Royal Caribbean Cruises (NYSE:RCL) Releases FY24 Earnings Guidance

Royal Caribbean Cruises (NYSE:RCL) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $10.70 to $10.90 for the period, compared to the consensus estimate of $10.00. Royal Caribbean Cruises also updated its FY 2024 guidance to 10.700-10.900 EPS.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Stifel Nicolaus boosted their price objective on shares of Royal Caribbean Cruises from $170.00 to $174.00 and gave the stock a buy rating in a research note on Thursday, February 22nd. Barclays upped their target price on shares of Royal Caribbean Cruises from $154.00 to $165.00 and gave the company an overweight rating in a research note on Friday. Macquarie upped their target price on shares of Royal Caribbean Cruises from $145.00 to $160.00 and gave the company an outperform rating in a research note on Friday, March 15th. The Goldman Sachs Group restated a buy rating on shares of Royal Caribbean Cruises in a research note on Monday, April 1st. Finally, Wells Fargo & Company upped their price target on shares of Royal Caribbean Cruises from $153.00 to $159.00 and gave the company an overweight rating in a report on Friday. Two 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, the stock has a consensus rating of Moderate Buy and a consensus price target of $138.76.

Royal Caribbean Cruises Price Performance

Shares of NYSE:RCL traded up $3.11 during trading hours on Friday, hitting $140.58. 2,759,776 shares of the company’s stock traded hands, compared to its average volume of 2,785,707. Royal Caribbean Cruises has a 52 week low of $59.38 and a 52 week high of $141.70. 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 company’s fifty day simple moving average is $130.20 and its two-hundred day simple moving average is $117.47. The company has a market cap of $36.08 billion, a price-to-earnings ratio of 22.60, a price-to-earnings-growth ratio of 0.50 and a beta of 2.52.

Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings data on Thursday, April 25th. The company reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.44. Royal Caribbean Cruises had a net margin of 12.22% and a return on equity of 45.55%. The company had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.69 billion. During the same quarter last year, the firm posted ($0.23) EPS. The business’s revenue for the quarter was up 29.2% on a year-over-year basis. As a group, equities analysts anticipate that Royal Caribbean Cruises will post 10.06 EPS for the current fiscal year.

Insider Activity

In other news, CEO Jason T. Liberty sold 50,000 shares of the firm’s 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 completion of the transaction, the chief executive officer now owns 153,017 shares in the company, valued at approximately $21,365,763.71. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Royal Caribbean Cruises news, CEO Michael W. Bayley sold 11,753 shares of the company’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 completion of the sale, the chief executive officer now directly owns 166,537 shares of the company’s stock, valued at $19,319,957.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Jason T. Liberty sold 50,000 shares of the company’s 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 directly owns 153,017 shares of the company’s stock, valued at $21,365,763.71. The disclosure for this sale can be found here. Insiders own 8.70% of the company’s stock.

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.