Carnival Co. & (NYSE:CCL) Shares Gap Up Following Strong Earnings

Carnival Co. & plc (NYSE:CCL) gapped up prior to trading on Friday following a better than expected earnings announcement. The stock had previously closed at $25.18, but opened at $25.78. Carnival Co. & shares last traded at $26.08, with a volume of 9,045,210 shares.

The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.06. Carnival Co. & had a return on equity of 22.30% and a net margin of 6.39%. The firm had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.94 billion. During the same period in the prior year, the business earned ($0.07) EPS. The business’s revenue for the quarter was up 10.0% on a year-over-year basis.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on CCL shares. Mizuho boosted their price objective on shares of Carnival Co. & from $26.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, December 5th. Tigress Financial boosted their price target on shares of Carnival Co. & from $25.00 to $28.00 and gave the company a “buy” rating in a report on Monday, October 7th. Macquarie increased their price objective on Carnival Co. & from $25.00 to $26.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. Hsbc Global Res raised Carnival Co. & to a “moderate sell” rating in a research report on Tuesday, September 3rd. Finally, Truist Financial upped their target price on Carnival Co. & from $20.00 to $29.00 and gave the stock a “hold” rating in a research report on Monday, December 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $26.62.

Insider Buying and Selling at Carnival Co. &

In other Carnival Co. & news, Director Sir Jonathon Band sold 17,500 shares of the company’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $21.72, for a total transaction of $380,100.00. Following the completion of the sale, the director now directly owns 65,789 shares in the company, valued at $1,428,937.08. This represents a 21.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 11.00% of the company’s stock.

Hedge Funds Weigh In On Carnival Co. &

A number of institutional investors have recently made changes to their positions in the business. Envestnet Portfolio Solutions Inc. bought a new position in Carnival Co. & in the 2nd quarter worth approximately $264,000. Raymond James & Associates raised its stake in Carnival Co. & by 6.6% during the 2nd quarter. Raymond James & Associates now owns 483,794 shares of the company’s stock valued at $9,057,000 after purchasing an additional 30,001 shares during the last quarter. Atria Wealth Solutions Inc. raised its stake in Carnival Co. & by 22.7% during the 2nd quarter. Atria Wealth Solutions Inc. now owns 54,974 shares of the company’s stock valued at $1,029,000 after purchasing an additional 10,164 shares during the last quarter. Fifth Third Wealth Advisors LLC bought a new stake in Carnival Co. & in the 2nd quarter valued at $184,000. Finally, &PARTNERS grew its position in Carnival Co. & by 12.2% in the 2nd quarter. &PARTNERS now owns 22,572 shares of the company’s stock worth $423,000 after purchasing an additional 2,456 shares during the last quarter. 67.19% of the stock is currently owned by institutional investors.

Carnival Co. & Stock Performance

The company has a current ratio of 0.30, a quick ratio of 0.26 and a debt-to-equity ratio of 3.10. The firm’s fifty day moving average price is $24.03 and its 200-day moving average price is $19.49. The company has a market cap of $30.93 billion, a P/E ratio of 23.93 and a beta of 2.67.

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.