Royal Caribbean Cruises (NYSE:RCL) Releases 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.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on RCL shares. Wells Fargo & Company boosted their price target on shares of Royal Caribbean Cruises from $153.00 to $159.00 and gave the stock an overweight rating in a research report on Friday. Susquehanna boosted their price objective on Royal Caribbean Cruises from $150.00 to $160.00 and gave the stock a positive rating in a research note on Friday. Macquarie boosted their price objective on Royal Caribbean Cruises from $145.00 to $160.00 and gave the company an outperform rating in a report on Friday, March 15th. UBS Group increased their target price on Royal Caribbean Cruises from $148.00 to $154.00 and gave the stock a buy rating in a research note on Friday, February 16th. Finally, Morgan Stanley boosted their target price 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. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average target price of $138.76.

Royal Caribbean Cruises Stock Up 2.3 %

NYSE RCL traded up $3.12 during trading on Friday, reaching $140.59. 2,759,875 shares of the company’s stock traded hands, compared to its average volume of 2,933,396. Royal Caribbean Cruises has a 12-month low of $59.38 and a 12-month high of $141.70. The company has a debt-to-equity ratio of 3.54, a current ratio of 0.19 and a quick ratio of 0.16. The firm has a market cap of $36.09 billion, a price-to-earnings ratio of 18.12, a price-to-earnings-growth ratio of 0.47 and a beta of 2.52. The company’s 50 day simple moving average is $130.20 and its two-hundred day simple moving average is $117.67.

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

Insider Activity

In other Royal Caribbean Cruises news, CEO Michael W. Bayley sold 11,753 shares of the business’s stock in a transaction dated Tuesday, February 13th. The shares were 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 directly owns 166,537 shares in the company, valued at $19,319,957.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other 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 value of $1,363,465.53. Following the sale, the chief executive officer now directly owns 166,537 shares in the company, valued at approximately $19,319,957.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jason T. Liberty sold 50,000 shares of Royal Caribbean Cruises 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 directly owns 153,017 shares in the company, valued at approximately $21,365,763.71. The disclosure for this sale can be found here. Company insiders own 8.70% of the company’s stock.

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.