Royal Caribbean Cruises (NYSE:RCL) Issues Q2 Earnings Guidance

Royal Caribbean Cruises (NYSE:RCL) issued an update on its second quarter earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $2.65 to $2.75 for the period, compared to the consensus estimate of $2.37. Royal Caribbean Cruises also updated its FY 2024 guidance to 10.700-10.900 EPS.

Royal Caribbean Cruises Stock Performance

Shares of NYSE RCL traded up $3.12 during mid-day trading on Friday, hitting $140.59. The company had a trading volume of 2,759,875 shares, compared to its average volume of 2,933,396. The company has a debt-to-equity ratio of 3.54, a current ratio of 0.19 and a quick ratio of 0.16. The business’s 50-day simple moving average is $130.20 and its 200-day simple moving average is $117.47. Royal Caribbean Cruises has a 12 month low of $59.38 and a 12 month high of $141.70. The firm has a market cap of $36.09 billion, a P/E ratio of 18.12, a PEG ratio of 0.46 and a beta of 2.52.

Royal Caribbean Cruises (NYSE:RCL) last released its earnings results on Thursday, April 25th. The company reported $1.77 earnings per share for the quarter, beating the consensus estimate of $1.33 by $0.44. The business had revenue of $3.73 billion during the quarter, compared to analysts’ expectations of $3.69 billion. Royal Caribbean Cruises had a net margin of 14.28% and a return on equity of 51.54%. The firm’s revenue was up 29.2% on a year-over-year basis. During the same quarter last year, the company earned ($0.23) earnings per share. As a group, analysts predict that Royal Caribbean Cruises will post 10.8 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on RCL. Stifel Nicolaus raised their price target on shares of Royal Caribbean Cruises from $170.00 to $174.00 and gave the company a buy rating in a report on Thursday, February 22nd. Morgan Stanley boosted their price objective on shares of Royal Caribbean Cruises from $100.00 to $115.00 and gave the company an equal weight rating in a research report on Wednesday, February 7th. Susquehanna boosted their price target on shares of Royal Caribbean Cruises from $150.00 to $160.00 and gave the stock a positive rating in a research report on Friday. 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 note on Friday. Finally, Mizuho boosted their price objective on shares of Royal Caribbean Cruises from $164.00 to $168.00 and gave the stock a buy rating in a research note on Friday. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $138.76.

Insider Activity

In other news, CEO Jason T. Liberty sold 50,000 shares of the stock in a transaction on Friday, April 26th. The shares were sold at an average price of $139.63, for a total transaction of $6,981,500.00. Following the completion of the sale, the chief executive officer now directly owns 153,017 shares in the company, valued at $21,365,763.71. The transaction was disclosed in a filing with the SEC, which is available at this link. In other Royal Caribbean Cruises news, CEO Michael W. Bayley sold 11,753 shares of the firm’s stock in a transaction on Tuesday, February 13th. The shares were 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, 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 transaction of $6,981,500.00. Following the completion of the transaction, the chief executive officer now directly owns 153,017 shares in the company, valued at $21,365,763.71. The disclosure for this sale can be found here. 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.