Royal Caribbean Cruises (NYSE:RCL) Updates 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 guidance of $2.65 to $2.75 for the period, compared to the consensus earnings per share estimate of $2.37. Royal Caribbean Cruises also updated its FY 2024 guidance to 10.700-10.900 EPS.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on RCL. Barclays lifted their price objective on Royal Caribbean Cruises from $154.00 to $165.00 and gave the company an overweight rating in a research note on Friday. Macquarie lifted 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. Mizuho lifted their price objective on Royal Caribbean Cruises from $164.00 to $168.00 and gave the company a buy rating in a research note on Friday. Stifel Nicolaus lifted their price objective on Royal Caribbean Cruises from $170.00 to $174.00 and gave the company a buy rating in a research note on Thursday, February 22nd. Finally, The Goldman Sachs Group reaffirmed a buy rating on shares of Royal Caribbean Cruises in a research note on Monday, April 1st. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of Moderate Buy and a consensus target price of $138.76.

Royal Caribbean Cruises Stock Up 2.3 %

NYSE RCL traded up $3.12 during trading on Friday, reaching $140.59. 2,759,875 shares of the company’s stock were exchanged, compared to its average volume of 2,933,396. The stock has a market cap of $36.09 billion, a P/E ratio of 18.12, a price-to-earnings-growth ratio of 0.46 and a beta of 2.52. The company has a debt-to-equity ratio of 3.54, a quick ratio of 0.16 and a current ratio of 0.19. The company has a 50 day moving average price of $130.20 and a two-hundred day moving average price of $117.47. Royal Caribbean Cruises has a 1 year low of $59.38 and a 1 year high of $141.70.

Royal Caribbean Cruises (NYSE:RCL) last announced 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. The company had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.69 billion. Royal Caribbean Cruises had a return on equity of 51.54% and a net margin of 14.28%. Royal Caribbean Cruises’s revenue for the quarter was up 29.2% on a year-over-year basis. During the same period in the previous year, the business earned ($0.23) EPS. On average, equities research analysts anticipate that Royal Caribbean Cruises will post 10.8 EPS for the current fiscal year.

Insider Activity

In other news, CEO Jason T. Liberty sold 50,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 153,017 shares of the company’s stock, valued at approximately $21,365,763.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CEO Jason T. Liberty sold 50,000 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 153,017 shares of the company’s stock, valued at approximately $21,365,763.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael W. Bayley sold 11,753 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $19,319,957.37. The disclosure for this sale can be found here. Company 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.