Carnival Co. & (NYSE:CCL) Issues Quarterly Earnings Results, Beats Expectations By $0.04 EPS

Carnival Co. & (NYSE:CCL) issued its quarterly earnings data on Wednesday. The company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.04, Briefing.com reports. The firm 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 company’s revenue for the quarter was up 22.0% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.55) EPS.

Carnival Co. & Stock Performance

NYSE:CCL opened at $16.34 on Friday. The company has a market capitalization of $18.29 billion, a PE ratio of 62.85 and a beta of 2.54. Carnival Co. & has a fifty-two week low of $8.70 and a fifty-two week high of $19.74. The company has a debt-to-equity ratio of 4.27, a quick ratio of 0.41 and a current ratio of 0.36. The company has a 50 day simple moving average of $16.04 and a two-hundred day simple moving average of $15.34.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Mizuho started coverage on shares of Carnival Co. & in a research note on Tuesday. They issued a “buy” rating and a $21.00 price objective for the company. Barclays boosted their price target on Carnival Co. & from $24.00 to $25.00 and gave the company an “overweight” rating in a research note on Thursday. Wells Fargo & Company upgraded Carnival Co. & from an “equal weight” rating to an “overweight” rating and set a $22.00 target price for the company in a research report on Friday, January 5th. Macquarie raised their target price on shares of Carnival Co. & from $22.00 to $24.00 and gave the company an “outperform” rating in a report on Thursday. Finally, Susquehanna cut their price target on shares of Carnival Co. & from $23.00 to $22.00 and set a “positive” rating for the company in a report on Monday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seventeen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $21.42.

Insider Transactions at Carnival Co. &

In related news, CFO David Bernstein sold 34,020 shares of Carnival Co. & stock in a transaction on Friday, January 19th. The shares were sold at an average price of $17.05, for a total transaction of $580,041.00. Following the completion of the transaction, the chief financial officer now owns 335,976 shares of the company’s stock, valued at $5,728,390.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 11.00% of the company’s stock.

Institutional Investors Weigh In On Carnival Co. &

A number of hedge funds have recently added to or reduced their stakes in CCL. Vanguard Group Inc. increased its stake in Carnival Co. & by 0.5% in the fourth quarter. Vanguard Group Inc. now owns 113,163,718 shares of the company’s stock valued at $2,098,055,000 after purchasing an additional 559,038 shares in the last quarter. Geode Capital Management LLC raised its stake in Carnival Co. & by 2.3% during the 1st quarter. Geode Capital Management LLC now owns 20,504,071 shares of the company’s stock worth $207,642,000 after buying an additional 469,764 shares during the period. Two Sigma Advisers LP boosted its holdings in Carnival Co. & by 27.6% in the first quarter. Two Sigma Advisers LP now owns 11,197,800 shares of the company’s stock worth $113,658,000 after acquiring an additional 2,423,700 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in Carnival Co. & by 8.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 9,279,978 shares of the company’s stock valued at $74,797,000 after acquiring an additional 736,456 shares during the period. Finally, Nuveen Asset Management LLC raised its position in shares of Carnival Co. & by 177.5% during the second quarter. Nuveen Asset Management LLC now owns 8,132,897 shares of the company’s stock worth $153,142,000 after purchasing an additional 5,201,843 shares during the period. 67.19% of the stock is currently owned by 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.