The company had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.31 billion. William Blair also issued estimates for Royal Caribbean Cruises' Q4 2017 earnings at $1.28 EPS, FY2017 earnings at $7.23 EPS and FY2018 earnings at $8.32 EPS. The company reported $1.02 earnings per share (EPS) for the quarter, beating the Thomson Reuters' consensus estimate of $0.97 by $0.05. Royal Caribbean Cruises had a return on equity of 15.91% and a net margin of 16.29%. The firm had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.19 billion. During the same period in the prior year, the firm posted $1.09 earnings per share. Analysts expect next quarter's EPS to be $1.28 with next year's EPS projected to be $8.55.
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A number of other equities analysts have also recently weighed in on the company. Goldman Sachs Group, Inc. Norwegian Cruise Line Holdings Ltd. They issued a "neutral" rating for the company. Deutsche Bank AG dropped their price target on Royal Caribbean Cruises from $102.00 to $91.00 and set a "hold" rating on the stock in a report on Tuesday, May 2nd. Zacks Investment Research upgraded shares of Norwegian Cruise Line Holdings from a hold rating to a buy rating and set a $56.00 price target for the company in a research report on Wednesday, April 26th. Ten research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The company now has a consensus rating of "Buy" and a consensus price target of $106.19. Royal Caribbean Cruises Ltd. The Market Capitalization of the company stands at 25.28 Billion. The firm has a 50-day moving average of $113.08 and a 200-day moving average of $104.03.
Royal Caribbean Cruises Ltd. (NYSE:RCL) Earns "Outperform" Rating from Wedbush
Royal Caribbean Cruises Ltd. has a 52-week low of $65.10 and a 52-week high of $121.47.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Janney Montgomery Scott LLC increased its position in shares of Norwegian Cruise Line Holdings by 55.0% in the first quarter. 12,879,903 shares of the company traded hands. Quantbot Technologies LP bought a new stake in shares of Norwegian Cruise Line Holdings during the first quarter worth approximately $116,000. Following the sale, the director now directly owns 7,862 shares of the company's stock, valued at $921,583.64. BlackRock Inc. now owns 7,568,962 shares of the company's stock worth $383,975,000 after buying an additional 7,417,990 shares in the last quarter. Dimensional Fund Advisors LP increased its position in shares of Royal Caribbean Cruises by 11.1% in the first quarter. Vanguard Group Inc. now owns 16,504,950 shares of the company's stock worth $1,619,301,000 after buying an additional 555,260 shares during the period. BlackRock Inc. increased its stake in Norwegian Cruise Line Holdings by 4,913.5% in the first quarter. Oakbrook Investments LLC bought a new position in shares of Royal Caribbean Cruises during the first quarter worth $1,133,000. Also, CEO Richard D. Fain sold 20,000 shares of the company's stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $53.26, for a total transaction of $798,900.00. MA now owns 845,673 shares of the company's stock worth $82,969,000 after buying an additional 452,620 shares during the period. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The stock was sold at an average price of $107.77, for a total transaction of $2,155,400.00. Following the completion of the transaction, the chief executive officer now owns 72,831 shares of the company's stock, valued at approximately $3,878,979.06. The disclosure for this sale can be found here. Bank of The West now owns 34,275 shares of the company's stock valued at $3,363,000 after buying an additional 222 shares during the period. Investors of record on Friday, June 2nd were issued a $0.48 dividend. This dividend represents a yield of $1.59. The ex-dividend date was Wednesday, May 31st. Royal Caribbean Cruises's dividend payout ratio (DPR) is presently 29.68%.
Royal Caribbean Cruises declared that its Board of Directors has authorized a stock repurchase plan on Friday, April 28th that permits the company to buyback $500.00 million in outstanding shares. State Street Corp now owns 2,914,873 shares of the company's stock worth $147,863,000 after buying an additional 73,722 shares in the last quarter. Stock buyback programs are generally an indication that the company's board of directors believes its shares are undervalued.
Royal Caribbean Cruises Ltd.is a cruise company. The Company operates the Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises brands.