterly dividend, which was paid on Thursday, October 13th. Investors of record on Thursday, September 29th were issued a $0.48 dividend. This is a positive change from Royal Caribbean Cruises’s previous quarterly dividend of $0.38. The ex-dividend date was Tuesday, September 27th. This represents a $1.92 annualized dividend and a yield of 2.74%. Royal Caribbean Cruises’s payout ratio is presently 55.01%.
RCL has been the topic of several recent analyst reports. Zacks Investment Research upgraded shares of Royal Caribbean Cruises from a “hold” rating to a “buy” rating and set a $74.00 target price on the stock in a report on Wednesday, June 29th. Stifel Nicolaus dropped their target price on shares of Royal Caribbean Cruises from $99.00 to $94.00 and set a “buy” rating on the stock in a report on Thursday, July 28th. Credit Suisse Group AG restated a “buy” rating and issued a $100.00 target price on shares of Royal Caribbean Cruises in a report on Wednesday, August 3rd. Citigroup Inc. restated a “buy” rating and issued a $95.00 target price on shares of Royal Caribbean Cruises in a report on Wednesday, August 24th. Finally, Argus lowered shares of Royal Caribbean Cruises from a “buy” rating to a “hold” rating in a report on Wednesday, September 7th. One research analyst has rated the stock with a sell rating, five have given a hold rating and eighteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $93.12.
In related news, CEO Richard D. Fain acquired 29,190 shares of the firm’s stock in a transaction that occurred on Wednesday, August 3rd. The shares were acquired at an average price of $68.52 per share, with a total value of $2,000,098.80. Following the completion of the purchase, the chief executive officer now directly owns 1,068,881 shares in the company, valued at $73,239,726.12. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, Director Vagn O. Sorensen acquired 1,100 shares of the firm’s stock in a transaction that occurred on Thursday, August 18th. The shares were bought at an average cost of $70.50 per share, for a total transaction of $77,550.00. Following the purchase, the director now owns 18,871 shares of the company’s stock, valued at $1,330,405.50. The disclosure for this purchase can be found here. Corporate insiders own 16.80% of the company’s stock.
Several hedge funds have recently bought and sold shares of the stock. Thomas J. Herzfeld Advisors Inc. increased its position in Royal Caribbean Cruises by 5.7% in the second quarter. Thomas J. Herzfeld Advisors Inc. now owns 36,913 shares of the company’s stock valued at $2,479,000 after buying an additional 2,000 shares during the period. FMR LLC increased its position in Royal Caribbean Cruises by 36.9% in the second quarter. FMR LLC now owns 1,275,955 shares of the company’s stock worth $85,680,000 after buying an additional 343,892 shares during the period. Credit Suisse AG increased its position in Royal Caribbean Cruises by 6.3% in the second quarter. Credit Suisse AG now owns 942,544 shares of the company’s stock worth $63,292,000 after buying an additional 55,984 shares during the period. Scotia Capital Inc. increased its position in Royal Caribbean Cruises by 1.8% in the second quarter. Scotia Capital Inc. now owns 13,584 shares of the company’s stock worth $914,000 after buying an additional 245 shares during the period. Finally, OMERS ADMINISTRATION Corp increased its position in Royal Caribbean Cruises by 37.4% in the second quarter. OMERS ADMINISTRATION Corp now owns 16,900 shares of the company’s stock worth $1,135,000 after buying an additional 4,600 shares during the period. 75.04% of the stock is currently owned by institutional investors and hedge funds.
Royal Caribbean Cruises Company Profile
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.
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