Royal Caribbean Cruises (NYSE:RCL) Updates Q2 2024 Earnings Guidance

Royal Caribbean Cruises (NYSE:RCL) issued an update on its second quarter 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 2.650-2.750 for the period, compared to the consensus earnings per share estimate of 2.370. The company issued revenue guidance of -. Royal Caribbean Cruises also updated its FY 2024 guidance to 10.700-10.900 EPS.

Wall Street Analysts Forecast Growth

RCL has been the topic of several recent analyst reports. Macquarie increased their target price on Royal Caribbean Cruises from $145.00 to $160.00 and gave the company an outperform rating in a report on Friday, March 15th. Morgan Stanley raised their target price on Royal Caribbean Cruises from $100.00 to $115.00 and gave the stock an equal weight rating in a research report on Wednesday, February 7th. Susquehanna upped their price target on Royal Caribbean Cruises from $150.00 to $160.00 and gave the company a positive rating in a report on Friday. Mizuho raised their price objective on shares of Royal Caribbean Cruises from $164.00 to $168.00 and gave the stock a buy rating in a report on Friday. Finally, Barclays boosted their price objective on shares of Royal Caribbean Cruises from $154.00 to $165.00 and gave the stock an overweight rating in a research report on Friday. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $138.76.

Royal Caribbean Cruises Stock Performance

Shares of NYSE:RCL traded up $3.12 on Friday, reaching $140.59. The company’s stock had a trading volume of 2,759,875 shares, compared to its average volume of 2,933,396. Royal Caribbean Cruises has a 52-week low of $59.38 and a 52-week high of $141.70. The stock has a market capitalization of $36.09 billion, a P/E ratio of 18.12, a PEG ratio of 0.47 and a beta of 2.52. The stock’s 50-day moving average is $130.20 and its two-hundred day moving average is $117.67. The company has a debt-to-equity ratio of 3.54, a current ratio of 0.19 and a quick ratio of 0.16.

Royal Caribbean Cruises (NYSE:RCL) last posted its quarterly earnings data on Thursday, April 25th. The company reported $1.77 EPS for the quarter, beating the consensus estimate of $1.33 by $0.44. Royal Caribbean Cruises had a return on equity of 51.54% and a net margin of 14.28%. The firm had revenue of $3.73 billion during the quarter, compared to the consensus estimate of $3.69 billion. During the same period in the prior year, the business earned ($0.23) EPS. The firm’s revenue was up 29.2% compared to the same quarter last year. As a group, sell-side analysts forecast that Royal Caribbean Cruises will post 10.8 EPS for the current year.

Insider Buying and Selling at Royal Caribbean Cruises

In other news, CEO Jason T. Liberty sold 50,000 shares of the firm’s stock in a transaction on Friday, April 26th. The shares were sold at an average price of $139.63, for a total value of $6,981,500.00. Following the completion of the sale, the chief executive officer now owns 153,017 shares in the company, valued at approximately $21,365,763.71. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Royal Caribbean Cruises news, CEO Jason T. Liberty sold 50,000 shares of Royal Caribbean Cruises stock in a transaction that occurred on Friday, April 26th. The stock was sold at an average price of $139.63, for a total value of $6,981,500.00. Following the sale, the chief executive officer now owns 153,017 shares of the company’s stock, valued at approximately $21,365,763.71. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Michael W. Bayley sold 11,753 shares of the stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $116.01, for a total value of $1,363,465.53. Following the transaction, the chief executive officer now directly owns 166,537 shares of the company’s stock, valued at $19,319,957.37. The disclosure for this sale can be found here. 8.70% of the stock is currently owned by corporate insiders.

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.