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Should You Buy #1 (Strong Buy)-Ranked Royal Caribbean (RCL) for Your Portfolio?

Royal Caribbean was upgraded to the Zacks Rank #1 list on August 8, 2024. The Zacks Rank is a unique stock-rating model that helps you take advantage of earnings estimate revision trends and provides a way to get into stocks highly sought after by institutional investors.

Based in Miami and incorporated in 1985, Royal Caribbean Cruises is a cruise company. It owns and operates three global brands — Royal Caribbean International, Celebrity Cruises and Azamara Club Cruises. Additionally, it has a 50% investment in a joint venture with TUI AG, which operates the brand TUI Cruises.

For fiscal 2024, six analysts revised their earnings estimate upwards in the last 60 days, and the Zacks Consensus Estimate has increased $0.41 to $11.50 per share. RCL boasts an average earnings surprise of 18.5%.

Analysts are expecting earnings to grow 69.9% for the current fiscal year, with revenue forecasted to rise 18.1%.

Additionally, RCL has climbed higher over the past four weeks, gaining 3.9%. The S&P 500 is up 0.3% in comparison.

Bottom Line

With a #1 (Strong Buy) ranking, positive trend in earnings estimate revisions, and strong market momentum, Royal Caribbean could be just the stock to help your portfolio generate returns that could fund your retirement, your kids' college tuition, or your short- and long-term savings goals.

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Royal Caribbean Cruises Ltd. (RCL) : Free Stock Analysis Report

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