Royal Caribbean Cruises (NYSE:RCL) Issues 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.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. 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 research note on Friday, February 16th. 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 note on Friday. Macquarie upped their target price on shares of Royal Caribbean Cruises from $145.00 to $160.00 and gave the company an outperform rating in a research note on Friday, March 15th. The Goldman Sachs Group restated a buy rating on shares of Royal Caribbean Cruises in a research note on Monday, April 1st. Finally, Morgan Stanley upped their target price on shares of Royal Caribbean Cruises from $100.00 to $115.00 and gave the company an equal weight rating in a research note on Wednesday, February 7th. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, Royal Caribbean Cruises presently has a consensus rating of Moderate Buy and an average price target of $138.76.

Royal Caribbean Cruises Price Performance

RCL traded up $3.12 during trading on Friday, reaching $140.59. 2,759,875 shares of the company traded hands, compared to its average volume of 2,933,396. The company has a debt-to-equity ratio of 3.54, a quick ratio of 0.16 and a current ratio of 0.19. Royal Caribbean Cruises has a 12-month low of $59.38 and a 12-month high of $141.70. The firm has a fifty day simple moving average of $130.20 and a 200 day simple moving average of $117.47. The company has a market cap of $36.09 billion, a P/E ratio of 18.12, a PEG ratio of 0.46 and a beta of 2.52.

Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings data on Thursday, April 25th. The company reported $1.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.33 by $0.44. Royal Caribbean Cruises had a net margin of 14.28% and a return on equity of 51.54%. The business had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.69 billion. During the same period last year, the firm posted ($0.23) EPS. The company’s revenue was up 29.2% on a year-over-year basis. On average, equities analysts forecast that Royal Caribbean Cruises will post 10.8 EPS for the current year.

Insider Buying and Selling at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, CEO Michael W. Bayley sold 11,753 shares of the stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $116.01, for a total transaction 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 $19,319,957.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Michael W. Bayley sold 11,753 shares of the firm’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 directly owns 166,537 shares of the company’s stock, valued at approximately $19,319,957.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jason T. Liberty sold 50,000 shares of Royal Caribbean Cruises 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 of the company’s stock, valued at approximately $21,365,763.71. The disclosure for this sale can be found here. 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.