Royal Caribbean Cruises (NYSE:RCL – Get Free Report) 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 – Get Free Report) 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
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.
Get Our Latest Stock Analysis on Royal Caribbean Cruises
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.
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