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

Carnival Co. & (NYSE:CCL) announced its earnings results on Wednesday. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.04, Briefing.com reports. The company had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.42 billion. Carnival Co. & had a return on equity of 7.75% and a net margin of 1.79%. The firm’s quarterly revenue was up 22.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.55) earnings per share.

Carnival Co. & Price Performance

Shares of CCL traded down $0.85 during mid-day trading on Friday, reaching $16.34. 60,284,333 shares of the company’s stock were exchanged, compared to its average volume of 33,767,268. The company has a quick ratio of 0.41, a current ratio of 0.36 and a debt-to-equity ratio of 4.27. The company has a 50-day simple moving average of $16.04 and a two-hundred day simple moving average of $15.34. Carnival Co. & has a 52-week low of $8.70 and a 52-week high of $19.74. The company has a market cap of $18.29 billion, a price-to-earnings ratio of 62.85 and a beta of 2.54.

Insider Transactions at Carnival Co. &

In related news, CFO David Bernstein sold 153,995 shares of the firm’s stock in a transaction that occurred 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 owns 181,981 shares in the company, valued at $2,797,047.97. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 11.00% of the company’s stock.

Institutional Trading of Carnival Co. &

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of 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 purchasing an additional 17,815,226 shares during the last quarter. Nuveen Asset Management LLC lifted its holdings in shares of Carnival Co. & by 177.5% during the 2nd quarter. Nuveen Asset Management LLC now owns 8,132,897 shares of the company’s stock valued at $153,142,000 after acquiring an additional 5,201,843 shares in the last quarter. Two Sigma Advisers LP lifted its holdings 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 valued at $113,658,000 after acquiring an additional 2,423,700 shares in the last quarter. National Pension Service acquired a new position in shares of Carnival Co. & during the 2nd quarter valued at $29,234,000. Finally, Norges Bank acquired a new position in shares of Carnival Co. & during the 4th quarter valued at $10,689,000. Institutional investors and hedge funds own 67.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on CCL shares. William Blair reissued an “outperform” rating on shares of Carnival Co. & in a report on Tuesday, March 19th. Barclays increased their target price on Carnival Co. & from $24.00 to $25.00 and gave the company an “overweight” rating in a report on Thursday. Citigroup increased their target price on Carnival Co. & from $19.00 to $23.00 and gave the company a “buy” rating in a report on Wednesday, December 20th. Wells Fargo & Company raised Carnival Co. & from an “equal weight” rating to an “overweight” rating and set a $22.00 target price on the stock in a report on Friday, January 5th. Finally, Macquarie upped their price objective on shares of Carnival Co. & from $22.00 to $24.00 and gave the company an “outperform” rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $21.42.

About Carnival Co. &

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.