Carnival (NYSE:CCL) Issues Quarterly Earnings Results

Carnival (NYSE:CCL) announced its quarterly earnings data on Tuesday. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.23 by $0.12, Zacks reports. Carnival had a return on equity of 26.53% and a net margin of 8.07%.

Carnival Stock Up 8.6%

Shares of CCL stock opened at $26.11 on Tuesday. The company has a current ratio of 0.26, a quick ratio of 0.21 and a debt-to-equity ratio of 2.78. The stock has a market cap of $30.46 billion, a P/E ratio of 17.57, a P/E/G ratio of 0.55 and a beta of 2.58. Carnival has a 12 month low of $13.78 and a 12 month high of $28.72. The company has a 50 day simple moving average of $21.58 and a two-hundred day simple moving average of $22.79.

Institutional Investors Weigh In On Carnival

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Carnival by 5.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 112,167 shares of the company’s stock worth $2,191,000 after acquiring an additional 5,435 shares in the last quarter. Woodline Partners LP lifted its stake in shares of Carnival by 41.9% during the 1st quarter. Woodline Partners LP now owns 88,522 shares of the company’s stock valued at $1,729,000 after buying an additional 26,141 shares in the last quarter. Empowered Funds LLC lifted its stake in shares of Carnival by 61.6% during the 1st quarter. Empowered Funds LLC now owns 30,437 shares of the company’s stock valued at $594,000 after buying an additional 11,601 shares in the last quarter. Finally, Great Lakes Advisors LLC purchased a new stake in Carnival in the 1st quarter worth $228,000. 67.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Truist Financial set a $27.00 target price on shares of Carnival in a report on Monday. BNP Paribas assumed coverage on Carnival in a research note on Thursday, March 27th. They set an “outperform” rating and a $26.00 price objective for the company. Loop Capital reiterated a “hold” rating and set a $22.00 price objective on shares of Carnival in a research note on Monday. Stifel Nicolaus set a $33.00 price objective on Carnival in a research note on Monday. Finally, Hsbc Global Res raised Carnival from a “moderate sell” rating to a “hold” rating in a research report on Friday, May 16th. Nine analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Carnival has an average rating of “Moderate Buy” and an average target price of $26.79.

Carnival Company Profile

Carnival Corp. engages in the operation of cruise ships. It operates through the following business segments: North America and Australia (NAA) Cruise, Europe and Asia (EA) Cruise Operations, Cruise Support, and Tour and Others. The North America and Australia (NAA) Cruise segment includes the Carnival Cruise Line, Holland America Line, Princess Cruises, and Seabourn.