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

Royal Caribbean Cruises (NYSE:RCL) updated its second quarter 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 2.650-2.750 for the period, compared to the consensus 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

Several research analysts recently commented on the stock. Stifel Nicolaus increased their target price on shares of Royal Caribbean Cruises from $170.00 to $174.00 and gave the stock a buy rating in a report on Thursday, February 22nd. Wells Fargo & Company increased their target price on shares of Royal Caribbean Cruises from $153.00 to $159.00 and gave the stock an overweight rating in a report on Friday. Mizuho increased their target price on shares of Royal Caribbean Cruises from $164.00 to $168.00 and gave the stock a buy rating in a report on Friday. The Goldman Sachs Group restated a buy rating on shares of Royal Caribbean Cruises in a report on Monday, April 1st. Finally, Morgan Stanley increased their target price on shares of Royal Caribbean Cruises from $100.00 to $115.00 and gave the stock an equal weight rating in a report on Wednesday, February 7th. Two research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus price target of $138.76.

Royal Caribbean Cruises Stock Performance

Shares of RCL traded up $3.12 during trading hours 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 firm has a market cap of $36.09 billion, a price-to-earnings ratio of 18.12, a PEG ratio of 0.46 and a beta of 2.52. The business has a fifty day moving average of $130.20 and a 200-day moving average of $117.47. Royal Caribbean Cruises has a 12 month low of $59.38 and a 12 month high of $141.70. The company has a quick ratio of 0.16, a current ratio of 0.19 and a debt-to-equity ratio of 3.54.

Royal Caribbean Cruises (NYSE:RCL) last issued its quarterly earnings data 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. Royal Caribbean Cruises had a net margin of 14.28% and a return on equity of 51.54%. The company had revenue of $3.73 billion for the quarter, compared to analyst estimates of $3.69 billion. During the same period in the prior year, the firm earned ($0.23) earnings per share. The company’s revenue was up 29.2% on a year-over-year basis. Equities analysts anticipate that Royal Caribbean Cruises will post 10.8 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Jason T. Liberty sold 50,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now directly owns 153,017 shares of the company’s stock, valued at $21,365,763.71. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Royal Caribbean Cruises news, CEO Michael W. Bayley sold 11,753 shares of the firm’s stock in a transaction dated 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 approximately $19,319,957.37. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Jason T. Liberty sold 50,000 shares of the firm’s stock in a transaction dated 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. 8.70% of the stock is owned by insiders.

Royal Caribbean Cruises Company Profile

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.