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

Royal Caribbean Cruises (NYSE:RCL) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 10.700-10.900 for the period, compared to the consensus estimate of 10.060. The company issued revenue guidance of -. Royal Caribbean Cruises also updated its FY24 guidance to $10.70 to $10.90 EPS.

Royal Caribbean Cruises Price Performance

Shares of Royal Caribbean Cruises stock traded up $3.12 during trading on Friday, hitting $140.59. The stock had a trading volume of 2,759,875 shares, compared to its average volume of 2,933,396. The firm has a market cap of $36.09 billion, a price-to-earnings ratio of 18.12, a P/E/G ratio of 0.47 and a beta of 2.52. Royal Caribbean Cruises has a 12 month low of $59.38 and a 12 month high of $141.70. The business’s 50-day moving average is $130.20 and its 200 day moving average is $117.67. The company has a current ratio of 0.19, a quick ratio of 0.16 and a debt-to-equity ratio of 3.54.

Royal Caribbean Cruises (NYSE:RCL) last announced its earnings results on Thursday, April 25th. The company reported $1.77 earnings per share for the quarter, topping analysts’ consensus estimates of $1.33 by $0.44. The business had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.69 billion. Royal Caribbean Cruises had a return on equity of 51.54% and a net margin of 14.28%. The company’s quarterly revenue was up 29.2% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.23) EPS. As a group, sell-side analysts anticipate that Royal Caribbean Cruises will post 10.8 earnings per share for the current year.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Mizuho boosted their price target on shares of Royal Caribbean Cruises from $164.00 to $168.00 and gave the stock a buy rating in a research note on Friday. Barclays increased their target price on Royal Caribbean Cruises from $154.00 to $165.00 and gave the company an overweight rating in a research note on Friday. Susquehanna raised their price target on Royal Caribbean Cruises from $150.00 to $160.00 and gave the company a positive rating in a research report on Friday. The Goldman Sachs Group reiterated a buy rating on shares of Royal Caribbean Cruises in a research report on Monday, April 1st. Finally, Stifel Nicolaus boosted their target price on Royal Caribbean Cruises from $170.00 to $174.00 and gave the stock a buy rating in a research 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 stock. Based on data from MarketBeat, Royal Caribbean Cruises presently has an average rating of Moderate Buy and a consensus target price of $138.76.

Insider Buying and Selling at Royal Caribbean Cruises

In related news, CEO Jason T. Liberty sold 50,000 shares of the company’s stock in a transaction that occurred on 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 in the company, valued at $21,365,763.71. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CEO Jason T. Liberty sold 50,000 shares of Royal Caribbean Cruises 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 owns 153,017 shares of the company’s stock, valued at approximately $21,365,763.71. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael W. Bayley sold 11,753 shares of the 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 directly owns 166,537 shares of the company’s stock, valued at $19,319,957.37. The disclosure for this sale can be found here. 8.70% of the stock is currently owned by corporate 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.