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

Royal Caribbean Cruises (NYSE:RCL) updated its FY24 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $11.35-$11.45 for the period, compared to the consensus estimate of $11.09. Royal Caribbean Cruises also updated its FY 2024 guidance to 11.350-11.450 EPS.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on RCL. UBS Group increased their target price on shares of Royal Caribbean Cruises from $154.00 to $168.00 and gave the stock a buy rating in a report on Tuesday, May 14th. Stifel Nicolaus increased their price objective on shares of Royal Caribbean Cruises from $180.00 to $200.00 and gave the company a buy rating in a report on Friday, July 19th. Truist Financial increased their price objective on shares of Royal Caribbean Cruises from $151.00 to $175.00 and gave the company a buy rating in a report on Wednesday, May 29th. Bank of America increased their price objective on shares of Royal Caribbean Cruises from $145.00 to $172.00 and gave the company a neutral rating in a report on Tuesday. Finally, JPMorgan Chase & Co. increased their price objective on shares of Royal Caribbean Cruises from $175.00 to $210.00 and gave the company an overweight rating in a report on Wednesday. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat, Royal Caribbean Cruises currently has an average rating of Moderate Buy and an average price target of $169.94.

Royal Caribbean Cruises Price Performance

Shares of RCL stock traded down $12.53 on Thursday, reaching $151.98. The company’s stock had a trading volume of 6,497,790 shares, compared to its average volume of 2,516,343. The stock’s fifty day simple moving average is $156.09 and its 200-day simple moving average is $138.63. Royal Caribbean Cruises has a 1 year low of $78.35 and a 1 year high of $173.37. The company has a current ratio of 0.19, a quick ratio of 0.16 and a debt-to-equity ratio of 3.54. The company has a market capitalization of $39.11 billion, a price-to-earnings ratio of 19.59, a price-to-earnings-growth ratio of 0.51 and a beta of 2.62.

Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings results on Thursday, July 25th. The company reported $3.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.77 by $0.44. The company had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.05 billion. Royal Caribbean Cruises had a return on equity of 51.54% and a net margin of 14.28%. Royal Caribbean Cruises’s revenue was up 16.4% on a year-over-year basis. During the same period last year, the company earned $1.82 earnings per share. Analysts forecast that Royal Caribbean Cruises will post 11.14 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CAO Henry L. Pujol sold 9,944 shares of the firm’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $141.23, for a total value of $1,404,391.12. Following the completion of the sale, the chief accounting officer now directly owns 16,687 shares in the company, valued at $2,356,705.01. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, CAO Henry L. Pujol sold 9,944 shares of the firm’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $141.23, for a total value of $1,404,391.12. Following the completion of the sale, the chief accounting officer now directly owns 16,687 shares in the company, valued at $2,356,705.01. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Richard D. Fain sold 19,584 shares of the firm’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $153.96, for a total value of $3,015,152.64. Following the completion of the sale, the director now owns 179,117 shares of the company’s stock, valued at $27,576,853.32. The disclosure for this sale can be found here. Insiders sold a total of 152,884 shares of company stock worth $22,052,985 over the last three months. 7.95% of the stock is owned by 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.