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

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

Royal Caribbean Cruises Trading Up 0.0 %

NYSE:RCL opened at $136.68 on Thursday. The firm has a market cap of $35.08 billion, a P/E ratio of 21.97, a PEG ratio of 0.50 and a beta of 2.52. The company has a current ratio of 0.19, a quick ratio of 0.16 and a debt-to-equity ratio of 4.03. The stock’s 50 day simple moving average is $129.31 and its 200-day simple moving average is $116.96. Royal Caribbean Cruises has a 12-month low of $59.37 and a 12-month high of $141.70.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Stifel Nicolaus upped their price objective on Royal Caribbean Cruises from $170.00 to $174.00 and gave the stock a buy rating in a report on Thursday, February 22nd. Barclays upped their target price on Royal Caribbean Cruises from $150.00 to $154.00 and gave the company an overweight rating in a report on Thursday, April 11th. The Goldman Sachs Group restated a buy rating on shares of Royal Caribbean Cruises in a research report on Monday, April 1st. UBS Group upped their price objective on Royal Caribbean Cruises from $148.00 to $154.00 and gave the company a buy rating in a research report on Friday, February 16th. Finally, Mizuho initiated coverage on Royal Caribbean Cruises in a research report on Wednesday, April 17th. They issued a buy rating and a $164.00 price objective on the stock. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat.com, Royal Caribbean Cruises currently has an average rating of Moderate Buy and a consensus price target of $136.94.

Insiders Place Their Bets

In other Royal Caribbean Cruises news, CEO Michael W. Bayley sold 11,753 shares of Royal Caribbean Cruises stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $116.01, for a total transaction of $1,363,465.53. Following the sale, the chief executive officer now directly owns 166,537 shares in the company, valued at approximately $19,319,957.37. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 8.70% of the stock is owned by company 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.