Royal Caribbean Cruises (NYSE:RCL) Issues FY24 Earnings Guidance

Royal Caribbean Cruises (NYSE:RCL) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $10.70 to $10.90 for the period, compared to the consensus EPS estimate of $10.00. Royal Caribbean Cruises also updated its FY 2024 guidance to 10.700-10.900 EPS.

Royal Caribbean Cruises Price Performance

Shares of NYSE RCL traded up $3.11 during mid-day trading on Friday, hitting $140.58. 2,759,776 shares of the company’s stock traded hands, compared to its average volume of 2,785,707. The company’s 50-day moving average is $130.20 and its two-hundred day moving average is $117.47. The company has a debt-to-equity ratio of 4.03, a current ratio of 0.19 and a quick ratio of 0.16. The company has a market capitalization of $36.08 billion, a P/E 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.

Royal Caribbean Cruises (NYSE:RCL) last announced its 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 firm had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.69 billion. Royal Caribbean Cruises had a net margin of 12.22% and a return on equity of 45.55%. The business’s revenue was up 29.2% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.23) EPS. On average, equities analysts anticipate that Royal Caribbean Cruises will post 10.06 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on RCL shares. Mizuho upped their target price 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. Macquarie upped their price target on shares of Royal Caribbean Cruises from $145.00 to $160.00 and gave the company an outperform rating in a report on Friday, March 15th. Wells Fargo & Company upped their price target on shares of Royal Caribbean Cruises from $153.00 to $159.00 and gave the company an overweight rating in a report on Friday. Barclays upped their price target on shares of Royal Caribbean Cruises from $154.00 to $165.00 and gave the company an overweight rating in a report on Friday. Finally, UBS Group upped their price target on shares of Royal Caribbean Cruises from $148.00 to $154.00 and gave the company a buy rating in a report on Friday, February 16th. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average target price of $138.76.

Insider Transactions at Royal Caribbean Cruises

In other news, CEO Jason T. Liberty sold 50,000 shares of the company’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 completion of the sale, the chief executive officer now 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 available through the SEC website. In other news, CEO Jason T. Liberty sold 50,000 shares of the company’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 completion of the sale, the chief executive officer now 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 available through the SEC website. Also, CEO Michael W. Bayley sold 11,753 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 166,537 shares of the company’s stock, valued at approximately $19,319,957.37. The disclosure for this sale can be found here. Corporate 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.