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

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

Royal Caribbean Cruises Price Performance

Shares of Royal Caribbean Cruises stock traded up $0.08 during midday trading on Wednesday, hitting $210.18. 1,895,246 shares of the company were exchanged, compared to its average volume of 2,395,034. The company has a debt-to-equity ratio of 3.20, a current ratio of 0.19 and a quick ratio of 0.17. The firm has a 50 day simple moving average of $178.28 and a 200-day simple moving average of $160.35. Royal Caribbean Cruises has a 52 week low of $83.25 and a 52 week high of $214.12. The firm has a market cap of $54.09 billion, a P/E ratio of 22.96, a PEG ratio of 0.58 and a beta of 2.61.

Royal Caribbean Cruises (NYSE:RCL) last announced its earnings results on Tuesday, October 29th. The company reported $5.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.05 by $0.15. The business had revenue of $4.89 billion during the quarter, compared to analysts’ expectations of $4.89 billion. Royal Caribbean Cruises had a net margin of 16.32% and a return on equity of 52.49%. The firm’s revenue for the quarter was up 17.5% on a year-over-year basis. During the same quarter last year, the company posted $3.85 EPS. Research analysts forecast that Royal Caribbean Cruises will post 11.61 earnings per share for the current year.

Wall Street Analyst Weigh In

RCL has been the topic of several recent analyst reports. JPMorgan Chase & Co. boosted their target price on Royal Caribbean Cruises from $213.00 to $243.00 and gave the stock an “overweight” rating in a report on Tuesday. Citigroup boosted their price objective on Royal Caribbean Cruises from $204.00 to $253.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Mizuho increased their target price on Royal Caribbean Cruises from $168.00 to $195.00 and gave the stock an “outperform” rating in a report on Friday, July 26th. The Goldman Sachs Group increased their price target on shares of Royal Caribbean Cruises from $220.00 to $245.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Tigress Financial boosted their price objective on shares of Royal Caribbean Cruises from $155.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Three analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $205.20.

Insider Buying and Selling at Royal Caribbean Cruises

In related news, insider Laura H. Bethge sold 3,073 shares of Royal Caribbean Cruises stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $168.71, for a total transaction of $518,445.83. Following the transaction, the insider now owns 27,388 shares of the company’s stock, valued at $4,620,629.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Royal Caribbean Cruises news, CFO Naftali Holtz purchased 5,350 shares of the company’s stock in a transaction dated Friday, August 2nd. The shares were bought at an average price of $140.00 per share, with a total value of $749,000.00. Following the completion of the transaction, the chief financial officer now directly owns 48,256 shares in the company, valued at $6,755,840. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Laura H. Bethge sold 3,073 shares of Royal Caribbean Cruises stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $168.71, for a total value of $518,445.83. Following the transaction, the insider now owns 27,388 shares in the company, valued at $4,620,629.48. This trade represents 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.