Brokerages Expect Carnival Co. & plc (NYSE:CCL) Will Post Quarterly Sales of $2.84 Billion

Wall Street brokerages expect Carnival Co. & plc (NYSE:CCL – Get Rating) to announce $2.84 billion in sales for the current quarter, according to Zacks. Six analysts have issued estimates for Carnival Co. &’s earnings, with the lowest sales estimate coming in at $2.29 billion and the highest estimate coming in at $3.27 billion. Carnival Co. & reported sales of $50.00 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 5,580%. The business is expected to report its next earnings report on Monday, January 1st.

According to Zacks, analysts expect that Carnival Co. & will report full-year sales of $15.02 billion for the current fiscal year, with estimates ranging from $13.82 billion to $16.17 billion. For the next fiscal year, analysts forecast that the company will post sales of $22.38 billion, with estimates ranging from $21.00 billion to $23.16 billion. Zacks’ sales averages are an average based on a survey of sell-side research firms that that provide coverage for Carnival Co. &.

Carnival Co. & (NYSE:CCL – Get Rating) last announced its quarterly earnings data on Tuesday, March 22nd. The company reported ($1.65) earnings per share for the quarter, missing the consensus estimate of ($1.23) by ($0.42). The company had revenue of $1.62 billion for the quarter, compared to analyst estimates of $2.26 billion. Carnival Co. & had a negative return on equity of 56.97% and a negative net margin of 268.65%. Carnival Co. &’s revenue was up 6142.3% on a year-over-year basis. During the same period in the prior year, the business earned ($1.79) earnings per share.

Several research analysts have recently commented on CCL shares. Deutsche Bank Aktiengesellschaft decreased their price target on shares of Carnival Co. & from $25.00 to $24.00 and set a “hold” rating for the company in a report on Wednesday, March 23rd. Wells Fargo & Company assumed coverage on shares of Carnival Co. & in a research note on Tuesday, March 29th. They set an “underweight” rating and a $21.00 target price for the company. Stifel Nicolaus reduced their target price on shares of Carnival Co. & from $33.00 to $30.00 and set a “buy” rating for the company in a research note on Wednesday, March 23rd. Truist Financial dropped their price target on shares of Carnival Co. & from $17.00 to $15.00 and set a “hold” rating on the stock in a research report on Thursday, May 19th. Finally, Argus downgraded shares of Carnival Co. & from a “buy” rating to a “hold” rating in a research report on Friday, March 25th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $25.05.

In other news, Director Randall J. Weisenburger acquired 100,000 shares of Carnival Co. & stock in a transaction dated Wednesday, May 25th. The stock was acquired at an average cost of $11.76 per share, for a total transaction of $1,176,000.00. Following the completion of the purchase, the director now owns 870,950 shares of the company’s stock, valued at $10,242,372. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 12.50% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in CCL. Vanguard Group Inc. raised its stake in Carnival Co. & by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 90,114,182 shares of the company’s stock valued at $1,822,109,000 after purchasing an additional 3,122,603 shares during the last quarter. Norges Bank acquired a new position in Carnival Co. & during the 4th quarter valued at $60,673,000. Neuberger Berman Group LLC raised its stake in Carnival Co. & by 40.6% during the 1st quarter. Neuberger Berman Group LLC now owns 7,178,301 shares of the company’s stock valued at $145,060,000 after purchasing an additional 2,073,685 shares during the last quarter. Morgan Stanley raised its stake in Carnival Co. & by 36.1% during the 3rd quarter. Morgan Stanley now owns 7,696,287 shares of the company’s stock valued at $192,485,000 after purchasing an additional 2,042,998 shares during the last quarter. Finally, Candlestick Capital Management LP raised its stake in shares of Carnival Co. & by 26.3% in the 4th quarter. Candlestick Capital Management LP now owns 5,557,058 shares of the company’s stock valued at $111,808,000 after buying an additional 1,157,058 shares in the last quarter. Hedge funds and other institutional investors own 65.38% of the company’s stock.

NYSE CCL opened at $13.88 on Wednesday. Carnival Co. & has a one year low of $11.56 and a one year high of $31.52. The company has a 50-day simple moving average of $16.96 and a 200-day simple moving average of $18.99. The company has a debt-to-equity ratio of 2.90, a quick ratio of 0.70 and a current ratio of 0.74. The firm has a market capitalization of $13.74 billion, a PE ratio of -1.67 and a beta of 2.02.

About Carnival Co. & (Get Rating)

Carnival Corporation & plc operates as a leisure travel company. Its ships visit approximately 700 ports under the Carnival Cruise Line, Princess Cruises, Holland America Line, P&O Cruises (Australia), Seabourn, Costa Cruises, AIDA Cruises, P&O Cruises (UK), and Cunard brand names. The company also provides port destinations and other services, as well as owns and owns and operates hotels, lodges, glass-domed railcars, and motor coaches.

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