Royal Caribbean Cruises (NYSE:RCL) Updates FY24 Earnings Guidance

Royal Caribbean Cruises (NYSE:RCL) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $11.35-$11.45 for the period, compared to the consensus earnings per share estimate of $11.09. Royal Caribbean Cruises also updated its FY 2024 guidance to 11.350-11.450 EPS.

Royal Caribbean Cruises Stock Up 1.0 %

Shares of Royal Caribbean Cruises stock traded up $1.54 during trading hours on Friday, reaching $153.56. 3,412,790 shares of the company’s stock were exchanged, compared to its average volume of 2,522,752. The company has a 50 day moving average of $156.09 and a two-hundred day moving average of $138.63. Royal Caribbean Cruises has a fifty-two week low of $78.35 and a fifty-two week high of $173.37. The company has a current ratio of 0.19, a quick ratio of 0.16 and a debt-to-equity ratio of 3.54. The stock has a market cap of $39.52 billion, a P/E ratio of 19.77, a P/E/G ratio of 0.49 and a beta of 2.62.

Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings data on Thursday, July 25th. The company reported $3.21 EPS for the quarter, topping analysts’ consensus estimates of $2.77 by $0.44. Royal Caribbean Cruises had a net margin of 14.28% and a return on equity of 51.54%. The company had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.05 billion. During the same period in the prior year, the business posted $1.82 EPS. The company’s quarterly revenue was up 16.4% on a year-over-year basis. On average, sell-side analysts forecast that Royal Caribbean Cruises will post 11.15 EPS for the current fiscal year.

Royal Caribbean Cruises Dividend Announcement

The firm also recently disclosed a — dividend, which will be paid on Friday, October 11th. Stockholders of record on Friday, September 20th will be paid a dividend of $0.40 per share. The ex-dividend date is Friday, September 20th.

Wall Street Analyst Weigh In

RCL has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their target price on shares of Royal Caribbean Cruises from $175.00 to $210.00 and gave the company an overweight rating in a research note on Wednesday. UBS Group raised their target price on shares of Royal Caribbean Cruises from $154.00 to $168.00 and gave the company a buy rating in a research note on Tuesday, May 14th. Stifel Nicolaus raised their target price on shares of Royal Caribbean Cruises from $180.00 to $200.00 and gave the company a buy rating in a research note on Friday, July 19th. Wells Fargo & Company raised their target price 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. Finally, Barclays raised their target price on shares of Royal Caribbean Cruises from $185.00 to $195.00 and gave the company an overweight rating in a research note on Friday. 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 company presently has an average rating of Moderate Buy and a consensus target price of $172.25.

Insider Activity at Royal Caribbean Cruises

In related news, CAO Henry L. Pujol sold 9,944 shares of Royal Caribbean Cruises stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $141.23, for a total value 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 $2,356,705.01. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 owns 179,117 shares of the company’s stock, valued at $27,576,853.32. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Henry L. Pujol sold 9,944 shares of the business’s stock in a transaction on Tuesday, April 30th. The stock was sold at an average price of $141.23, for a total transaction of $1,404,391.12. Following the sale, the chief accounting officer now directly owns 16,687 shares in the company, valued at approximately $2,356,705.01. The disclosure for this sale can be found here. Insiders have sold 102,884 shares of company stock valued at $15,071,485 over the last three months. 7.95% of the stock is owned by 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.