Royal Caribbean Group provides business update and reports on second quarter 2020
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Stifel Reiterates Buy Rating on Royal Caribbean Cruises (RCL)
August 11, 2020 7:15 AM EDTStifel analyst Steven Wieczynski reiterated a Buy rating and $72.00 price target on Royal Caribbean Cruises (NYSE: RCL) after meeting with management. Even though ships arent in operation today, based on 2021 booking trends, management is encouraged that as ships eventually commence operations and the... More
Royal Caribbean Group (RCL) Misses Q2 EPS by $1.31, Revenue Beats
August 10, 2020 8:02 AM EDTRoyal Caribbean Group (NYSE: RCL) reported Q2 EPS of ($6.13), $1.31 worse than the analyst estimate of ($4.82). Revenue for the quarter came in at $175.6 million versus the consensus estimate of $43.5 million.
Update on Bookings
The extended suspension of cruising has significantly impacted bookings for the remainder of 2020 which are meaningfully lower than same time last year and at lower prices.
Although still early in the booking cycle, the booked position for 2021 is trending well and is within historical ranges. The Company has implemented various programs to best serve its booked guests... More
