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

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

Royal Caribbean Cruises Stock Up 2.3 %

RCL stock traded up $3.11 during trading hours on Friday, reaching $140.58. 2,759,776 shares of the stock were exchanged, compared to its average volume of 2,785,707. Royal Caribbean Cruises has a 12 month low of $59.38 and a 12 month high of $141.70. The firm’s 50-day moving average is $130.20 and its 200-day moving average is $117.47. The company 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. The company has a debt-to-equity ratio of 4.03, a current ratio of 0.19 and a quick ratio of 0.16.

Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings results on Thursday, April 25th. The company reported $1.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.33 by $0.44. The business had revenue of $3.73 billion during 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 company’s quarterly revenue was up 29.2% on a year-over-year basis. During the same quarter last year, the firm posted ($0.23) EPS. On average, equities research analysts expect that Royal Caribbean Cruises will post 10.06 earnings per share for the current year.

Analyst Ratings Changes

RCL has been the topic of several analyst reports. Morgan Stanley increased their target price on 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 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 research report on Friday. UBS Group upped their price target on shares of Royal Caribbean Cruises from $148.00 to $154.00 and gave the stock a buy rating in a report on Friday, February 16th. Mizuho boosted their price objective on shares of Royal Caribbean Cruises from $164.00 to $168.00 and gave the company a buy rating in a research report on Friday. Finally, Susquehanna upped their target price on Royal Caribbean Cruises from $150.00 to $160.00 and gave the stock a positive rating in a research note on Friday. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of Moderate Buy and an average price target of $138.76.

Insider Buying and Selling

In other news, CEO Jason T. Liberty sold 50,000 shares of the company’s 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 sale, the chief executive officer now directly owns 153,017 shares of the company’s stock, valued at approximately $21,365,763.71. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Royal Caribbean Cruises news, CEO Michael W. Bayley sold 11,753 shares of the firm’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 in the company, valued at approximately $19,319,957.37. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 value of $6,981,500.00. Following the completion of 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 corporate 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.