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

Royal Caribbean Cruises (NYSE:RCL) updated its second quarter earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $2.65 to $2.75 for the period, compared to the consensus estimate of $2.37. Royal Caribbean Cruises also updated its FY 2024 guidance to 10.700-10.900 EPS.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on RCL. Macquarie raised their price target 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. Morgan Stanley raised 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 research note on Wednesday, February 7th. Barclays raised their price target on shares of Royal Caribbean Cruises from $154.00 to $165.00 and gave the company an overweight rating in a research note on Friday. UBS Group raised their price target on shares of Royal Caribbean Cruises from $148.00 to $154.00 and gave the company a buy rating in a research note on Friday, February 16th. Finally, The Goldman Sachs Group reissued a buy rating on shares of Royal Caribbean Cruises in a research note on Monday, April 1st. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $138.76.

Royal Caribbean Cruises Stock Up 2.3 %

Shares of NYSE RCL traded up $3.11 during mid-day trading on Friday, reaching $140.58. 2,759,776 shares of the company’s stock traded hands, compared to its average volume of 2,785,707. The stock has a market cap of $36.08 billion, a P/E ratio of 22.60, a PEG ratio of 0.50 and a beta of 2.52. The business has a 50-day simple moving average of $130.20 and a 200 day simple moving average of $117.47. Royal Caribbean Cruises has a 1-year low of $59.38 and a 1-year high of $141.70. The company has a debt-to-equity ratio of 4.03, a current ratio of 0.19 and a quick ratio of 0.16.

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. The firm had revenue of $3.73 billion during 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 business’s revenue for the quarter was up 29.2% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.23) EPS. On average, analysts expect that Royal Caribbean Cruises will post 10.06 EPS for the current fiscal year.

Insider Buying and Selling

In other Royal Caribbean Cruises news, CEO Michael W. Bayley sold 11,753 shares of Royal Caribbean Cruises stock in a transaction dated Tuesday, February 13th. The stock was 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 of the company’s stock, valued at approximately $19,319,957.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CEO Jason T. Liberty sold 50,000 shares of the business’s stock in a transaction dated Friday, April 26th. The stock was sold at an average price of $139.63, for a total transaction 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 $21,365,763.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael W. Bayley sold 11,753 shares of the business’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 166,537 shares of the company’s stock, valued at approximately $19,319,957.37. The disclosure for this sale can be found here. 8.70% of the stock is currently owned by insiders.

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.