Royal Caribbean Cruises (NYSE:RCL) Updates Q2 2024 Earnings Guidance

Royal Caribbean Cruises (NYSE:RCL) issued an update on its second quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 2.650-2.750 for the period, compared to the consensus estimate of 2.370. The company issued revenue guidance of -. Royal Caribbean Cruises also updated its FY 2024 guidance to 10.700-10.900 EPS.

Royal Caribbean Cruises Stock Performance

RCL stock traded up $3.11 during midday trading on Friday, hitting $140.58. The company’s stock had a trading volume of 2,759,776 shares, 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 stock has a market cap of $36.08 billion, a price-to-earnings ratio of 22.60, a PEG ratio of 0.50 and a beta of 2.52. Royal Caribbean Cruises has a 1 year low of $59.38 and a 1 year high of $141.70. The stock’s 50-day moving average price is $130.20 and its 200 day moving average price is $117.47.

Royal Caribbean Cruises (NYSE:RCL) last posted 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. The firm had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.69 billion. Royal Caribbean Cruises had a return on equity of 45.55% and a net margin of 12.22%. The business’s quarterly revenue was up 29.2% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.23) earnings per share. On average, equities analysts forecast that Royal Caribbean Cruises will post 10.06 EPS for the current year.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Stifel Nicolaus boosted their price target on shares of Royal Caribbean Cruises from $170.00 to $174.00 and gave the stock a buy rating in a research note on Thursday, February 22nd. Mizuho increased their target price on Royal Caribbean Cruises from $164.00 to $168.00 and gave the stock a buy rating in a research report on Friday. Wells Fargo & Company upped their price objective on shares of Royal Caribbean Cruises from $153.00 to $159.00 and gave the stock an overweight rating in a report on Friday. The Goldman Sachs Group reissued a buy rating on shares of Royal Caribbean Cruises in a research report on Monday, April 1st. Finally, Barclays upped their price target on Royal Caribbean Cruises from $154.00 to $165.00 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 assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of Moderate Buy and a consensus target price of $138.76.

Insider Activity

In related news, CEO Jason T. Liberty sold 50,000 shares of the firm’s 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 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 filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Jason T. Liberty sold 50,000 shares of Royal Caribbean Cruises stock in a transaction 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 transaction, the chief executive officer now directly owns 153,017 shares of the company’s stock, valued at approximately $21,365,763.71. The sale 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 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 in the company, valued at $19,319,957.37. The disclosure for this sale can be found here. Insiders own 8.70% of the company’s stock.

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.