Royal Caribbean Cruises (NYSE:RCL) Issues FY 2024 Earnings Guidance

Royal Caribbean Cruises (NYSE:RCL) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 10.700-10.900 for the period, compared to the consensus EPS estimate of 10.060. The company issued revenue guidance of -. Royal Caribbean Cruises also updated its FY24 guidance to $10.70 to $10.90 EPS.

Royal Caribbean Cruises Stock Up 2.3 %

Shares of NYSE RCL traded up $3.11 during mid-day trading on Friday, reaching $140.58. The company had a trading volume of 2,759,776 shares, compared to its average volume of 2,785,707. Royal Caribbean Cruises has a twelve month low of $59.38 and a twelve month high of $141.70. The company has a debt-to-equity ratio of 4.03, a quick ratio of 0.16 and a current ratio of 0.19. The stock has a market capitalization of $36.08 billion, a PE ratio of 22.60, a price-to-earnings-growth ratio of 0.50 and a beta of 2.52. The stock’s 50 day moving average is $130.20 and its 200-day moving average is $117.47.

Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings results on Thursday, April 25th. The company reported $1.77 earnings per share for the quarter, topping analysts’ consensus estimates of $1.33 by $0.44. Royal Caribbean Cruises had a net margin of 12.22% and a return on equity of 45.55%. The business had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.69 billion. During the same period in the prior year, the business posted ($0.23) earnings per share. Royal Caribbean Cruises’s revenue for the quarter was up 29.2% compared to the same quarter last year. As a group, equities analysts anticipate that Royal Caribbean Cruises will post 10.06 earnings per share for the current fiscal year.

Analyst Ratings Changes

RCL has been the topic of several analyst reports. Macquarie increased their target price on shares of Royal Caribbean Cruises from $145.00 to $160.00 and gave the stock an outperform rating in a research report on Friday, March 15th. Stifel Nicolaus increased their target price on shares of Royal Caribbean Cruises from $170.00 to $174.00 and gave the stock a buy rating in a research report on Thursday, February 22nd. Susquehanna increased their target price on shares of Royal Caribbean Cruises from $150.00 to $160.00 and gave the stock a positive rating in a research report on Friday. Barclays increased their target price on shares of Royal Caribbean Cruises from $154.00 to $165.00 and gave the stock an overweight rating in a research report on Friday. Finally, UBS Group increased their target price on shares of Royal Caribbean Cruises from $148.00 to $154.00 and gave the stock a buy rating in a research report on Friday, February 16th. Two research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of Moderate Buy and an average price target of $138.76.

Insider Activity

In other news, CEO Jason T. Liberty sold 50,000 shares of Royal Caribbean Cruises stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $139.63, for a total value of $6,981,500.00. Following the completion of the transaction, the chief executive officer now owns 153,017 shares in the company, valued at $21,365,763.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Jason T. Liberty sold 50,000 shares of Royal Caribbean Cruises stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $139.63, for a total value of $6,981,500.00. Following the completion of the transaction, the chief executive officer now owns 153,017 shares in the company, valued at $21,365,763.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael W. Bayley sold 11,753 shares of Royal Caribbean Cruises stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $116.01, for a total transaction of $1,363,465.53. Following the completion of the transaction, the chief executive officer now owns 166,537 shares of the company’s stock, valued at approximately $19,319,957.37. The disclosure for this sale can be found here. 8.70% of the stock is currently owned by corporate insiders.

About Royal Caribbean Cruises

Royal Caribbean Cruises Ltd. operates as a cruise company worldwide. The company operates cruises under the Royal Caribbean International, Celebrity Cruises, and Silversea Cruises brands, which comprise a range of itineraries. As of February 21, 2024, it operated 65 ships. Royal Caribbean Cruises Ltd.