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

Royal Caribbean Cruises (NYSE:RCL) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 11.570-11.620 for the period, compared to the consensus earnings per share estimate of 11.580. The company issued revenue guidance of -. Royal Caribbean Cruises also updated its FY24 guidance to $11.57-11.62 EPS.

Analysts Set New Price Targets

A number of equities analysts have weighed in on RCL shares. UBS Group lifted their price objective on Royal Caribbean Cruises from $168.00 to $183.00 and gave the company a “buy” rating in a research note on Wednesday, July 31st. The Goldman Sachs Group boosted their price objective on Royal Caribbean Cruises from $170.00 to $195.00 and gave the stock a “buy” rating in a research note on Wednesday, July 17th. 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. Stifel Nicolaus boosted their target price on Royal Caribbean Cruises from $200.00 to $230.00 and gave the stock a “buy” rating in a report on Friday, October 11th. Finally, Bank of America increased their price objective on shares of Royal Caribbean Cruises from $205.00 to $210.00 and gave the stock a “neutral” rating in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $201.80.

Royal Caribbean Cruises Stock Performance

Shares of NYSE:RCL traded down $0.26 during trading hours on Wednesday, hitting $209.84. The stock had a trading volume of 1,714,523 shares, compared to its average volume of 2,394,307. The stock’s fifty day simple moving average is $178.28 and its 200 day simple moving average is $160.35. Royal Caribbean Cruises has a 1-year low of $83.25 and a 1-year high of $214.12. The firm has a market capitalization of $54.00 billion, a price-to-earnings ratio of 22.85, a PEG ratio of 0.58 and a beta of 2.61. The company has a debt-to-equity ratio of 3.20, a quick ratio of 0.17 and a current ratio of 0.19.

Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings data on Tuesday, October 29th. The company reported $5.20 earnings per share (EPS) for the quarter, beating the consensus estimate 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 business’s revenue was up 17.5% on a year-over-year basis. During the same period last year, the firm posted $3.85 earnings per share. Sell-side analysts anticipate that Royal Caribbean Cruises will post 11.61 earnings per share for the current fiscal year.

Insider Buying and Selling

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