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

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

Analyst Ratings Changes

A number of brokerages recently weighed in on RCL. Susquehanna lifted their target price on shares of Royal Caribbean Cruises from $150.00 to $160.00 and gave the stock a positive rating in a research note on Friday. Macquarie lifted their price objective 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. UBS Group lifted their price objective 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. The Goldman Sachs Group restated a buy rating on shares of Royal Caribbean Cruises in a report on Monday, April 1st. Finally, Stifel Nicolaus boosted their price target on shares of Royal Caribbean Cruises from $170.00 to $174.00 and gave the stock a buy rating in a report on Thursday, February 22nd. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $138.76.

Royal Caribbean Cruises Stock Performance

RCL stock traded up $3.12 during mid-day trading on Friday, hitting $140.59. The company had a trading volume of 2,759,875 shares, compared to its average volume of 2,933,396. The stock’s fifty day moving average price is $130.20 and its two-hundred day moving average price is $117.47. Royal Caribbean Cruises has a 12 month low of $59.38 and a 12 month high of $141.70. The company has a debt-to-equity ratio of 3.54, a quick ratio of 0.16 and a current ratio of 0.19. The firm has a market cap of $36.09 billion, a PE ratio of 18.12, a price-to-earnings-growth ratio of 0.46 and a beta of 2.52.

Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly 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. Royal Caribbean Cruises had a net margin of 14.28% and a return on equity of 51.54%. The company had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.69 billion. During the same quarter in the previous year, the firm posted ($0.23) earnings per share. The company’s quarterly revenue was up 29.2% compared to the same quarter last year. On average, analysts forecast that Royal Caribbean Cruises will post 10.8 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Royal Caribbean Cruises news, CEO Jason T. Liberty sold 50,000 shares of the business’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 transaction, the chief executive officer now owns 153,017 shares of the company’s stock, valued at approximately $21,365,763.71. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Michael W. Bayley sold 11,753 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $116.01, for a total value of $1,363,465.53. Following the completion of the transaction, the chief executive officer now directly owns 166,537 shares in the company, valued at approximately $19,319,957.37. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Jason T. Liberty sold 50,000 shares of the stock in a transaction dated 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 sale, the chief executive officer now directly owns 153,017 shares in the company, valued at $21,365,763.71. The disclosure for this sale can be found here. 8.70% of the stock is currently 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.