William Blair Analysts Cut Earnings Estimates for Carnival Co. & plc (NYSE:CCL)

Carnival Co. & plc (NYSE:CCL) – Equities research analysts at William Blair lowered their FY2021 earnings estimates for Carnival Co. & in a report released on Monday, September 20th. William Blair analyst S. Zackfia now expects that the company will post earnings per share of ($6.31) for the year, down from their previous estimate of ($6.29). William Blair also issued estimates for Carnival Co. &’s Q4 2021 earnings at ($0.19) EPS and FY2022 earnings at ($0.18) EPS.

Carnival Co. & (NYSE:CCL) last announced its quarterly earnings data on Monday, June 28th. The company reported ($1.80) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.61) by ($0.19). The business had revenue of $50.00 million during the quarter, compared to analyst estimates of $128.88 million. Carnival Co. & had a negative net margin of 6,471.63% and a negative return on equity of 38.85%.

A number of other research analysts also recently issued reports on the company. JPMorgan Chase & Co. boosted their price objective on Carnival Co. & from $33.00 to $36.00 and gave the company a “neutral” rating in a research note on Thursday, June 17th. Wolfe Research raised Carnival Co. & from a “peer perform” rating to an “outperform” rating in a research note on Wednesday, June 16th. Stifel Nicolaus upped their price target on Carnival Co. & from $37.00 to $39.00 and gave the stock a “buy” rating in a research note on Friday, June 25th. HSBC upped their price target on Carnival Co. & from $14.70 to $18.30 and gave the stock a “reduce” rating in a research note on Thursday, August 19th. Finally, Berenberg Bank raised Carnival Co. & from a “sell” rating to a “hold” rating in a research note on Wednesday, July 14th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $29.19.

Shares of NYSE:CCL opened at $24.69 on Wednesday. The company has a market capitalization of $24.04 billion, a price-to-earnings ratio of -2.54 and a beta of 2.31. The company has a debt-to-equity ratio of 1.45, a current ratio of 1.16 and a quick ratio of 1.13. The business’s 50-day moving average is $22.85 and its 200-day moving average is $25.83. Carnival Co. & has a 1 year low of $12.11 and a 1 year high of $31.52.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Activest Wealth Management bought a new position in Carnival Co. & during the second quarter valued at $176,000. Virtu Financial LLC bought a new position in Carnival Co. & during the second quarter valued at $1,251,000. J Arnold Wealth Management Co grew its holdings in Carnival Co. & by 1.1% during the second quarter. J Arnold Wealth Management Co now owns 47,957 shares of the company’s stock valued at $1,264,000 after purchasing an additional 502 shares during the period. Parametric Portfolio Associates LLC grew its holdings in Carnival Co. & by 48.1% during the second quarter. Parametric Portfolio Associates LLC now owns 5,456,759 shares of the company’s stock valued at $143,840,000 after purchasing an additional 1,771,122 shares during the period. Finally, Morgan Stanley grew its holdings in Carnival Co. & by 36.7% during the second quarter. Morgan Stanley now owns 5,653,289 shares of the company’s stock valued at $149,021,000 after purchasing an additional 1,518,820 shares during the period. 52.60% of the stock is owned by institutional investors and hedge funds.

In other news, CFO David Bernstein sold 11,662 shares of the company’s stock in a transaction that occurred on Wednesday, July 14th. The stock was sold at an average price of $23.03, for a total value of $268,575.86. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 13.30% of the company’s stock.

About Carnival Co. &

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 Carnival Cruise Line, Holland America Line, Princess Cruises, and Seabourn.

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Earnings History and Estimates for Carnival Co. & (NYSE:CCL)

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