Royal Caribbean Cruises (NYSE:RCL) Issues FY 2024 Earnings Guidance

Royal Caribbean Cruises (NYSE:RCL) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 11.570-11.620 for the period, compared to the consensus earnings per share estimate of 11.580. The company issued revenue guidance of -. Royal Caribbean Cruises also updated its FY24 guidance to $11.57-11.62 EPS.

Royal Caribbean Cruises Stock Performance

NYSE:RCL traded up $8.94 during trading hours on Tuesday, reaching $212.46. The company had a trading volume of 2,393,265 shares, compared to its average volume of 2,389,480. The company has a debt-to-equity ratio of 3.20, a current ratio of 0.19 and a quick ratio of 0.17. Royal Caribbean Cruises has a 1-year low of $83.25 and a 1-year high of $214.12. The business’s 50 day moving average price is $177.25 and its 200-day moving average price is $159.77. The firm has a market cap of $54.68 billion, a PE ratio of 22.20, a price-to-earnings-growth ratio of 0.58 and a beta of 2.61.

Wall Street Analyst Weigh In

A number of research firms have weighed in on RCL. Tigress Financial lifted their price objective on shares of Royal Caribbean Cruises from $155.00 to $210.00 and gave the company a “buy” rating in a report on Friday, August 2nd. Morgan Stanley boosted their price objective on Royal Caribbean Cruises from $140.00 to $154.00 and gave the company an “equal weight” rating in a research report on Wednesday, August 7th. Macquarie increased their target price on Royal Caribbean Cruises from $165.00 to $189.00 and gave the company an “outperform” rating in a research report on Tuesday, July 30th. Citigroup lifted their price target on shares of Royal Caribbean Cruises from $204.00 to $253.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, UBS Group upped their price objective on shares of Royal Caribbean Cruises from $168.00 to $183.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Royal Caribbean Cruises has an average rating of “Moderate Buy” and an average price target of $197.27.

Insider Activity at Royal Caribbean Cruises

In other news, Director Vagn O. Sorensen sold 5,800 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $158.50, for a total transaction 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Royal Caribbean Cruises news, CFO Naftali Holtz purchased 5,350 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were acquired at an average price of $140.00 per share, with a total value of $749,000.00. Following the purchase, the chief financial officer now directly owns 48,256 shares in the company, valued at approximately $6,755,840. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Vagn O. Sorensen sold 5,800 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $158.50, for a total value of $919,300.00. Following the sale, the director now directly owns 25,837 shares of the company’s stock, valued at $4,095,164.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 7.95% of the company’s stock.

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.