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.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Barclays boosted their price objective on shares of Royal Caribbean Cruises from $150.00 to $154.00 and gave the company an overweight rating in a research note on Thursday, April 11th. Susquehanna boosted their target price on shares of Royal Caribbean Cruises from $120.00 to $150.00 and gave the stock a positive rating in a research report on Wednesday, January 31st. Mizuho initiated coverage on shares of Royal Caribbean Cruises in a research report on Wednesday, April 17th. They set a buy rating and a $164.00 target price on the stock. Morgan Stanley boosted their target price on shares of Royal Caribbean Cruises from $100.00 to $115.00 and gave the stock an equal weight rating in a research report on Wednesday, February 7th. Finally, UBS Group boosted their price objective on shares of Royal Caribbean Cruises from $148.00 to $154.00 and gave the stock a buy rating in a research report on Friday, February 16th. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat.com, 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 Royal Caribbean Cruises stock opened at $136.68 on Thursday. 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 has a 1-year low of $59.37 and a 1-year high of $141.70. The business has a 50-day moving average of $129.31 and a 200-day moving average of $116.96. The company has a market capitalization of $35.08 billion, a PE ratio of 21.97, a P/E/G ratio of 0.50 and a beta of 2.52.

Royal Caribbean Cruises (NYSE:RCL) last issued 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. The firm had revenue of $3.33 billion during the quarter, compared to the consensus estimate of $3.36 billion. Royal Caribbean Cruises had a return on equity of 45.55% and a net margin of 12.22%. Royal Caribbean Cruises’s revenue for the quarter was up 28.0% on a year-over-year basis. During the same quarter in the prior year, the business posted ($1.12) earnings per share. As a group, equities analysts forecast that Royal Caribbean Cruises will post 9.99 EPS for the current fiscal year.

Insider Activity at Royal Caribbean Cruises

In related news, 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 value 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 $19,319,957.37. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 8.70% of the stock is currently owned by company 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.