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

Royal Caribbean Cruises (NYSE:RCL) updated its FY24 earnings guidance on Tuesday. The company provided EPS guidance of $11.57-11.62 for the period, compared to the consensus EPS estimate of $11.58. Royal Caribbean Cruises also updated its FY 2024 guidance to 11.570-11.620 EPS.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the company. Tigress Financial lifted their price target on Royal Caribbean Cruises from $155.00 to $210.00 and gave the company a “buy” rating in a research note on Friday, August 2nd. The Goldman Sachs Group upped their price target on Royal Caribbean Cruises from $220.00 to $245.00 and gave the company a “buy” rating in a research report on Wednesday. StockNews.com lowered Royal Caribbean Cruises from a “hold” rating to a “sell” rating in a research report on Wednesday. Morgan Stanley upped their price target on Royal Caribbean Cruises from $140.00 to $154.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 7th. Finally, Macquarie upped their price target on Royal Caribbean Cruises from $189.00 to $250.00 and gave the company an “outperform” rating in a research report on Wednesday. One analyst has rated the stock with a sell rating, two have issued a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $214.00.

Royal Caribbean Cruises Stock Performance

Shares of NYSE:RCL traded down $0.68 during trading on Friday, reaching $205.67. 430,936 shares of the company’s stock traded hands, compared to its average volume of 2,393,033. Royal Caribbean Cruises has a 12 month low of $86.75 and a 12 month high of $214.12. The company has a debt-to-equity ratio of 2.63, a current ratio of 0.19 and a quick ratio of 0.17. The stock has a market capitalization of $55.30 billion, a P/E ratio of 21.21, a price-to-earnings-growth ratio of 0.61 and a beta of 2.61. The company has a 50 day moving average of $180.26 and a 200-day moving average of $161.00.

Royal Caribbean Cruises (NYSE:RCL) last posted its earnings results on Tuesday, October 29th. The company reported $5.20 EPS for the quarter, topping the consensus estimate of $5.05 by $0.15. The firm had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $4.89 billion. Royal Caribbean Cruises had a net margin of 16.21% and a return on equity of 52.92%. Royal Caribbean Cruises’s quarterly revenue was up 17.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.85 EPS. On average, equities analysts expect that Royal Caribbean Cruises will post 11.6 EPS for the current year.

Insider Transactions at Royal Caribbean Cruises

In related news, insider Laura H. Bethge sold 3,073 shares of the stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $168.71, for a total transaction of $518,445.83. Following the completion of the sale, the insider now directly owns 27,388 shares of the company’s stock, valued at $4,620,629.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Vagn O. Sorensen sold 5,800 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $158.50, for a total value of $919,300.00. Following the transaction, the director now directly owns 25,837 shares in the company, valued at approximately $4,095,164.50. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Laura H. Bethge sold 3,073 shares of the firm’s stock in a transaction on Thursday, August 29th. The stock was sold at an average price of $168.71, for a total transaction of $518,445.83. Following the completion of the sale, the insider now owns 27,388 shares in the company, valued at $4,620,629.48. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company 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.