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

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

Analyst Ratings Changes

A number of analysts have commented on the stock. UBS Group lifted their target price on shares of Royal Caribbean Cruises from $148.00 to $154.00 and gave the stock a buy rating in a report on Friday, February 16th. Morgan Stanley boosted 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. Stifel Nicolaus boosted their price target on shares of Royal Caribbean Cruises from $170.00 to $174.00 and gave the company a buy rating in a report on Thursday, February 22nd. Macquarie boosted their price target 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. Finally, Barclays boosted their price target on shares of Royal Caribbean Cruises from $150.00 to $154.00 and gave the company an overweight rating in a report on Thursday, April 11th. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, Royal Caribbean Cruises has an average rating of Moderate Buy and a consensus target price of $136.94.

Royal Caribbean Cruises Stock Up 0.0 %

Shares of RCL stock opened at $136.68 on Thursday. The company has a debt-to-equity ratio of 4.03, a quick ratio of 0.16 and a current ratio of 0.19. The firm’s 50-day moving average is $129.31 and its 200-day moving average is $116.96. The stock has a market cap of $35.08 billion, a price-to-earnings ratio of 21.97, a PEG ratio of 0.50 and a beta of 2.52. Royal Caribbean Cruises has a 52-week low of $59.37 and a 52-week high of $141.70.

Royal Caribbean Cruises (NYSE:RCL) last announced its quarterly earnings results on Thursday, February 1st. The company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates 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 business had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.36 billion. During the same quarter in the prior year, the business earned ($1.12) EPS. Royal Caribbean Cruises’s quarterly revenue was up 28.0% on a year-over-year basis. Sell-side analysts predict that Royal Caribbean Cruises will post 9.99 EPS for the current year.

Insider Activity at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, CEO Michael W. Bayley sold 11,753 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now 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 is accessible through the SEC website. 8.70% of the stock is owned by company 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.