William Blair Has Positive Outlook of RCL FY2024 Earnings

Royal Caribbean Cruises Ltd. (NYSE:RCL) – William Blair increased their FY2024 earnings per share (EPS) estimates for Royal Caribbean Cruises in a research report issued to clients and investors on Tuesday, October 29th. William Blair analyst S. Zackfia now expects that the company will earn $11.64 per share for the year, up from their previous forecast 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.

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

A number of other research analysts have also weighed in on RCL. Mizuho raised their price objective on Royal Caribbean Cruises from $168.00 to $195.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Susquehanna upped their price target on shares of Royal Caribbean Cruises from $160.00 to $180.00 and gave the stock a “positive” rating in a research note on Tuesday, July 30th. Citigroup raised their price objective on shares of Royal Caribbean Cruises from $253.00 to $257.00 and gave the company a “buy” rating in a research note on Wednesday. Bank of America raised their price target on shares of Royal Caribbean Cruises from $205.00 to $210.00 and gave the company a “neutral” rating in a research report on Wednesday. Finally, StockNews.com cut Royal Caribbean Cruises from a “hold” rating to a “sell” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, two have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $214.00.

Royal Caribbean Cruises Price Performance

Shares of NYSE RCL opened at $208.34 on Thursday. The company has a debt-to-equity ratio of 3.20, a quick ratio of 0.17 and a current ratio of 0.19. The company has a 50 day simple moving average of $179.29 and a two-hundred day simple moving average of $160.68. Royal Caribbean Cruises has a fifty-two week low of $83.25 and a fifty-two week high of $214.12. The company has a market capitalization of $53.62 billion, a price-to-earnings ratio of 22.72, a P/E/G ratio of 0.58 and a beta of 2.61.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in RCL. Capital International Investors lifted its holdings in Royal Caribbean Cruises by 1.0% during the first quarter. Capital International Investors now owns 29,596,455 shares of the company’s stock valued at $4,114,203,000 after purchasing an additional 286,868 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Royal Caribbean Cruises by 0.5% during the 1st quarter. Vanguard Group Inc. now owns 25,409,272 shares of the company’s stock valued at $3,532,143,000 after purchasing an additional 132,079 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Royal Caribbean Cruises by 24.3% during the 2nd quarter. Dimensional Fund Advisors LP now owns 2,048,501 shares of the company’s stock valued at $326,616,000 after buying an additional 400,565 shares in the last quarter. D1 Capital Partners L.P. boosted its holdings in Royal Caribbean Cruises by 105.7% in the 2nd quarter. D1 Capital Partners L.P. now owns 1,512,103 shares of the company’s stock worth $241,075,000 after buying an additional 777,103 shares during the period. Finally, Capital International Inc. CA increased its stake in Royal Caribbean Cruises by 3.3% in the 1st quarter. Capital International Inc. CA now owns 601,917 shares of the company’s stock worth $83,672,000 after buying an additional 19,065 shares in the last quarter. 87.53% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, insider Laura H. Bethge sold 3,073 shares of the business’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $168.71, for a total transaction of $518,445.83. Following the completion of the sale, the insider now directly owns 27,388 shares in the company, valued at $4,620,629.48. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, Director Vagn O. Sorensen sold 5,800 shares of Royal Caribbean Cruises stock in a transaction on Thursday, August 15th. The stock was 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 in the company, valued at approximately $4,095,164.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Laura H. Bethge sold 3,073 shares of the company’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $168.71, for a total value of $518,445.83. Following the completion of the sale, the insider now owns 27,388 shares of the company’s stock, valued at approximately $4,620,629.48. The trade was a 0.00 % decrease in their position. 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.