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

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Morgan Stanley raised their price target on shares of Royal Caribbean Cruises from $140.00 to $154.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 7th. Citigroup raised their price target on shares of Royal Caribbean Cruises from $204.00 to $253.00 and gave the stock a "buy" rating in a research note on Wednesday, October 9th. Mizuho raised their price target on shares of Royal Caribbean Cruises from $168.00 to $195.00 and gave the stock an "outperform" rating in a research note on Friday, July 26th. JPMorgan Chase & Co. raised their price target on shares of Royal Caribbean Cruises from $213.00 to $243.00 and gave the stock an "overweight" rating in a research note on Tuesday. Finally, Bank of America raised their price target on shares of Royal Caribbean Cruises from $145.00 to $172.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 23rd. Three research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $199.27.

Royal Caribbean Cruises Trading Up 3.3 %

Shares of RCL traded up $6.69 during trading on Tuesday, reaching $210.21. 4,124,566 shares of the company traded hands, compared to its average volume of 2,397,752. Royal Caribbean Cruises has a twelve month low of $83.25 and a twelve month high of $214.12. The stock has a market cap of $54.10 billion, a PE ratio of 22.97, a price-to-earnings-growth ratio of 0.58 and a beta of 2.61. The stock has a 50-day simple moving average of $177.25 and a 200-day simple moving average of $159.77. The company has a quick ratio of 0.17, a current ratio of 0.19 and a debt-to-equity ratio of 3.20.

Insider Buying and Selling at Royal Caribbean Cruises

In other Royal Caribbean Cruises news, insider Laura H. Bethge sold 3,073 shares of Royal Caribbean Cruises stock in a transaction dated Thursday, August 29th. The shares were sold at an average price of $168.71, for a total transaction of $518,445.83. Following the completion of the sale, the insider now directly owns 27,388 shares in the company, valued at $4,620,629.48. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Laura H. Bethge sold 3,073 shares of Royal Caribbean Cruises stock in a transaction that occurred on Thursday, August 29th. The shares were sold at an average price of $168.71, for a total value of $518,445.83. Following the completion of the transaction, the insider now owns 27,388 shares in the company, valued at approximately $4,620,629.48. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, 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 transaction of $919,300.00. Following the completion of 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 position. The disclosure for this sale can be found here. Company 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.