NEW YORK (TheStreet) -- Shares of Royal Caribbean Cruises (RCL) - Get Report were advancing 5.82% to $72.01 in pre-market trading on Friday after the cruise operator posted earnings for the 2016 third quarter that exceeded Wall Street's expectations.
Before today's market open, Royal Caribbean reported adjusted earnings of $3.20 per share, above analysts' projected $3.10 per share.
Revenue came in at $2.56 billion, which fell just short of Wall Street's expected $2.58 billion.
In 2015, Miami-based Royal Caribbean posted adjusted earnings of $2.84 per share and $2.52 billion in revenue.
Royal Caribbean said it expects to report adjusted earnings of $1.20 per share for the 2016 fourth quarter. Analysts surveyed by FactSet are looking for adjusted earnings of $1.25 per share.
The company backed its full-year adjusted earnings forecast of $6.00 to $6.10 per share, while analysts surveyed by FactSet are modeling adjusted earnings of $6.03 per share.
Royal Caribbean added that intineraries for 2017 are booked ahead of last year in both rate and volume.
Separately, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
The team rates Royal Caribbean as a Buy with a ratings score of B. The company's strengths can be seen in multiple areas, such as its increase in net income, revenue growth, attractive valuation levels, good cash flow from operations and expanding profit margins. The team feels its strengths outweigh the fact that the company has had somewhat disappointing return on equity.
You can view the full analysis from the report here: RCL