Royal Caribbean shares retreat as earnings estimates point to growth
The cruise operator’s stock closed 2.24% lower, although it remained up 9.18% over the preceding month.
Royal Caribbean shares ended the latest trading session at $282.32, a decline of 2.24% from the previous close. Despite the daily retreat, the stock had gained 9.18% during the preceding month.
Analyst consensus forecasts called for the cruise company to report quarterly earnings of $6.36 per share. That would represent an increase of 10.61% compared with the corresponding quarter a year earlier. The latest consensus revenue estimate stood at $5.58 billion, which would be 8.66% above the year-ago period.
For the full year, Zacks consensus estimates projected earnings of $17.79 per share and revenue of $19.58 billion. Zacks assigned Royal Caribbean a Rank #3, equivalent to a Hold rating.
Royal Caribbean’s forward price-to-earnings ratio was 16.24. Its price/earnings-to-growth ratio, commonly known as the PEG ratio, was 1.02.
