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

Carnival Co. & (NYSE:CCL) released its quarterly earnings data on Wednesday. The company reported ($0.14) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.18) by $0.04, Briefing.com reports. The business had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.42 billion. Carnival Co. & had a return on equity of 7.75% and a net margin of 1.79%. The business’s quarterly revenue was up 22.0% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.55) EPS.

Carnival Co. & Stock Down 4.9 %

CCL opened at $16.34 on Friday. The company has a debt-to-equity ratio of 4.27, a current ratio of 0.36 and a quick ratio of 0.41. Carnival Co. & has a 12 month low of $8.70 and a 12 month high of $19.74. The stock has a market capitalization of $18.29 billion, a P/E ratio of 62.85 and a beta of 2.54. The business has a 50 day simple moving average of $16.04 and a 200-day simple moving average of $15.34.

Insider Buying and Selling

In other Carnival Co. & news, CFO David Bernstein sold 153,995 shares of the business’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $15.37, for a total transaction of $2,366,903.15. Following 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. 11.00% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Carnival Co. &

Several hedge funds and other institutional investors have recently bought and sold shares of CCL. Vanguard Group Inc. grew its holdings in Carnival Co. & by 19.5% in the third quarter. Vanguard Group Inc. now owns 109,251,208 shares of the company’s stock valued at $768,036,000 after purchasing an additional 17,815,226 shares during the last quarter. Nuveen Asset Management LLC raised its position 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 during the last quarter. Two Sigma Advisers LP lifted its holdings in shares of Carnival Co. & by 27.6% in the first quarter. Two Sigma Advisers LP now owns 11,197,800 shares of the company’s stock valued at $113,658,000 after purchasing an additional 2,423,700 shares in the last quarter. National Pension Service acquired a new stake in shares of Carnival Co. & in the second quarter valued at approximately $29,234,000. Finally, Norges Bank purchased a new position in shares of Carnival Co. & during the 4th quarter worth approximately $10,689,000. 67.19% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Mizuho initiated coverage on shares of Carnival Co. & in a research report on Tuesday. They set a “buy” rating and a $21.00 price objective for the company. William Blair restated an “outperform” rating on shares of Carnival Co. & in a research note on Tuesday, March 19th. Macquarie lifted their target price on Carnival Co. & from $22.00 to $24.00 and gave the stock an “outperform” rating in a research report on Thursday. Truist Financial raised their price target on Carnival Co. & from $15.00 to $18.00 and gave the stock a “hold” rating in a research note on Thursday, January 18th. Finally, Wells Fargo & Company upgraded shares of 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 given a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, Carnival Co. & currently has an average rating of “Moderate Buy” and a consensus price target 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.