Carnival Co. & (NYSE:CCL) Posts Earnings Results, Beats Estimates By $0.04 EPS

Carnival Co. & (NYSE:CCL) issued its earnings results on Wednesday. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.18) by $0.04, Briefing.com reports. Carnival Co. & had a negative net margin of 0.34% and a positive return on equity of 0.02%. The company had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.42 billion. During the same period in the prior year, the business posted ($0.55) earnings per share. The firm’s revenue for the quarter was up 22.0% compared to the same quarter last year.

Carnival Co. & Stock Performance

NYSE:CCL opened at $17.19 on Thursday. The company has a quick ratio of 0.41, a current ratio of 0.46 and a debt-to-equity ratio of 4.14. The company has a market cap of $19.24 billion, a P/E ratio of -143.25 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 firm’s 50 day moving average is $16.03 and its two-hundred day moving average is $15.33.

Insider Transactions at Carnival Co. &

In related news, CFO David Bernstein sold 153,995 shares of the firm’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $15.37, for a total transaction of $2,366,903.15. Following the completion of the sale, the chief financial officer now directly owns 181,981 shares of the company’s stock, valued at approximately $2,797,047.97. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 11.00% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Price T Rowe Associates Inc. MD lifted its position in Carnival Co. & by 0.4% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 1,345,937 shares of the company’s stock valued at $24,955,000 after purchasing an additional 5,470 shares during the last quarter. Public Employees Retirement System of Ohio lifted its position in Carnival Co. & by 2.8% in the 4th quarter. Public Employees Retirement System of Ohio now owns 416,375 shares of the company’s stock valued at $7,720,000 after purchasing an additional 11,376 shares during the last quarter. Mercer Global Advisors Inc. ADV lifted its position in Carnival Co. & by 441.2% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 168,987 shares of the company’s stock valued at $3,133,000 after purchasing an additional 137,765 shares during the last quarter. Legal & General Group Plc lifted its position in Carnival Co. & by 19.2% in the 4th quarter. Legal & General Group Plc now owns 5,945,373 shares of the company’s stock valued at $110,228,000 after purchasing an additional 958,017 shares during the last quarter. Finally, Wexford Capital LP acquired a new position in Carnival Co. & during the 4th quarter valued at about $609,000. 67.19% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on CCL shares. Deutsche Bank Aktiengesellschaft upped their target price on shares of Carnival Co. & from $14.00 to $18.00 and gave the stock a “hold” rating in a research report on Friday, December 22nd. William Blair restated an “outperform” rating on shares of Carnival Co. & in a research report on Tuesday, March 19th. Mizuho started coverage on shares of Carnival Co. & in a research report on Tuesday. They set a “buy” rating and a $21.00 target price on the stock. Truist Financial upped their target price on shares of Carnival Co. & from $15.00 to $18.00 and gave the stock a “hold” rating in a research report on Thursday, January 18th. Finally, Susquehanna lowered their target price on shares of Carnival Co. & from $23.00 to $22.00 and set a “positive” rating on the stock in a research report on Monday. One analyst has rated the stock with a sell rating, three have assigned a hold rating and seventeen have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $21.00.

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.