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This Top Consumer Discretionary Stock is a #1 (Strong Buy): Why It Should Be on Your Radar

Zacks Equity Research
·2-min read

It doesn't matter if you're a growth, value, income, or momentum-focused investor -- building a successful investment portfolio takes skill, research, and a little bit of luck.

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

Royal Caribbean was upgraded to the Zacks Rank #1 list on March 27, 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.

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Eight analysts revised their earnings estimate upwards in the last 60 days for fiscal 2024. The Zacks Consensus Estimate has increased $0.86 to $10.01 per share. RCL boasts an average earnings surprise of 26.4%.

Earnings are forecasted to see growth of 47.9% for the current fiscal year, and sales are expected to increase 14.7%.

Even more impressive, RCL has gained in value over the past four weeks, up 14.4% compared to the S&P 500's gain of 3.6%.

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

Zacks Investment Research