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

Royal Caribbean Cruises (NYSE:RCL) updated its second quarter 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 2.650-2.750 for the period, compared to the consensus earnings per share 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 Stock Up 2.3 %

NYSE RCL traded up $3.11 during trading hours on Friday, reaching $140.58. 2,759,776 shares of the company traded hands, compared to its average volume of 2,785,707. The company has a current ratio of 0.19, a quick ratio of 0.16 and a debt-to-equity ratio of 4.03. The company has a 50 day moving average of $130.20 and a two-hundred day moving average of $117.47. Royal Caribbean Cruises has a 12 month low of $59.38 and a 12 month high of $141.70. The stock has a market capitalization of $36.08 billion, a PE ratio of 22.60, a PEG ratio of 0.50 and a beta of 2.52.

Royal Caribbean Cruises (NYSE:RCL) last released its quarterly earnings data on Thursday, April 25th. The company reported $1.77 earnings per share for the quarter, topping analysts’ consensus estimates 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 business had revenue of $3.73 billion for the quarter, compared to analysts’ expectations of $3.69 billion. During the same quarter last year, the company earned ($0.23) EPS. The company’s revenue for the quarter was up 29.2% compared to the same quarter last year. As a group, equities analysts expect that Royal Caribbean Cruises will post 10.06 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on RCL. Macquarie boosted their target price on Royal Caribbean Cruises from $145.00 to $160.00 and gave the stock an outperform rating in a report on Friday, March 15th. 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 research report on Thursday, February 22nd. UBS Group increased their price objective 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. Barclays increased their price objective on Royal Caribbean Cruises from $154.00 to $165.00 and gave the stock an overweight rating in a research note on Friday. Finally, Mizuho increased their target price on Royal Caribbean Cruises from $164.00 to $168.00 and gave the stock a buy rating in a report on Friday. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average target price of $138.76.

Insider Transactions at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, CEO Jason T. Liberty sold 50,000 shares of Royal Caribbean Cruises stock in a transaction 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 transaction, the chief executive officer now directly owns 153,017 shares of the company’s stock, valued at $21,365,763.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Jason T. Liberty sold 50,000 shares of Royal Caribbean Cruises stock in a transaction on Friday, April 26th. The stock was sold at an average price of $139.63, for a total transaction of $6,981,500.00. Following the transaction, the chief executive officer now owns 153,017 shares in the company, valued at approximately $21,365,763.71. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michael W. Bayley sold 11,753 shares of the firm’s stock in a transaction 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 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. Corporate insiders own 8.70% of the company’s stock.

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.