Royal Caribbean Cruises (NYSE:RCL) Releases Q2 2024 Earnings Guidance

Royal Caribbean Cruises (NYSE:RCL) issued an update on its second quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 2.650-2.750 for the period, compared to the consensus estimate of 2.370. The company issued revenue guidance of -. Royal Caribbean Cruises also updated its FY 2024 guidance to 10.700-10.900 EPS.

Royal Caribbean Cruises Trading Up 2.3 %

Shares of NYSE RCL traded up $3.11 during trading hours on Friday, hitting $140.58. The company’s stock had a trading volume of 2,759,776 shares, compared to its average volume of 2,785,707. The company has a debt-to-equity ratio of 4.03, a quick ratio of 0.16 and a current ratio of 0.19. Royal Caribbean Cruises has a 12 month low of $59.38 and a 12 month high of $141.70. The business has a 50-day simple moving average of $130.20 and a 200-day simple moving average of $117.47. The stock has a market cap of $36.08 billion, a price-to-earnings ratio of 22.60, a P/E/G ratio of 0.50 and a beta of 2.52.

Royal Caribbean Cruises (NYSE:RCL) last released its earnings results 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. Royal Caribbean Cruises had a net margin of 12.22% and a return on equity of 45.55%. The firm had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.69 billion. During the same period last year, the business earned ($0.23) earnings per share. The business’s revenue was up 29.2% on a year-over-year basis. On average, analysts anticipate that Royal Caribbean Cruises will post 10.06 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on RCL. Mizuho raised their price target on shares of Royal Caribbean Cruises from $164.00 to $168.00 and gave the company a buy rating in a research report on Friday. The Goldman Sachs Group reissued a buy rating on shares of Royal Caribbean Cruises in a research report on Monday, April 1st. Stifel Nicolaus lifted their target price on shares of Royal Caribbean Cruises from $170.00 to $174.00 and gave the company a buy rating in a research note on Thursday, February 22nd. Barclays boosted their price target on shares of Royal Caribbean Cruises from $154.00 to $165.00 and gave the stock an overweight rating in a research note on Friday. Finally, Susquehanna upped their target price on shares of Royal Caribbean Cruises from $150.00 to $160.00 and gave the company a positive rating in a research report on Friday. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $138.76.

Insiders Place Their Bets

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 value of $1,363,465.53. Following the transaction, the chief executive officer now directly owns 166,537 shares in the company, valued at approximately $19,319,957.37. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Jason T. Liberty sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, April 26th. The shares were sold at an average price of $139.63, for a total value of $6,981,500.00. Following the completion of 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 filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael W. Bayley sold 11,753 shares of the company’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 166,537 shares of the company’s stock, valued at approximately $19,319,957.37. 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.