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

Royal Caribbean Cruises (NYSE:RCL) issued an update on its second quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $2.65 to $2.75 for the period, compared to the consensus estimate of $2.37. Royal Caribbean Cruises also updated its FY 2024 guidance to 10.700-10.900 EPS.

Royal Caribbean Cruises Stock Up 2.3 %

NYSE:RCL traded up $3.11 during trading hours on Friday, reaching $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 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 has a one year low of $59.38 and a one year high of $141.70. The business’s 50-day moving average is $130.20 and its 200-day moving average is $117.47. 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 (NYSE:RCL) last announced its quarterly earnings data on Thursday, April 25th. The company reported $1.77 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.44. The business had revenue of $3.73 billion during the quarter, compared to analyst estimates of $3.69 billion. Royal Caribbean Cruises had a net margin of 12.22% and a return on equity of 45.55%. The firm’s revenue for the quarter was up 29.2% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.23) earnings per share. Equities research analysts predict that Royal Caribbean Cruises will post 10.06 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have weighed in on RCL. Stifel Nicolaus upped 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. Susquehanna upped their price objective on shares of Royal Caribbean Cruises from $150.00 to $160.00 and gave the stock a positive rating in a research note on Friday. UBS Group increased their price target on shares of Royal Caribbean Cruises from $148.00 to $154.00 and gave the company a buy rating in a research note on Friday, February 16th. Macquarie increased their price target 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. Finally, Morgan Stanley increased their price target 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 investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus target price of $138.76.

Insider Buying and Selling

In related news, CEO Michael W. Bayley sold 11,753 shares of the firm’s stock in a transaction on 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 sale, 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 document filed with the SEC, which is available at this hyperlink. In related news, CEO Michael W. Bayley sold 11,753 shares of the firm’s stock in a transaction on 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 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 SEC, which can be accessed through the SEC website. Also, CEO Jason T. Liberty sold 50,000 shares of the firm’s stock in a transaction on 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 directly owns 153,017 shares of the company’s stock, valued at approximately $21,365,763.71. The disclosure for this sale can be found here. 8.70% of the stock is currently owned by company insiders.

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.