Carnival Co. & (NYSE:CCL) Announces Earnings Results

Carnival Co. & (NYSE:CCL) announced its quarterly earnings results on Wednesday. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.04, Briefing.com reports. The firm had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.42 billion. Carnival Co. & had a net margin of 1.79% and a return on equity of 7.75%. The business’s revenue for the quarter was up 22.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.55) EPS.

Carnival Co. & Trading Down 4.9 %

Shares of CCL stock opened at $16.34 on Friday. Carnival Co. & has a 12-month low of $8.70 and a 12-month high of $19.74. The firm has a 50 day moving average price of $16.04 and a two-hundred day moving average price of $15.34. The company has a quick ratio of 0.41, a current ratio of 0.36 and a debt-to-equity ratio of 4.27. The company has a market capitalization of $18.29 billion, a PE ratio of 62.85 and a beta of 2.54.

Insider Transactions at Carnival Co. &

In related news, CFO David Bernstein sold 153,995 shares of the business’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $15.37, for a total value of $2,366,903.15. Following the completion of the sale, the chief financial officer now directly owns 181,981 shares in the company, valued at approximately $2,797,047.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 11.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Carnival Co. &

Large investors have recently added to or reduced their stakes in the stock. Pacific Center for Financial Services bought a new position in shares of Carnival Co. & in the first quarter worth $29,000. Federated Hermes Inc. acquired a new stake in shares of Carnival Co. & in the 3rd quarter valued at $43,000. LM Advisors LLC bought a new stake in shares of Carnival Co. & during the 4th quarter worth $45,000. VitalStone Financial LLC raised its stake in Carnival Co. & by 1,337.1% during the first quarter. VitalStone Financial LLC now owns 3,018 shares of the company’s stock worth $62,000 after acquiring an additional 2,808 shares in the last quarter. Finally, Meiji Yasuda Asset Management Co Ltd. acquired a new stake in shares of Carnival Co. & in the 3rd quarter valued at approximately $75,000. Institutional investors and hedge funds own 67.19% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. William Blair reaffirmed an “outperform” rating on shares of Carnival Co. & in a report on Tuesday, March 19th. Susquehanna lowered their target price on Carnival Co. & from $23.00 to $22.00 and set a “positive” rating for the company in a research note on Monday. Barclays upped their target price on shares of Carnival Co. & from $24.00 to $25.00 and gave the company an “overweight” rating in a research report on Thursday. Truist Financial lifted their price objective on Carnival Co. & from $15.00 to $18.00 and gave the company a “hold” rating in a report on Thursday, January 18th. Finally, Wells Fargo & Company raised Carnival Co. & from an “equal weight” rating to an “overweight” rating and set a $22.00 price target for the company in a research report on Friday, January 5th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seventeen have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $21.42.

Carnival Co. & Company Profile

Carnival Corporation & plc engages in the provision of leisure travel services in North America, Australia, Europe, Asia, and internationally. The company operates through four segments: NAA Cruise Operations, Europe Cruise Operations, Cruise Support, and Tour and Other. It operates port destinations, private islands, and a solar park, as well as owns and operates hotels, lodges, glass-domed railcars, and motor coaches.