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

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

Royal Caribbean Cruises Stock Performance

Shares of Royal Caribbean Cruises stock opened at $140.59 on Friday. The firm has a market capitalization of $36.09 billion, a P/E ratio of 18.12, a price-to-earnings-growth ratio of 0.47 and a beta of 2.52. The company has a current ratio of 0.19, a quick ratio of 0.16 and a debt-to-equity ratio of 3.54. The business’s fifty day simple moving average is $130.20 and its 200 day simple moving average is $117.67. Royal Caribbean Cruises has a 12 month low of $59.38 and a 12 month high of $141.70.

Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings results on Thursday, April 25th. The company reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.44. The company had revenue of $3.73 billion during 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%. The firm’s revenue for the quarter was up 29.2% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.23) earnings per share. As a group, analysts anticipate that Royal Caribbean Cruises will post 10.8 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on RCL shares. Barclays lifted their price objective on Royal Caribbean Cruises from $154.00 to $165.00 and gave the stock an overweight rating in a report on Friday. Susquehanna raised their price objective on shares of Royal Caribbean Cruises from $150.00 to $160.00 and gave the stock a positive rating in a report on Friday. Wells Fargo & Company boosted 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. Macquarie raised their price target on Royal Caribbean Cruises from $145.00 to $160.00 and gave the stock an outperform rating in a report on Friday, March 15th. Finally, UBS Group increased their price objective on Royal Caribbean Cruises from $148.00 to $154.00 and gave the stock a buy rating in a report on Friday, February 16th. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $138.76.

Insider Transactions at Royal Caribbean Cruises

In related news, CEO Jason T. Liberty sold 50,000 shares of the stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $139.63, for a total transaction of $6,981,500.00. Following the sale, 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Royal Caribbean Cruises news, CEO Michael W. Bayley sold 11,753 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 166,537 shares of the company’s stock, valued at approximately $19,319,957.37. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jason T. Liberty sold 50,000 shares of the firm’s stock in a transaction dated Friday, April 26th. The shares were sold at an average price of $139.63, for a total transaction 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. 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.