Carnival Co. & (NYSE:CCL) Posts Earnings Results, Beats Estimates By $0.10 EPS

Carnival Co. & (NYSE:CCL) announced its earnings results on Monday. The company reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates of $1.17 by $0.10, Briefing.com reports. Carnival Co. & had a return on equity of 15.22% and a net margin of 3.86%. The business had revenue of $7.90 billion for the quarter, compared to analyst estimates of $7.82 billion. During the same period in the prior year, the company earned $0.86 EPS. The company’s quarterly revenue was up 15.2% compared to the same quarter last year.

Carnival Co. & Trading Down 1.4 %

Shares of CCL traded down $0.25 during mid-day trading on Wednesday, hitting $17.77. 9,280,639 shares of the company’s stock traded hands, compared to its average volume of 29,965,258. The firm has a market capitalization of $19.95 billion, a P/E ratio of 27.72 and a beta of 2.69. The business’s 50-day moving average price is $16.57 and its 200-day moving average price is $16.25. Carnival Co. & has a 1 year low of $10.84 and a 1 year high of $19.74. The company has a quick ratio of 0.24, a current ratio of 0.28 and a debt-to-equity ratio of 3.99.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on CCL shares. JPMorgan Chase & Co. increased their price target on shares of Carnival Co. & from $23.00 to $25.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Barclays raised their price target on Carnival Co. & from $25.00 to $26.00 and gave the company an “overweight” rating in a research report on Tuesday. Stifel Nicolaus upped their price objective on Carnival Co. & from $25.00 to $27.00 and gave the stock a “buy” rating in a report on Friday, September 20th. Truist Financial raised their price objective on Carnival Co. & from $17.00 to $20.00 and gave the company a “hold” rating in a report on Tuesday, July 23rd. Finally, Hsbc Global Res raised Carnival Co. & to a “moderate sell” rating in a research note on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $22.84.

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.