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What Happened?
Shares of cruise vacation company Royal Caribbean (NYSE:RCL) jumped 13.2% in the afternoon session after the company reported strong third results, with earnings exceeding analysts' expectations while revenue was in line. Looking ahead, Royal Caribbean's positive EPS guidance for the next quarter exceeded analysts' expectations. Overall, this quarter had some key positives.
The shares closed the day at $265.25, up 12% from previous close.
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What The Market Is Telling Us
Royal Caribbean’s shares are not very volatile and have only had 9 moves greater than 5% over the last year. Moves this big are rare for Royal Caribbean and indicate this news significantly impacted the market’s perception of the business.
Royal Caribbean is up 15.7% since the beginning of the year, and at $265.02 per share, has set a new 52-week high. Investors who bought $1,000 worth of Royal Caribbean’s shares 5 years ago would now be looking at an investment worth $2,201.
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