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

Royal Caribbean Cruises (NYSE:RCL) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 11.350-11.450 for the period, compared to the consensus earnings per share estimate of 11.080. The company issued revenue guidance of -. Royal Caribbean Cruises also updated its FY24 guidance to $11.35-$11.45 EPS.

Royal Caribbean Cruises Trading Up 1.0 %

RCL stock traded up $1.54 during mid-day trading on Friday, reaching $153.56. The company had a trading volume of 3,412,790 shares, compared to its average volume of 2,522,631. The company has a debt-to-equity ratio of 3.54, a current ratio of 0.19 and a quick ratio of 0.16. The company has a market capitalization of $39.52 billion, a PE ratio of 19.77, a price-to-earnings-growth ratio of 0.49 and a beta of 2.62. The firm has a 50 day moving average of $156.09 and a 200 day moving average of $138.63. Royal Caribbean Cruises has a 12 month low of $78.35 and a 12 month high of $173.37.

Royal Caribbean Cruises (NYSE:RCL) last posted its earnings results on Thursday, July 25th. The company reported $3.21 EPS for the quarter, beating analysts’ consensus estimates of $2.77 by $0.44. The company had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.05 billion. Royal Caribbean Cruises had a net margin of 14.28% and a return on equity of 51.54%. Royal Caribbean Cruises’s revenue for the quarter was up 16.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.82 earnings per share. On average, equities analysts predict that Royal Caribbean Cruises will post 11.15 earnings per share for the current fiscal year.

Royal Caribbean Cruises Announces Dividend

The business also recently declared a — dividend, which will be paid on Friday, October 11th. Shareholders of record on Friday, September 20th will be issued a $0.40 dividend. The ex-dividend date of this dividend is Friday, September 20th.

Wall Street Analyst Weigh In

Several analysts recently commented on RCL shares. Wells Fargo & Company raised their price target on shares of Royal Caribbean Cruises from $159.00 to $165.00 and gave the company an overweight rating in a research report on Friday, May 17th. Barclays lifted their target price on shares of Royal Caribbean Cruises from $185.00 to $195.00 and gave the company an overweight rating in a research report on Friday. Stifel Nicolaus lifted their target price on shares of Royal Caribbean Cruises from $180.00 to $200.00 and gave the company a buy rating in a research report on Friday, July 19th. JPMorgan Chase & Co. lifted their target price on shares of Royal Caribbean Cruises from $175.00 to $210.00 and gave the company an overweight rating in a research report on Wednesday. Finally, The Goldman Sachs Group raised their price target on shares of Royal Caribbean Cruises from $170.00 to $195.00 and gave the stock a buy rating in a research note on Wednesday, July 17th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $172.25.

Insider Activity

In related news, CEO Michael W. Bayley sold 24,201 shares of the company’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $140.21, for a total value of $3,393,222.21. Following the completion of the sale, the chief executive officer now owns 98,850 shares in the company, valued at approximately $13,859,758.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CAO Henry L. Pujol sold 9,944 shares of the stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $141.23, for a total value of $1,404,391.12. Following the sale, the chief accounting officer now directly owns 16,687 shares of the company’s stock, valued at approximately $2,356,705.01. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Michael W. Bayley sold 24,201 shares of the firm’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $140.21, for a total transaction of $3,393,222.21. Following the sale, the chief executive officer now directly owns 98,850 shares in the company, valued at $13,859,758.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 102,884 shares of company stock worth $15,071,485. Corporate insiders own 7.95% 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.