William Blair Brokers Boost Earnings Estimates for Royal Caribbean Cruises Ltd. (NYSE:RCL)

Royal Caribbean Cruises Ltd. (NYSE:RCL) – Stock analysts at William Blair raised their Q1 2024 earnings per share estimates for Royal Caribbean Cruises in a research report issued to clients and 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.

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

Several other analysts also recently issued reports on RCL. The Goldman Sachs Group reissued a “buy” rating on shares of Royal Caribbean Cruises in a research note on Monday, April 1st. Morgan Stanley lifted their price objective on Royal Caribbean Cruises from $100.00 to $115.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 7th. Stifel Nicolaus lifted their price objective on Royal Caribbean Cruises from $170.00 to $174.00 and gave the stock a “buy” rating in a research note on Thursday, February 22nd. Wells Fargo & Company lifted their price objective on Royal Caribbean Cruises from $151.00 to $153.00 and gave the stock an “overweight” rating in a research note on Monday, February 26th. Finally, UBS Group lifted their price objective on Royal Caribbean Cruises from $148.00 to $154.00 and gave the stock a “buy” rating in a research note on Friday, February 16th. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $136.94.

Royal Caribbean Cruises Stock Up 3.5 %

Shares of RCL opened at $136.67 on Monday. The business’s 50 day moving average is $128.91 and its 200 day moving average is $116.82. The company has a market capitalization of $35.08 billion, a PE ratio of 21.97, a price-to-earnings-growth ratio of 0.47 and a beta of 2.52. Royal Caribbean Cruises has a 12-month low of $59.37 and a 12-month high of $141.70. The company has a current ratio of 0.19, a quick ratio of 0.16 and a debt-to-equity ratio of 4.03.

Hedge Funds Weigh In On Royal Caribbean Cruises

A number of large investors have recently bought and sold shares of the business. Dynamic Advisor Solutions LLC lifted its holdings in shares of Royal Caribbean Cruises by 62.9% in the 3rd quarter. Dynamic Advisor Solutions LLC now owns 4,112 shares of the company’s stock worth $379,000 after buying an additional 1,588 shares during the period. CWM LLC lifted its holdings in shares of Royal Caribbean Cruises by 8.6% in the 3rd quarter. CWM LLC now owns 11,313 shares of the company’s stock worth $1,042,000 after buying an additional 898 shares during the period. Moody National Bank Trust Division lifted its holdings in shares of Royal Caribbean Cruises by 5.6% in the 3rd quarter. Moody National Bank Trust Division now owns 2,715 shares of the company’s stock worth $250,000 after buying an additional 143 shares during the period. Arkadios Wealth Advisors purchased a new stake in shares of Royal Caribbean Cruises in the 3rd quarter worth $307,000. Finally, HB Wealth Management LLC lifted its holdings in shares of Royal Caribbean Cruises by 161.1% in the 3rd quarter. HB Wealth Management LLC now owns 5,704 shares of the company’s stock worth $526,000 after buying an additional 3,519 shares during the period. Hedge funds and other institutional investors own 87.53% of the company’s stock.

Insider Activity

In related news, CEO Michael W. Bayley sold 11,753 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer now owns 166,537 shares in the company, valued at approximately $19,319,957.37. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 8.70% of the company’s stock.

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.