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

Royal Caribbean Cruises (NYSE:RCL) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 11.350-11.450 for the period, compared to the consensus EPS estimate of 11.080. The company issued revenue guidance of -. Royal Caribbean Cruises also updated its FY24 guidance to $11.35-$11.45 EPS.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on RCL. The Goldman Sachs Group lifted their price objective on shares of Royal Caribbean Cruises from $170.00 to $195.00 and gave the company a buy rating in a research note on Wednesday, July 17th. UBS Group increased their price objective on shares of Royal Caribbean Cruises from $154.00 to $168.00 and gave the company a buy rating in a report on Tuesday, May 14th. Mizuho boosted 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, April 26th. Argus increased their price target on Royal Caribbean Cruises from $161.00 to $172.00 and gave the company a buy rating in a research note on Wednesday, May 29th. Finally, Truist Financial lifted their price target on Royal Caribbean Cruises from $151.00 to $175.00 and gave the company a buy rating in a research report on Wednesday, May 29th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus target price of $169.94.

Royal Caribbean Cruises Trading Down 7.6 %

Shares of NYSE RCL traded down $12.53 during mid-day trading on Thursday, hitting $151.98. 6,497,790 shares of the company traded hands, compared to its average volume of 2,516,343. The company has a quick ratio of 0.16, a current ratio of 0.19 and a debt-to-equity ratio of 3.54. Royal Caribbean Cruises has a 1 year low of $78.35 and a 1 year high of $173.37. The stock has a market capitalization of $39.11 billion, a price-to-earnings ratio of 19.59, a PEG ratio of 0.51 and a beta of 2.62. The business has a 50 day moving average of $156.09 and a two-hundred day moving average of $138.63.

Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings data on Thursday, July 25th. The company reported $3.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.77 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 $4.10 billion for the quarter, compared to the consensus estimate of $4.05 billion. During the same quarter in the previous year, the company earned $1.82 EPS. The business’s revenue for the quarter was up 16.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Royal Caribbean Cruises will post 11.14 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Royal Caribbean Cruises news, Director Richard D. Fain sold 19,584 shares of the business’s stock in a transaction 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 sale, the director now directly owns 179,117 shares of the company’s stock, valued at approximately $27,576,853.32. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, Director Richard D. Fain sold 19,584 shares of Royal Caribbean Cruises stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $153.96, for a total transaction of $3,015,152.64. Following the transaction, the director now owns 179,117 shares in the company, valued at $27,576,853.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael W. Bayley sold 49,155 shares of the company’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $147.67, for a total value of $7,258,718.85. Following the transaction, the chief executive officer now directly owns 49,695 shares in the company, valued at $7,338,460.65. The disclosure for this sale can be found here. In the last 90 days, insiders sold 152,884 shares of company stock valued at $22,052,985. Company 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.