William Blair Has Bullish Forecast for RCL FY2024 Earnings

Royal Caribbean Cruises Ltd. (NYSE:RCL) – Stock analysts at William Blair upped their FY2024 earnings estimates for shares of Royal Caribbean Cruises in a research note issued to investors on Tuesday, October 29th. William Blair analyst S. Zackfia now expects that the company will post earnings per share of $11.64 for the year, up from their prior estimate of $11.61. The consensus estimate for Royal Caribbean Cruises’ current full-year earnings is $11.61 per share. William Blair also issued estimates for Royal Caribbean Cruises’ FY2025 earnings at $14.44 EPS.

A number of other research analysts also recently issued reports on the stock. Mizuho lifted their price objective on shares of Royal Caribbean Cruises from $168.00 to $195.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Truist Financial upped their price target on Royal Caribbean Cruises from $175.00 to $204.00 and gave the stock a “buy” rating in a research report on Thursday, September 26th. Bank of America raised their price objective on Royal Caribbean Cruises from $205.00 to $210.00 and gave the stock a “neutral” rating in a research report on Wednesday. Morgan Stanley upped their target price on Royal Caribbean Cruises from $140.00 to $154.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 7th. Finally, StockNews.com downgraded Royal Caribbean Cruises from a “hold” rating to a “sell” rating in a report on Wednesday. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $214.00.

Royal Caribbean Cruises Price Performance

RCL opened at $206.35 on Thursday. The firm has a market capitalization of $53.10 billion, a PE ratio of 22.50, a price-to-earnings-growth ratio of 0.58 and a beta of 2.61. The company has a debt-to-equity ratio of 3.20, a current ratio of 0.19 and a quick ratio of 0.17. The business’s 50-day moving average is $180.26 and its two-hundred day moving average is $161.00. Royal Caribbean Cruises has a 1 year low of $83.25 and a 1 year high of $214.12.

Royal Caribbean Cruises (NYSE:RCL) last announced its earnings results on Tuesday, October 29th. The company reported $5.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.05 by $0.15. The business had revenue of $4.89 billion for the quarter, compared to analysts’ expectations of $4.89 billion. Royal Caribbean Cruises had a return on equity of 52.49% and a net margin of 16.32%. The business’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same quarter last year, the firm earned $3.85 EPS.

Institutional Trading of Royal Caribbean Cruises

Several hedge funds and other institutional investors have recently added to or reduced their stakes in RCL. Hanseatic Management Services Inc. boosted its position in Royal Caribbean Cruises by 23.4% during the third quarter. Hanseatic Management Services Inc. now owns 491 shares of the company’s stock worth $87,000 after purchasing an additional 93 shares in the last quarter. Catalina Capital Group LLC lifted its position in shares of Royal Caribbean Cruises by 11.4% during the 3rd quarter. Catalina Capital Group LLC now owns 1,449 shares of the company’s stock valued at $257,000 after buying an additional 148 shares in the last quarter. Avidian Wealth Enterprises LLC increased its holdings in Royal Caribbean Cruises by 12.0% in the 3rd quarter. Avidian Wealth Enterprises LLC now owns 1,872 shares of the company’s stock worth $332,000 after acquiring an additional 200 shares in the last quarter. FSM Wealth Advisors LLC increased its holdings in Royal Caribbean Cruises by 3.2% in the 3rd quarter. FSM Wealth Advisors LLC now owns 1,636 shares of the company’s stock worth $290,000 after acquiring an additional 51 shares in the last quarter. Finally, QRG Capital Management Inc. raised its position in Royal Caribbean Cruises by 7.7% during the third quarter. QRG Capital Management Inc. now owns 41,569 shares of the company’s stock worth $7,373,000 after acquiring an additional 2,956 shares during the period. Institutional investors and hedge funds own 87.53% of the company’s stock.

Insider Buying and Selling

In related news, Director Vagn O. Sorensen sold 5,800 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $158.50, for a total transaction of $919,300.00. Following the completion of the transaction, the director now owns 25,837 shares of the company’s stock, valued at $4,095,164.50. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Royal Caribbean Cruises news, insider Laura H. Bethge sold 3,073 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $168.71, for a total value of $518,445.83. Following the sale, the insider now owns 27,388 shares in the company, valued at approximately $4,620,629.48. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Vagn O. Sorensen sold 5,800 shares of Royal Caribbean Cruises stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $158.50, for a total transaction of $919,300.00. Following the transaction, the director now directly owns 25,837 shares of the company’s stock, valued at approximately $4,095,164.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.95% of the stock is owned by corporate insiders.

About Royal Caribbean Cruises

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.