In today’s recent session, 0.95 million shares of the Royal Caribbean Cruises Ltd. (NYSE:RCL) have been traded, and its beta is 2.41. Most recently the company’s share price was $76.89, and it changed around -$1.96 or -2.49% from the last close, which brings the market valuation of the company to $20.30B. RCL at last check was trading at a discount to its 52-week high of $81.16, offering almost -5.55% off that amount. The share price’s 52-week low was $31.09, which indicates that the recent value has risen by an impressive 59.57% since then. We note from Royal Caribbean Cruises Ltd.’s average daily trading volume that its 10-day average is 3.16 million shares, with the 3-month average coming to 3.54 million.
Royal Caribbean Cruises Ltd. stock received a consensus recommendation rating of an Overweight, based on a mean score of 2.00. If we narrow it down even further, the data shows that 0 out of 18 analysts rate the stock as a Sell; another 1 rate it as Overweight. Among the rest, 6 recommended RCL as a Hold, whereas 11 deemed it a Buy, and 0 rated it as Underweight. Royal Caribbean Cruises Ltd. is expected to report earnings per share of $1.51 for the current quarter.
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Royal Caribbean Cruises Ltd. (NYSE:RCL) trade information
Instantly RCL has been showing red trend so far today with a performance of -2.49% on intraday trading today. The performance over the last five days has remained in the red territory. The rise to weekly highs of 81.16 on Tuesday, 05/23/23 increased the stock’s daily price by 5.26%. The company’s shares are currently up 55.55% year-to-date, but still down -3.39% over the last five days. On the other hand, Royal Caribbean Cruises Ltd. (NYSE:RCL) is 27.32% down in the 30-day period. We can see from the shorts that 18.49 million shares have been sold at a short interest cover period of 6.54 day(s).
The consensus price target as assigned by Wall Street analysts is $87.64, which translates to bulls needing to increase their stock price by 12.27% from its current value. Analyst projections state that RCL is forecast to be at a low of $70.00 and a high of $104.00. In order for the stock price to hit the forecast high, the stock would need to plunge -35.26% from its current level, while the stock would need to crash 8.96% from its current level to reach the projected low.
Royal Caribbean Cruises Ltd. (RCL) estimates and forecasts
Royal Caribbean Cruises Ltd. share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 30.85 percent over the past six months and at a 158.27% annual growth rate that is well above the industry average of 13.10%. Moreover, analysts have decided to roll up on their fiscal year 2023 revenue estimates. The rating firms predict that it will gain 172.60% in revenue this quarter, and will report an increase of 992.30% in the next quarter. The year-over-year growth rate is expected to be 49.40%, up from the previous year.
Consensus estimates provided by 11 financial analysts predict the company will bring in an average of $3.4 billion in revenue for the current quarter. 11 analysts expect Royal Caribbean Cruises Ltd. to make $3.81 billion in revenue for the quarter ending Sep 2023. The company’s sales for the same quarters a year ago were $2.18 billion and $2.99 billion respectively. Analysts predict that the company’s current quarter sales will jump, forecast at 55.70%. Forecasts for the next quarter put sales growth at 27.20%.
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of -25.60%.
Royal Caribbean Cruises Ltd.’s next quarterly earnings report is expected to be released around July 26 and July 31.
Royal Caribbean Cruises Ltd. (NYSE:RCL)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 13.21% of Royal Caribbean Cruises Ltd. shares, and 74.81% of them are in the hands of institutional investors. The stock currently has a share float of 86.19%. Royal Caribbean Cruises Ltd. stock is held by 895 institutions, with Capital Research Global Investors being the largest institutional investor. By Mar 30, 2023, it held 11.23% of the shares, which is about 28.72 million shares worth $1.88 billion.
Capital International Investors, with 11.20% or 28.63 million shares worth $1.87 billion as of Mar 30, 2023, holds the second largest percentage of outstanding shares.
Growth Fund Of America Inc and Investment Company Of America were the top two Mutual Funds as of Mar 30, 2023. The former held 19.97 million shares worth $1.3 billion, making up 7.81% of all outstanding shares. On the other hand, Investment Company Of America held roughly 16.39 million shares worth around $1.07 billion, which represents about 6.41% of the total shares outstanding.