Royal Caribbean Cruises (NYSE:RCL – Get Free Report) issued an update on its second quarter 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 2.650-2.750 for the period, compared to the consensus EPS 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 Analyst Weigh In
Several research firms have commented on RCL. Barclays increased their price objective on shares of Royal Caribbean Cruises from $150.00 to $154.00 and gave the company an overweight rating in a report on Thursday, April 11th. UBS Group increased their price objective on shares of Royal Caribbean Cruises from $148.00 to $154.00 and gave the company a buy rating in a report on Friday, February 16th. Wells Fargo & Company increased their price objective on shares of Royal Caribbean Cruises from $151.00 to $153.00 and gave the company an overweight rating in a report on Monday, February 26th. Mizuho began coverage on shares of Royal Caribbean Cruises in a research report on Wednesday, April 17th. They set a buy rating and a $164.00 target price on the stock. Finally, Susquehanna upped their target price on shares of Royal Caribbean Cruises from $120.00 to $150.00 and gave the company a positive rating in a research report on Wednesday, January 31st. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, Royal Caribbean Cruises has a consensus rating of Moderate Buy and an average price target of $136.94.
Read Our Latest Research Report on Royal Caribbean Cruises
Royal Caribbean Cruises Trading Up 1.2 %
Royal Caribbean Cruises (NYSE:RCL – Get Free Report) last issued its earnings results on Thursday, February 1st. The company reported $1.25 EPS for the quarter, topping analysts’ consensus estimates of $1.13 by $0.12. The business had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.36 billion. Royal Caribbean Cruises had a net margin of 12.22% and a return on equity of 45.55%. The company’s quarterly revenue was up 28.0% compared to the same quarter last year. During the same period last year, the company posted ($1.12) earnings per share. On average, analysts anticipate that Royal Caribbean Cruises will post 9.99 earnings per share for the current fiscal year.
Insider Activity
In other Royal Caribbean Cruises news, CEO Michael W. Bayley sold 11,753 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly owns 166,537 shares in the company, valued at $19,319,957.37. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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.
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