Royal Caribbean Cruises (NYSE:RCL) Updates FY24 Earnings Guidance

Royal Caribbean Cruises (NYSE:RCL) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $10.70 to $10.90 for the period, compared to the consensus earnings per share estimate of $10.00. Royal Caribbean Cruises also updated its FY 2024 guidance to 10.700-10.900 EPS.

Analyst Upgrades and Downgrades

Several research firms have commented on RCL. Morgan Stanley boosted their target price on Royal Caribbean Cruises from $100.00 to $115.00 and gave the company an equal weight rating in a research note on Wednesday, February 7th. The Goldman Sachs Group restated a buy rating on shares of Royal Caribbean Cruises in a research note on Monday, April 1st. Stifel Nicolaus boosted their target price on Royal Caribbean Cruises from $170.00 to $174.00 and gave the company a buy rating in a research note on Thursday, February 22nd. Macquarie upped their price objective on Royal Caribbean Cruises from $145.00 to $160.00 and gave the stock an outperform rating in a research note on Friday, March 15th. Finally, Wells Fargo & Company upped their price objective on Royal Caribbean Cruises from $153.00 to $159.00 and gave the stock an overweight rating in a research note on Friday. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus target price of $138.76.

Royal Caribbean Cruises Price Performance

Shares of RCL traded up $3.11 during trading hours on Friday, hitting $140.58. 2,759,776 shares of the company were exchanged, compared to its average volume of 2,785,707. The company has a market cap of $36.08 billion, a price-to-earnings ratio of 22.60, a P/E/G ratio of 0.50 and a beta of 2.52. Royal Caribbean Cruises has a fifty-two week low of $59.38 and a fifty-two week high of $141.70. The company has a quick ratio of 0.16, a current ratio of 0.19 and a debt-to-equity ratio of 4.03. The firm’s fifty day moving average is $130.20 and its 200 day moving average is $117.47.

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

Insider Buying and Selling at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, CEO Jason T. Liberty sold 50,000 shares of the stock in a transaction dated Friday, April 26th. The stock was 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 directly 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 available through the SEC website. In other Royal Caribbean Cruises news, CEO Jason T. Liberty sold 50,000 shares of the firm’s stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $139.63, for a total value of $6,981,500.00. Following the completion of the sale, the chief executive officer now owns 153,017 shares of the company’s stock, valued at $21,365,763.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Michael W. Bayley sold 11,753 shares of the firm’s stock in a transaction that occurred on Tuesday, February 13th. The shares were sold at an average price of $116.01, for a total value of $1,363,465.53. Following the completion of the sale, the chief executive officer now directly 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. Corporate insiders own 8.70% of the company’s stock.

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.