Carnival Co. & (NYSE:CCL) Releases Quarterly Earnings Results, Beats Expectations By $0.10 EPS

Carnival Co. & (NYSE:CCL) issued its earnings results on Monday. The company reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates of $1.17 by $0.10, Briefing.com reports. Carnival Co. & had a net margin of 3.86% and a return on equity of 15.22%. The firm had revenue of $7.90 billion during the quarter, compared to analyst estimates of $7.82 billion. During the same quarter in the prior year, the business earned $0.86 earnings per share. Carnival Co. &’s revenue for the quarter was up 15.2% on a year-over-year basis.

Carnival Co. & Price Performance

Shares of CCL stock opened at $18.02 on Wednesday. The company has a market capitalization of $20.23 billion, a P/E ratio of 27.72 and a beta of 2.69. The company’s 50-day simple moving average is $16.57 and its two-hundred day simple moving average is $16.25. Carnival Co. & has a one year low of $10.84 and a one year high of $19.74. The company has a debt-to-equity ratio of 3.99, a current ratio of 0.28 and a quick ratio of 0.24.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on CCL shares. Hsbc Global Res upgraded shares of Carnival Co. & to a “moderate sell” rating in a research report on Tuesday, September 3rd. Morgan Stanley increased their price target on shares of Carnival Co. & from $15.00 to $16.50 and gave the company an “underweight” rating in a report on Tuesday. Mizuho upped their price objective on Carnival Co. & from $25.00 to $26.00 and gave the company an “outperform” rating in a research report on Tuesday. Bank of America lifted their target price on Carnival Co. & from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Finally, Stifel Nicolaus increased their price target on Carnival Co. & from $25.00 to $27.00 and gave the company a “buy” rating in a report on Friday, September 20th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $22.84.

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.