Royal Caribbean Cruises (NYSE:RCL) Sees Strong Trading Volume Following Strong Earnings

Royal Caribbean Cruises Ltd. (NYSE:RCL) saw an uptick in trading volume on Thursday following a better than expected earnings announcement. 1,235,115 shares changed hands during mid-day trading, a decline of 50% from the previous session’s volume of 2,474,125 shares.The stock last traded at $157.99 and had previously closed at $164.51.

The company reported $3.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.77 by $0.44. The company had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.05 billion. Royal Caribbean Cruises had a net margin of 14.28% and a return on equity of 51.54%. Royal Caribbean Cruises’s revenue was up 16.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.82 earnings per share.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on RCL. The Goldman Sachs Group increased their price objective on Royal Caribbean Cruises from $170.00 to $195.00 and gave the stock a “buy” rating in a report on Wednesday, July 17th. Bank of America increased their price objective on shares of Royal Caribbean Cruises from $145.00 to $172.00 and gave the company a “neutral” rating in a research report on Tuesday. JPMorgan Chase & Co. upped their price target on shares of Royal Caribbean Cruises from $175.00 to $210.00 and gave the company an “overweight” rating in a research report on Wednesday. Mizuho lifted their target price on Royal Caribbean Cruises from $164.00 to $168.00 and gave the company a “buy” rating in a research report on Friday, April 26th. Finally, Argus upped their price target on shares of Royal Caribbean Cruises from $161.00 to $172.00 and gave the stock a “buy” rating in a research report on Wednesday, May 29th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $169.94.

Insider Activity at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, CAO Henry L. Pujol sold 9,944 shares of the business’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $141.23, for a total transaction of $1,404,391.12. Following the sale, the chief accounting officer now directly owns 16,687 shares in the company, valued at $2,356,705.01. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CAO Henry L. Pujol sold 9,944 shares of Royal Caribbean Cruises stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $141.23, for a total transaction of $1,404,391.12. Following the sale, the chief accounting officer now owns 16,687 shares of the company’s stock, valued at approximately $2,356,705.01. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Jason T. Liberty sold 50,000 shares of Royal Caribbean Cruises stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $139.63, for a total value of $6,981,500.00. Following the completion of the transaction, the chief executive officer now owns 153,017 shares of the company’s stock, valued at $21,365,763.71. The disclosure for this sale can be found here. Insiders sold 152,884 shares of company stock worth $22,052,985 over the last 90 days. Company insiders own 7.95% of the company’s stock.

Hedge Funds Weigh In On Royal Caribbean Cruises

A number of institutional investors and hedge funds have recently added to or reduced their stakes in RCL. Scarborough Advisors LLC acquired a new stake in Royal Caribbean Cruises during the fourth quarter valued at approximately $26,000. Unique Wealth Strategies LLC purchased a new stake in shares of Royal Caribbean Cruises in the 2nd quarter valued at approximately $27,000. Creekmur Asset Management LLC purchased a new position in shares of Royal Caribbean Cruises during the fourth quarter valued at $30,000. Versant Capital Management Inc grew its stake in Royal Caribbean Cruises by 905.3% during the 2nd quarter. Versant Capital Management Inc now owns 191 shares of the company’s stock valued at $30,000 after acquiring an additional 172 shares in the last quarter. Finally, AlphaMark Advisors LLC increased its holdings in shares of Royal Caribbean Cruises by 233.3% in the 2nd quarter. AlphaMark Advisors LLC now owns 200 shares of the company’s stock valued at $32,000 after purchasing an additional 140 shares during the period. 87.53% of the stock is owned by institutional investors.

Royal Caribbean Cruises Stock Down 3.9 %

The business’s 50-day moving average price is $155.91 and its 200-day moving average price is $138.54. The firm has a market capitalization of $40.69 billion, a PE ratio of 21.20, a price-to-earnings-growth ratio of 0.51 and a beta of 2.62. The company has a quick ratio of 0.16, a current ratio of 0.19 and a debt-to-equity ratio of 3.54.

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.