Carnival Co. & (NYSE:CCL) Releases Earnings Results, Beats Estimates By $0.04 EPS

Carnival Co. & (NYSE:CCL) issued its quarterly earnings results on Wednesday. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.04, Briefing.com reports. Carnival Co. & had a negative net margin of 0.34% and a positive return on equity of 0.02%. The firm had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.42 billion. During the same period in the prior year, the firm earned ($0.55) EPS. The business’s revenue was up 22.0% on a year-over-year basis.

Carnival Co. & Stock Down 4.9 %

Shares of Carnival Co. & stock opened at $16.34 on Friday. The company has a market capitalization of $18.29 billion, a P/E ratio of -136.16 and a beta of 2.54. The company has a debt-to-equity ratio of 4.14, a current ratio of 0.46 and a quick ratio of 0.41. The business has a 50-day moving average of $16.04 and a two-hundred day moving average of $15.34. Carnival Co. & has a 1 year low of $8.70 and a 1 year high of $19.74.

Analysts Set New Price Targets

Several research firms recently commented on CCL. Stifel Nicolaus cut their target price on Carnival Co. & from $26.00 to $25.00 and set a “buy” rating for the company in a research report on Thursday. Truist Financial raised their price target on shares of Carnival Co. & from $15.00 to $18.00 and gave the company a “hold” rating in a report on Thursday, January 18th. The Goldman Sachs Group initiated coverage on Carnival Co. & in a report on Wednesday, March 13th. They set a “buy” rating and a $20.00 price objective on the stock. Deutsche Bank Aktiengesellschaft lifted their target price on Carnival Co. & from $14.00 to $18.00 and gave the company a “hold” rating in a research note on Friday, December 22nd. Finally, Mizuho initiated coverage on Carnival Co. & in a research note on Tuesday. They set a “buy” rating and a $21.00 price target on the stock. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $21.42.

Insider Activity

In related news, CFO David Bernstein sold 153,995 shares of the stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $2,797,047.97. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 11.00% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Carnival Co. &

A number of large investors have recently added to or reduced their stakes in CCL. Vanguard Group Inc. raised its position in Carnival Co. & by 19.5% in the 3rd quarter. Vanguard Group Inc. now owns 109,251,208 shares of the company’s stock valued at $768,036,000 after buying an additional 17,815,226 shares during the last quarter. Nuveen Asset Management LLC raised its holdings in Carnival Co. & by 177.5% during the second quarter. Nuveen Asset Management LLC now owns 8,132,897 shares of the company’s stock worth $153,142,000 after acquiring an additional 5,201,843 shares in the last quarter. Two Sigma Advisers LP increased its position in shares of Carnival Co. & by 27.6% during the 1st quarter. Two Sigma Advisers LP now owns 11,197,800 shares of the company’s stock worth $113,658,000 after purchasing an additional 2,423,700 shares during the last quarter. National Pension Service bought a new stake in Carnival Co. & in the second quarter valued at approximately $29,234,000. Finally, Norges Bank acquired a new stake in shares of Carnival Co. & in the fourth quarter valued at approximately $10,689,000. Institutional investors own 67.19% of the company’s stock.

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.