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

Royal Caribbean Cruises (NYSE:RCLGet Free Report) updated its FY24 earnings guidance on Tuesday. The company provided earnings per share (EPS) guidance of $11.57-11.62 for the period, compared to the consensus estimate of $11.58. Royal Caribbean Cruises also updated its FY 2024 guidance to 11.570-11.620 EPS.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Bank of America upped their price objective on shares of Royal Caribbean Cruises from $205.00 to $210.00 and gave the stock a “neutral” rating in a report on Wednesday. Truist Financial increased their price objective on shares of Royal Caribbean Cruises from $175.00 to $204.00 and gave the company a “buy” rating in a report on Thursday, September 26th. UBS Group upped their target price on Royal Caribbean Cruises from $168.00 to $183.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Wells Fargo & Company lifted their price target on Royal Caribbean Cruises from $180.00 to $232.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Citigroup upped their price objective on Royal Caribbean Cruises from $253.00 to $257.00 and gave the company a “buy” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $214.00.

Read Our Latest Stock Report on Royal Caribbean Cruises

Royal Caribbean Cruises Stock Down 1.0 %

NYSE RCL traded down $2.01 during trading on Thursday, reaching $206.35. The company’s stock had a trading volume of 2,432,126 shares, compared to its average volume of 2,402,736. The company has a current ratio of 0.19, a quick ratio of 0.17 and a debt-to-equity ratio of 3.20. The stock has a market capitalization of $53.10 billion, a PE ratio of 22.72, a PEG ratio of 0.58 and a beta of 2.61. Royal Caribbean Cruises has a 1-year low of $83.25 and a 1-year high of $214.12. The business has a 50-day moving average price of $179.29 and a 200-day moving average price of $160.68.

Royal Caribbean Cruises (NYSE:RCLGet Free Report) last released its quarterly earnings data on Tuesday, October 29th. The company reported $5.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.05 by $0.15. The business had revenue of $4.89 billion during the quarter, compared to analyst estimates of $4.89 billion. Royal Caribbean Cruises had a net margin of 16.32% and a return on equity of 52.49%. Royal Caribbean Cruises’s quarterly revenue was up 17.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.85 EPS. On average, research analysts forecast that Royal Caribbean Cruises will post 11.61 earnings per share for the current fiscal year.

Insider Transactions at Royal Caribbean Cruises

In other news, Director Vagn O. Sorensen sold 5,800 shares of Royal Caribbean Cruises stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $158.50, for a total value of $919,300.00. Following the transaction, the director now owns 25,837 shares of the company’s stock, valued at $4,095,164.50. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Royal Caribbean Cruises news, insider Laura H. Bethge sold 3,073 shares of the firm’s stock in a transaction that occurred on Thursday, August 29th. The stock was sold at an average price of $168.71, for a total value of $518,445.83. Following the sale, the insider now owns 27,388 shares of the company’s stock, valued at $4,620,629.48. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Vagn O. Sorensen sold 5,800 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $158.50, for a total value of $919,300.00. Following the transaction, the director now owns 25,837 shares of the company’s stock, valued at approximately $4,095,164.50. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 7.95% of the stock is currently owned by corporate insiders.

About Royal Caribbean Cruises

(Get Free Report)

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.

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Earnings History and Estimates for Royal Caribbean Cruises (NYSE:RCL)

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