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

Royal Caribbean Cruises (NYSE:RCL) updated its FY24 earnings guidance on Thursday. The company provided EPS guidance of $10.70 to $10.90 for the period, compared to the consensus EPS estimate of $10.00. Royal Caribbean Cruises also updated its FY 2024 guidance to 10.700-10.900 EPS.

Analyst Ratings Changes

A number of research firms recently commented on RCL. Morgan Stanley lifted their price target on Royal Caribbean Cruises from $100.00 to $115.00 and gave the stock an equal weight rating in a report on Wednesday, February 7th. UBS Group boosted their price objective on Royal Caribbean Cruises from $148.00 to $154.00 and gave the stock a buy rating in a report on Friday, February 16th. The Goldman Sachs Group restated a buy rating on shares of Royal Caribbean Cruises in a report on Monday, April 1st. Macquarie boosted their price objective on Royal Caribbean Cruises from $145.00 to $160.00 and gave the stock an outperform rating in a report on Friday, March 15th. Finally, Barclays boosted their price objective on Royal Caribbean Cruises from $150.00 to $154.00 and gave the stock an overweight rating in a report on Thursday, April 11th. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $136.94.

Royal Caribbean Cruises Stock Performance

Shares of Royal Caribbean Cruises stock opened at $136.68 on Thursday. The company has a quick ratio of 0.16, a current ratio of 0.19 and a debt-to-equity ratio of 4.03. The stock has a market cap of $35.08 billion, a price-to-earnings ratio of 21.97, a P/E/G ratio of 0.50 and a beta of 2.52. The company’s fifty day moving average is $129.31 and its 200 day moving average is $116.96. Royal Caribbean Cruises has a twelve month low of $59.37 and a twelve month high of $141.70.

Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings results on Thursday, February 1st. The company reported $1.25 EPS for the quarter, beating analysts’ consensus estimates of $1.13 by $0.12. The business had revenue of $3.33 billion for the quarter, compared to analysts’ expectations of $3.36 billion. Royal Caribbean Cruises had a net margin of 12.22% and a return on equity of 45.55%. The business’s quarterly revenue was up 28.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($1.12) earnings per share. Sell-side analysts forecast that Royal Caribbean Cruises will post 9.99 EPS for the current year.

Insider Buying and Selling at Royal Caribbean Cruises

In other news, CEO Michael W. Bayley sold 11,753 shares of the stock in a transaction dated Tuesday, February 13th. The shares were sold at an average price of $116.01, for a total transaction of $1,363,465.53. Following the transaction, the chief executive officer now owns 166,537 shares of the company’s stock, valued at approximately $19,319,957.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 8.70% 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.