Royal Caribbean Cruises (NYSE:RCL) Issues FY 2024 Earnings Guidance

Royal Caribbean Cruises (NYSE:RCL) updated its FY 2024 earnings guidance on Thursday. The company provided EPS guidance of 10.700-10.900 for the period, compared to the consensus EPS 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.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the company. UBS Group lifted their price target on Royal Caribbean Cruises from $148.00 to $154.00 and gave the company a buy rating in a report on Friday, February 16th. The Goldman Sachs Group reissued a buy rating on shares of Royal Caribbean Cruises in a research note on Monday, April 1st. Macquarie raised their price objective on Royal Caribbean Cruises from $145.00 to $160.00 and gave the company an outperform rating in a research note on Friday, March 15th. Morgan Stanley raised their price objective on 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. Finally, Wells Fargo & Company lifted their price target on Royal Caribbean Cruises from $151.00 to $153.00 and gave the stock an overweight rating in a research report on Monday, February 26th. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $136.94.

Royal Caribbean Cruises Trading Up 1.2 %

Shares of RCL stock traded up $1.68 on Thursday, reaching $138.41. 1,050,980 shares of the stock were exchanged, compared to its average volume of 2,725,813. The stock has a market cap of $35.53 billion, a PE ratio of 21.97, a P/E/G ratio of 0.50 and a beta of 2.52. Royal Caribbean Cruises has a one year low of $59.37 and a one year high of $141.70. The company has a debt-to-equity ratio of 4.03, a current ratio of 0.19 and a quick ratio of 0.16. The stock has a 50 day moving average price of $129.31 and a 200 day moving average price of $116.96.

Royal Caribbean Cruises (NYSE:RCL) last released its earnings results on Thursday, February 1st. The company reported $1.25 earnings per share for the quarter, topping analysts’ consensus estimates of $1.13 by $0.12. The company 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%. The firm’s quarterly revenue was up 28.0% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.12) earnings per share. Equities research 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 company’s 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 sale, the chief executive officer now owns 166,537 shares in the company, valued at $19,319,957.37. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 8.70% of the stock is currently owned by corporate 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.