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

Royal Caribbean Cruises (NYSE:RCL) issued an update on its second quarter 2024 earnings guidance on Thursday morning. 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 NYSE RCL traded up $1.68 during trading on Thursday, hitting $138.41. The company had a trading volume of 1,050,980 shares, compared to its average volume of 2,725,813. The stock has a fifty day simple moving average of $129.31 and a two-hundred day simple moving average of $116.96. Royal Caribbean Cruises has a fifty-two week low of $59.37 and a fifty-two week high of $141.70. The firm has a market capitalization of $35.53 billion, a price-to-earnings ratio of 21.97, a price-to-earnings-growth ratio of 0.50 and a beta of 2.52. The company has a quick ratio of 0.16, a current ratio of 0.19 and a debt-to-equity ratio of 4.03.

Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings results on Thursday, February 1st. The company reported $1.25 earnings per share for the quarter, topping the consensus estimate of $1.13 by $0.12. Royal Caribbean Cruises had a net margin of 12.22% and a return on equity of 45.55%. The firm had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.36 billion. During the same period last year, the firm posted ($1.12) earnings per share. The company’s revenue for the quarter was up 28.0% on a year-over-year basis. On average, research analysts expect that Royal Caribbean Cruises will post 9.99 earnings per share for the current year.

Analyst Upgrades and Downgrades

RCL has been the subject of several analyst reports. 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. The Goldman Sachs Group reiterated a buy rating on shares of Royal Caribbean Cruises in a research report on Monday, April 1st. Mizuho assumed coverage on shares of Royal Caribbean Cruises in a research report on Wednesday, April 17th. They issued a buy rating and a $164.00 price target for the company. 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 research report on Wednesday, February 7th. Finally, UBS Group upped 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 report on Friday, February 16th. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, Royal Caribbean Cruises presently has a consensus rating of Moderate Buy and an average target price of $136.94.

Insider Activity at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, CEO Michael W. Bayley sold 11,753 shares of the firm’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 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. 8.70% of the stock is owned by corporate 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.