Royal Caribbean shares trail benchmark as earnings growth remains forecast
Zacks maintained a Hold rating while consensus estimates pointed to double-digit earnings increases.
Royal Caribbean shares declined 1.9% over the preceding month, underperforming the 0.4% decrease recorded by the Zacks S&P 500 composite during the same period.
For the current quarter, Royal Caribbean was expected to post earnings of $6.36 per share. That estimate represented a 10.6% increase from the comparable period a year earlier.
The Zacks Consensus Estimate placed the cruise company’s current fiscal-year earnings at $17.79 per share, which would amount to year-over-year growth of 13.8%. For the next fiscal year, the consensus estimate stood at $20.11 per share, a projected 13.1% increase from the prior year’s anticipated result.
Zacks assigned Royal Caribbean a Rank of No. 3, designated Hold. The rating reflected the magnitude of the latest change in the consensus estimate along with three other earnings-estimate factors.
