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

Royal Caribbean Cruises (NYSE:RCL) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $11.57-11.62 for the period, compared to the consensus estimate of $11.58. Royal Caribbean Cruises also updated its FY 2024 guidance to 11.570-11.620 EPS.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. Mizuho increased their price objective on shares of Royal Caribbean Cruises from $168.00 to $195.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Citigroup upped their price target on shares of Royal Caribbean Cruises from $253.00 to $257.00 and gave the company a “buy” rating in a research note on Wednesday. The Goldman Sachs Group increased their price objective on shares of Royal Caribbean Cruises from $220.00 to $245.00 and gave the stock a “buy” rating in a research note on Wednesday. Wells Fargo & Company raised their price target on shares of Royal Caribbean Cruises from $180.00 to $232.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. raised their price target on shares of Royal Caribbean Cruises from $213.00 to $243.00 and gave the company an “overweight” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, Royal Caribbean Cruises has a consensus rating of “Moderate Buy” and a consensus price target of $214.00.

Royal Caribbean Cruises Stock Performance

NYSE:RCL traded down $0.68 on Friday, hitting $205.67. The stock had a trading volume of 430,936 shares, compared to its average volume of 2,393,033. The stock has a market cap of $55.30 billion, a price-to-earnings ratio of 21.21, a price-to-earnings-growth ratio of 0.61 and a beta of 2.61. The company has a quick ratio of 0.17, a current ratio of 0.19 and a debt-to-equity ratio of 2.63. The business’s 50-day simple moving average is $180.26 and its two-hundred day simple moving average is $161.00. Royal Caribbean Cruises has a 52-week low of $86.75 and a 52-week high of $214.12.

Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $5.20 EPS for the quarter, topping the consensus estimate of $5.05 by $0.15. The firm had revenue of $4.89 billion for the quarter, compared to the consensus estimate of $4.89 billion. Royal Caribbean Cruises had a return on equity of 52.92% and a net margin of 16.21%. The business’s revenue for the quarter was up 17.5% compared to the same quarter last year. During the same quarter last year, the company earned $3.85 earnings per share. As a group, research analysts predict that Royal Caribbean Cruises will post 11.6 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Laura H. Bethge sold 3,073 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $168.71, for a total value of $518,445.83. Following the completion of the transaction, the insider now directly owns 27,388 shares of the company’s stock, valued at $4,620,629.48. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Laura H. Bethge sold 3,073 shares of the company’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $168.71, for a total transaction of $518,445.83. Following the completion of the sale, the insider now owns 27,388 shares in the company, valued at $4,620,629.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Vagn O. Sorensen sold 5,800 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $158.50, for a total value of $919,300.00. Following the completion of the transaction, the director now owns 25,837 shares of the company’s stock, valued at $4,095,164.50. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 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.