Keep an eye on Royal Caribbean (RCL).
Trading sideways at the moment, it’s now at the bottom of its channel, where it has bounced a few times already. The company just issued upbeat guidance for 2024.
“2023 was an exceptional year, propelled by unmatched demand for our brands from new and loyal guests,” said CEO Jason Liberty. “With the wind in our sails and record-breaking bookings, 2024 is poised to be another robust year, and we expect to achieve two of our Trifecta goals one year early.”
For 2024, RCL now says it’ll see an adjusted profit of $9.50 to $9.70 per share, an increase of 40% year-over-year and above expectations for of $9.18. In 2023, Royal Caribbean earned a profit of $6.77 per share. For Q1 2024, it also expects to see adjusted EPS of between $1.10 to $1.20 per share, as compared to expectations for 84 cents.
A good number of analysts just raised their price targets on RCL, including Macquarie, Wells Fargo, Bank of America, Citi, and Barclays.
