Royal Caribbean Cruises (NYSE:RCL) Issues Q2 2024 Earnings Guidance

Royal Caribbean Cruises (NYSE:RCL) updated its second quarter 2024 earnings guidance on Thursday. The company provided EPS guidance of 2.650-2.750 for the period, compared to the consensus EPS estimate of 2.370. The company issued revenue guidance of -. Royal Caribbean Cruises also updated its FY 2024 guidance to 10.700-10.900 EPS.

Royal Caribbean Cruises Price Performance

Shares of RCL stock traded up $3.11 during mid-day trading on Friday, reaching $140.58. The stock had a trading volume of 2,759,776 shares, compared to its average volume of 2,785,707. The business has a 50-day simple moving average of $130.20 and a 200 day simple moving average of $117.47. The company has a market cap of $36.08 billion, a P/E ratio of 22.60, a price-to-earnings-growth ratio of 0.50 and a beta of 2.52. The company has a current ratio of 0.19, a quick ratio of 0.16 and a debt-to-equity ratio of 4.03. Royal Caribbean Cruises has a 12-month low of $59.38 and a 12-month high of $141.70.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings data on Thursday, April 25th. The company reported $1.77 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.44. The company had revenue of $3.73 billion for the quarter, compared to the consensus estimate of $3.69 billion. Royal Caribbean Cruises had a return on equity of 45.55% and a net margin of 12.22%. The company’s quarterly revenue was up 29.2% compared to the same quarter last year. During the same period last year, the business posted ($0.23) EPS. On average, sell-side analysts anticipate that Royal Caribbean Cruises will post 10.06 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages recently commented on RCL. Mizuho boosted their target price on Royal Caribbean Cruises from $164.00 to $168.00 and gave the stock a buy rating in a report on Friday. Susquehanna upped their price objective on Royal Caribbean Cruises from $150.00 to $160.00 and gave the company a positive rating in a report on Friday. Barclays lifted their target price on Royal Caribbean Cruises from $154.00 to $165.00 and gave the stock an overweight rating in a report on Friday. Morgan Stanley upped their price target on shares of Royal Caribbean Cruises from $100.00 to $115.00 and gave the company an equal weight rating in a report on Wednesday, February 7th. Finally, Macquarie lifted their price objective on shares of Royal Caribbean Cruises from $145.00 to $160.00 and gave the stock an outperform rating in a research note on Friday, March 15th. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus price target of $138.76.

Insider Transactions 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 owns 153,017 shares of the company’s stock, valued at approximately $21,365,763.71. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, CEO Michael W. Bayley sold 11,753 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now owns 166,537 shares in the company, valued at $19,319,957.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jason T. Liberty sold 50,000 shares of the firm’s stock in a transaction 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 transaction, the chief executive officer now directly 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. Corporate insiders own 8.70% 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.