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

A number of research firms have weighed in on RCL. Susquehanna raised their price objective on shares of Royal Caribbean Cruises from $150.00 to $160.00 and gave the company a positive rating in a research note on Friday, April 26th. Wells Fargo & Company raised their price objective on shares of Royal Caribbean Cruises from $159.00 to $165.00 and gave the company an overweight rating in a research note on Friday, May 17th. Citigroup raised their price objective on shares of Royal Caribbean Cruises from $165.00 to $204.00 and gave the company a buy rating in a research note on Wednesday, June 26th. Barclays raised their price objective on shares of Royal Caribbean Cruises from $165.00 to $185.00 and gave the company an overweight rating in a research note on Friday, July 12th. Finally, Argus raised their price objective on shares of Royal Caribbean Cruises from $161.00 to $172.00 and gave the company a buy rating in a research note on Wednesday, May 29th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and an average target price of $169.94.

Royal Caribbean Cruises Stock Performance

RCL stock traded down $12.53 during mid-day trading on Thursday, hitting $151.98. The company had a trading volume of 6,497,790 shares, compared to its average volume of 2,516,343. The firm has a market cap of $39.11 billion, a PE ratio of 19.59, a price-to-earnings-growth ratio of 0.51 and a beta of 2.62. The company has a debt-to-equity ratio of 3.54, a quick ratio of 0.16 and a current ratio of 0.19. Royal Caribbean Cruises has a 12 month low of $78.35 and a 12 month high of $173.37. The stock’s fifty day moving average price is $156.09 and its two-hundred day moving average price is $138.63.

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

Insider Transactions at Royal Caribbean Cruises

In other news, Director Richard D. Fain sold 19,584 shares of Royal Caribbean Cruises stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $153.96, for a total value of $3,015,152.64. Following the completion of the transaction, the director now owns 179,117 shares in the company, valued at $27,576,853.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Richard D. Fain sold 19,584 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $153.96, for a total transaction of $3,015,152.64. Following the completion of the transaction, the director now owns 179,117 shares of the company’s stock, valued at $27,576,853.32. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CAO Henry L. Pujol sold 9,944 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $141.23, for a total transaction of $1,404,391.12. Following the transaction, the chief accounting officer now directly owns 16,687 shares of the company’s stock, valued at approximately $2,356,705.01. The disclosure for this sale can be found here. Insiders sold 152,884 shares of company stock worth $22,052,985 over the last quarter. Corporate insiders own 7.95% 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.