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.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on RCL. Morgan Stanley raised their price objective on shares of Royal Caribbean Cruises from $100.00 to $115.00 and gave the stock an equal weight rating in a report on Wednesday, February 7th. Wells Fargo & Company lifted their price target on shares of Royal Caribbean Cruises from $153.00 to $159.00 and gave the stock an overweight rating in a research note on Friday. The Goldman Sachs Group restated a buy rating on shares of Royal Caribbean Cruises in a research note on Monday, April 1st. Susquehanna boosted their target price on Royal Caribbean Cruises from $150.00 to $160.00 and gave the company a positive rating in a report on Friday. Finally, Barclays upped their target price on Royal Caribbean Cruises from $154.00 to $165.00 and gave the company an overweight rating in a research report on Friday. Two 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 a consensus rating of Moderate Buy and an average price target of $138.76.

Royal Caribbean Cruises Stock Up 2.3 %

Shares of Royal Caribbean Cruises stock opened at $140.59 on Friday. The company has a debt-to-equity ratio of 3.54, a current ratio of 0.19 and a quick ratio of 0.16. Royal Caribbean Cruises has a 1-year low of $59.38 and a 1-year high of $141.70. The business has a 50-day moving average of $130.20 and a 200-day moving average of $117.67. The company has a market capitalization of $36.09 billion, a PE ratio of 18.12, a P/E/G ratio of 0.47 and a beta of 2.52.

Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings results on Thursday, April 25th. The company reported $1.77 EPS for the quarter, beating the consensus estimate of $1.33 by $0.44. The company had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.69 billion. Royal Caribbean Cruises had a net margin of 14.28% and a return on equity of 51.54%. Royal Caribbean Cruises’s revenue was up 29.2% compared to the same quarter last year. During the same quarter last year, the business earned ($0.23) earnings per share. As a group, equities analysts forecast that Royal Caribbean Cruises will post 10.8 EPS for the current fiscal year.

Insider Buying and Selling at Royal Caribbean Cruises

In other news, CEO Michael W. Bayley sold 11,753 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Michael W. Bayley sold 11,753 shares of the 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 transaction, the chief executive officer now directly owns 166,537 shares in the company, valued at $19,319,957.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jason T. Liberty sold 50,000 shares of the business’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 sale, the chief executive officer now directly 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.