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

Carnival Co. & (NYSE:CCL) posted its quarterly earnings results on Wednesday. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.04, Briefing.com reports. The company had revenue of $5.41 billion during 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%. Carnival Co. &’s revenue for the quarter was up 22.0% compared to the same quarter last year. During the same period last year, the firm posted ($0.55) EPS.

Carnival Co. & Stock Down 4.9 %

Shares of Carnival Co. & stock traded down $0.85 during trading on Friday, hitting $16.34. 60,284,333 shares of the stock traded hands, compared to its average volume of 33,767,268. The stock has a market cap of $18.29 billion, a P/E ratio of 62.85 and a beta of 2.54. The company has a debt-to-equity ratio of 4.27, a quick ratio of 0.41 and a current ratio of 0.36. Carnival Co. & has a twelve month low of $8.70 and a twelve month high of $19.74. The company has a fifty day moving average price of $16.04 and a two-hundred day moving average price of $15.34.

Insider Activity

In other news, CFO David Bernstein sold 153,995 shares of Carnival Co. & stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $15.37, for a total transaction 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 sale was disclosed in a filing with the SEC, which can be accessed through this link. 11.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Carnival Co. &

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

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on CCL. Susquehanna lowered their price target on shares of Carnival Co. & from $23.00 to $22.00 and set a “positive” rating on the stock in a research report on Monday. Mizuho started coverage on shares of Carnival Co. & in a report on Tuesday. They issued a “buy” rating and a $21.00 price objective for the company. The Goldman Sachs Group started coverage on shares of Carnival Co. & in a report on Wednesday, March 13th. They issued a “buy” rating and a $20.00 price objective for the company. Barclays lifted their price target on shares of Carnival Co. & from $24.00 to $25.00 and gave the stock an “overweight” rating in a research note on Thursday. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on shares of Carnival Co. & from $14.00 to $18.00 and gave the stock a “hold” rating in a research note on Friday, December 22nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seventeen have issued a buy rating to the stock. Based on data from MarketBeat, Carnival Co. & currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.42.

About Carnival Co. &

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.