Royal Caribbean Cruises (NYSE:RCL) Updates Q2 Earnings Guidance

Royal Caribbean Cruises (NYSE:RCL) issued an update on its second quarter earnings guidance on Thursday morning. The company provided earnings per share guidance of $2.65 to $2.75 for the period, compared to the consensus earnings per share estimate of $2.37. Royal Caribbean Cruises also updated its FY 2024 guidance to 10.700-10.900 EPS.

Royal Caribbean Cruises Stock Up 2.3 %

RCL traded up $3.11 during trading on Friday, hitting $140.58. 2,759,776 shares of the company’s stock were exchanged, compared to its average volume of 2,785,707. 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 business’s 50 day moving average is $130.20 and its two-hundred day moving average is $117.47. Royal Caribbean Cruises has a fifty-two week low of $59.38 and a fifty-two week high of $141.70. The stock has a market cap of $36.08 billion, a P/E ratio of 22.60, a PEG ratio of 0.50 and a beta of 2.52.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings data on Thursday, April 25th. The company reported $1.77 earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.69 billion. During the same quarter in the prior year, the company posted ($0.23) earnings per share. The business’s revenue was up 29.2% on a year-over-year basis. As a group, equities analysts expect that Royal Caribbean Cruises will post 10.06 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. UBS Group increased their target price on shares of Royal Caribbean Cruises from $148.00 to $154.00 and gave the company a buy rating in a report on Friday, February 16th. Mizuho increased their target price on shares of Royal Caribbean Cruises from $164.00 to $168.00 and gave the company a buy rating in a report on Friday. The Goldman Sachs Group reiterated a buy rating on shares of Royal Caribbean Cruises in a report on Monday, April 1st. Stifel Nicolaus increased their target price on shares of Royal Caribbean Cruises from $170.00 to $174.00 and gave the company a buy rating in a report on Thursday, February 22nd. Finally, Wells Fargo & Company increased their target price on shares of Royal Caribbean Cruises from $153.00 to $159.00 and gave the company an overweight rating in a report on Friday. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of Moderate Buy and a consensus target price of $138.76.

Insider Activity at Royal Caribbean Cruises

In related news, CEO Jason T. Liberty sold 50,000 shares of the company’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 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 document filed with the SEC, which is available through the SEC website. In related news, CEO Michael W. Bayley sold 11,753 shares of the stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $116.01, for a total value of $1,363,465.53. Following the sale, the chief executive officer now owns 166,537 shares in the company, valued at $19,319,957.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jason T. Liberty sold 50,000 shares of the stock in a transaction 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 in the company, valued at approximately $21,365,763.71. The disclosure for this sale can be found here. 8.70% of the stock is owned by company insiders.

Royal Caribbean Cruises Company Profile

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.