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

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

A number of analysts have weighed in on the company. The Goldman Sachs Group restated a buy rating on shares of Royal Caribbean Cruises in a research note on Monday, April 1st. Macquarie raised their price target 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 target 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. UBS Group raised their price target on Royal Caribbean Cruises from $148.00 to $154.00 and gave the company a buy rating in a research note on Friday, February 16th. Finally, Stifel Nicolaus raised their price objective on Royal Caribbean Cruises from $170.00 to $174.00 and gave the stock a buy rating in a report on Thursday, February 22nd. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $138.76.

Royal Caribbean Cruises Stock Performance

Shares of NYSE RCL traded up $3.12 during midday trading on Friday, reaching $140.59. 2,759,875 shares of the company were exchanged, compared to its average volume of 2,933,396. The company has a current ratio of 0.19, a quick ratio of 0.16 and a debt-to-equity ratio of 3.54. Royal Caribbean Cruises has a 1 year low of $59.38 and a 1 year high of $141.70. The stock has a fifty day simple moving average of $130.20 and a 200 day simple moving average of $117.47. The stock has a market cap of $36.09 billion, a P/E ratio of 18.12, a PEG ratio of 0.46 and a beta of 2.52.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings results on Thursday, April 25th. The company reported $1.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.44. Royal Caribbean Cruises had a return on equity of 51.54% and a net margin of 14.28%. The firm had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.69 billion. During the same quarter last year, the company posted ($0.23) earnings per share. The business’s revenue was up 29.2% on a year-over-year basis. On average, research analysts forecast that Royal Caribbean Cruises will post 10.8 earnings per share for the current fiscal year.

Insider Buying and Selling at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, CEO Michael W. Bayley sold 11,753 shares of Royal Caribbean Cruises stock in a transaction that occurred on 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 sale, the chief executive officer now owns 166,537 shares of the company’s stock, valued at approximately $19,319,957.37. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Royal Caribbean Cruises news, CEO Jason T. Liberty sold 50,000 shares of Royal Caribbean Cruises stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $139.63, for a total value of $6,981,500.00. Following 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 Royal Caribbean Cruises stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 166,537 shares in the company, valued at approximately $19,319,957.37. The disclosure for this sale can be found here. 8.70% of the stock is 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.