Carnival Co. & (NYSE:CCL) Issues Quarterly Earnings Results

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

Carnival Co. & Price Performance

Shares of CCL opened at $16.34 on Friday. The company has a debt-to-equity ratio of 4.14, a quick ratio of 0.41 and a current ratio of 0.46. The company has a 50 day moving average price of $16.04 and a 200-day moving average price of $15.34. Carnival Co. & has a fifty-two week low of $8.70 and a fifty-two week high of $19.74. The stock has a market capitalization of $18.29 billion, a PE ratio of -136.16 and a beta of 2.54.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Stifel Nicolaus cut their price target on Carnival Co. & from $26.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday. The Goldman Sachs Group began coverage on Carnival Co. & in a research report on Wednesday, March 13th. They set a “buy” rating and a $20.00 target price for the company. William Blair restated an “outperform” rating on shares of Carnival Co. & in a research report on Tuesday, March 19th. Truist Financial lifted their price objective on shares of Carnival Co. & from $15.00 to $18.00 and gave the stock a “hold” rating in a research note on Thursday, January 18th. Finally, Citigroup upped their target price on shares of Carnival Co. & from $19.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, December 20th. One research 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.com, Carnival Co. & currently has an average rating of “Moderate Buy” and an average target price of $21.42.

Insider Activity at Carnival Co. &

In other Carnival Co. & 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 value of $2,366,903.15. Following the transaction, the chief financial officer now owns 181,981 shares in the company, valued at $2,797,047.97. The transaction 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.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in CCL. Koss Olinger Consulting LLC purchased a new stake in shares of Carnival Co. & during the first quarter worth about $113,000. Lombard Odier Asset Management Switzerland SA purchased a new stake in shares of Carnival Co. & during the fourth quarter valued at $112,000. Silverlake Wealth Management LLC purchased a new position in shares of Carnival Co. & in the fourth quarter worth about $112,000. Cornerstone Wealth Management LLC purchased a new position in shares of Carnival Co. & during the 1st quarter valued at about $107,000. Finally, Pensionmark Financial Group LLC purchased a new stake in shares of Carnival Co. & in the first quarter worth about $104,000. 67.19% of the stock is currently owned by hedge funds and other institutional investors.

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.