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

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

Analyst Ratings Changes

RCL has been the topic of several analyst reports. UBS Group raised their price target on shares of Royal Caribbean Cruises from $148.00 to $154.00 and gave the stock a buy rating in a research note on Friday, February 16th. Susquehanna raised their price target on shares of Royal Caribbean Cruises from $120.00 to $150.00 and gave the company a positive rating in a report on Wednesday, January 31st. Stifel Nicolaus lifted their price objective on shares of Royal Caribbean Cruises from $170.00 to $174.00 and gave the company a buy rating in a research note on Thursday, February 22nd. Wells Fargo & Company lifted their price objective on shares of Royal Caribbean Cruises from $151.00 to $153.00 and gave the company an overweight rating in a research note on Monday, February 26th. Finally, Barclays boosted their price objective on Royal Caribbean Cruises from $150.00 to $154.00 and gave the company an overweight rating in a report on Thursday, April 11th. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus price target of $136.94.

Royal Caribbean Cruises Stock Performance

RCL traded up $1.68 on Thursday, reaching $138.41. The company had a trading volume of 1,050,980 shares, compared to its average volume of 2,725,813. The company’s fifty day moving average is $129.31 and its 200 day moving average is $116.96. Royal Caribbean Cruises has a fifty-two week low of $59.37 and a fifty-two week high of $141.70. The stock has a market cap of $35.53 billion, a P/E ratio of 21.97, a P/E/G ratio of 0.50 and a beta of 2.52. The company has a debt-to-equity ratio of 4.03, a quick ratio of 0.16 and a current ratio of 0.19.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings results on Thursday, February 1st. The company reported $1.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.13 by $0.12. Royal Caribbean Cruises had a net margin of 12.22% and a return on equity of 45.55%. The firm had revenue of $3.33 billion during the quarter, compared to the consensus estimate of $3.36 billion. During the same quarter last year, the firm earned ($1.12) earnings per share. The company’s revenue for the quarter was up 28.0% on a year-over-year basis. As a group, analysts predict that Royal Caribbean Cruises will post 9.99 earnings per share for the current fiscal year.

Insider Buying and Selling at Royal Caribbean Cruises

In related news, CEO Michael W. Bayley sold 11,753 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 166,537 shares of the company’s stock, valued at $19,319,957.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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.