Carnival Co. & (NYSE:CCL) Releases Quarterly Earnings Results, Misses Estimates By $0.22 EPS

Carnival Co. & (NYSE:CCL) released its earnings results on Thursday. The company reported ($1.75) EPS for the quarter, missing analysts’ consensus estimates of ($1.53) by ($0.22), MarketWatch Earnings reports. Carnival Co. & had a negative return on equity of 38.85% and a negative net margin of 6,471.63%. During the same quarter last year, the firm earned ($2.19) earnings per share.

Shares of Carnival Co. & stock traded up $0.87 during trading hours on Friday, hitting $25.88. 580,417 shares of the company’s stock traded hands, compared to its average volume of 34,725,191. The stock has a 50 day simple moving average of $23.27 and a 200-day simple moving average of $25.77. Carnival Co. & has a twelve month low of $12.11 and a twelve month high of $31.52. The company has a market cap of $25.20 billion, a PE ratio of -2.71 and a beta of 2.31. The company has a quick ratio of 1.13, a current ratio of 1.16 and a debt-to-equity ratio of 1.45.

Several research analysts recently weighed in on CCL shares. HSBC lifted their price target on Carnival Co. & from $14.70 to $18.30 and gave the company a “reduce” rating in a research report on Thursday, August 19th. JPMorgan Chase & Co. raised their price target on shares of Carnival Co. & from $33.00 to $36.00 and gave the stock a “neutral” rating in a report on Thursday, June 17th. Wolfe Research upgraded Carnival Co. & from a “peer perform” rating to an “outperform” rating in a research report on Wednesday, June 16th. Stifel Nicolaus reiterated a “buy” rating and issued a $39.00 price objective on shares of Carnival Co. & in a report on Wednesday. Finally, Citigroup lifted their target price on Carnival Co. & from $30.00 to $34.00 and gave the company a “buy” rating in a research report on Friday, August 6th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $28.89.

In related 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 transaction of $268,575.86. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 13.30% of the stock is currently owned by insiders.

Carnival Co. & Company Profile

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 for Carnival Co. & (NYSE:CCL)

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