Royal Caribbean Cruise Limited(NYSE: RCL) is the world’s second-largest global cruise operator based in Miami. On May 22, 2023, the trading company’s Stock closed at $80.33, and the highest traded around $81.61.
Since last year, RCL stock grew over 38%, and in the half-yearly trading session, it jumped up over 38%. Compared to the May 19 trading session, the Stock surged 0.90%. This Monday, the slight spike in its stock price shows an adverse effect of opening the market after weekends.
The pre-market price of RCL stock shows a 0.84% increase.
RCL Stock Price Analysis
The cruise operator reported its Q1 2023 EPS and Revenue report earlier this month. After this, the stock price jumped from almost $68.58 to nearly $73.49. Meanwhile, the recent closing of this Stock was $80.33, which is entirely above its price before Q1 2023 reports.
At the time the quarterly reports were released, the trading volume increased, pushing up the stock price. Similarly, after reporting its Q1 2023, the stock price rose more than $80.00.
As seen in the above chart, the trading price of RCL stock is soaring above its 200-day EMA. At the same time, the RSI followed the uptrend as the stock was in an overbought zone. This further shows investors’ confidence in the stock that takes it to perform above its 200-day moving average.
Revenue and Earnings of Royal Caribbean Cruise Limited
Recently, the cruise operator released its Q1 2023 financials and shocked its investors and shareholders, reporting 2.22% more revenue than the estimated figures.
In the last quarter of 2022, Royal Caribbean’s revenue reported 0.14% less than the predicted revenue. The worst quarter for the cruise operator was Q3 of 2021.
TradingView data shows that Royal Caribbean company’s total market capitalization is $20.54 billion, and its average volume is 3.54 Million. The operator generates around 49% of its revenue from the United States and another 50% from other countries, including the United Kingdom and many others.
Over 65% of Royal Caribbean Cruise Limited’s revenue comes from passenger tickets, and the remaining is generated from other services, including lightweight cargo, check-in, and onboarding.
Around 13% of the company’s shares are held by institutional holders, and the company holds the remaining. According to NASDAQ, there are 706 institutional holders of the RCL stock.
BlackRock Inc, State Street Corp, Capital Research Global Investor, Morgan Stanley, JP Morgan Chase & Co, Norges Bank, and Swiss National Bank are some of the major institutional shareholders of Royal Caribbean Cruise Limited.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
Nancy J. Allen is a crypto enthusiast and believes that cryptocurrencies inspire people to be their own banks and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning.
Source: https://www.thecoinrepublic.com/2023/05/23/will-rcl-stock-continue-its-bullish-outlook-this-week/