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 earnings per share (EPS) guidance of 10.700-10.900 for the period, compared to the consensus 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 %

Shares of 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 business’s fifty 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 firm has a market capitalization of $36.08 billion, a P/E ratio of 22.60, a P/E/G ratio of 0.50 and a beta of 2.52.

Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings data on Thursday, April 25th. The company reported $1.77 earnings per share for the quarter, topping 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 net margin of 12.22% and a return on equity of 45.55%. The company’s revenue was up 29.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.23) EPS. As a group, research analysts expect that Royal Caribbean Cruises will post 10.06 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Mizuho increased their target price on shares of Royal Caribbean Cruises from $164.00 to $168.00 and gave the company a buy rating in a report on Friday. Stifel Nicolaus raised their target price on Royal Caribbean Cruises from $170.00 to $174.00 and gave the company a buy rating in a report on Thursday, February 22nd. Wells Fargo & Company raised their price objective on Royal Caribbean Cruises from $153.00 to $159.00 and gave the company an overweight rating in a research note on Friday. Morgan Stanley lifted 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. Finally, UBS Group raised their price target on shares of Royal Caribbean Cruises from $148.00 to $154.00 and gave the company a buy rating in a research note on Friday, February 16th. Two investment 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 stock currently has an average rating of Moderate Buy and an average price target of $138.76.

Insider Activity at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, CEO Jason T. Liberty sold 50,000 shares of Royal Caribbean Cruises stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 153,017 shares in the company, valued at approximately $21,365,763.71. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, CEO Michael W. Bayley sold 11,753 shares of the business’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 value of $1,363,465.53. Following the completion of the sale, 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 document filed with the SEC, which is available at this link. Also, CEO Jason T. Liberty sold 50,000 shares of the 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 completion of the transaction, the chief executive officer now 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 insiders.

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.