Carnival Co. & plc Forecasted to Post FY2024 Earnings of $1.28 Per Share (NYSE:CCL)

Carnival Co. & plc (NYSE:CCL) – Stock analysts at William Blair raised their FY2024 earnings per share estimates for Carnival Co. & in a report released on Monday, September 30th. William Blair analyst S. Zackfia now forecasts that the company will post earnings per share of $1.28 for the year, up from their previous forecast of $1.23. The consensus estimate for Carnival Co. &’s current full-year earnings is $1.21 per share. William Blair also issued estimates for Carnival Co. &’s FY2026 earnings at $1.91 EPS.

Several other equities research analysts also recently weighed in on CCL. Bank of America raised their price objective on Carnival Co. & from $23.00 to $24.00 and gave the company a “buy” rating in a report on Thursday, June 27th. Susquehanna reissued a “positive” rating and set a $22.00 price target on shares of Carnival Co. & in a research note on Wednesday, June 26th. Hsbc Global Res raised Carnival Co. & to a “moderate sell” rating in a research note on Tuesday, September 3rd. Citigroup lifted their target price on shares of Carnival Co. & from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Wednesday, June 26th. Finally, Mizuho upped their price target on shares of Carnival Co. & from $25.00 to $26.00 and gave the company an “outperform” rating in a research report on Tuesday. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Carnival Co. & has a consensus rating of “Moderate Buy” and an average target price of $22.84.

Carnival Co. & Stock Performance

Shares of Carnival Co. & stock opened at $18.02 on Wednesday. The company’s 50 day moving average price is $16.57 and its two-hundred day moving average price is $16.25. The firm has a market capitalization of $20.23 billion, a P/E ratio of 27.72 and a beta of 2.68. Carnival Co. & has a fifty-two week low of $10.84 and a fifty-two week 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.

Carnival Co. & (NYSE:CCL) last posted its quarterly earnings results on Monday, September 30th. The company reported $1.27 earnings per share for the quarter, beating analysts’ consensus estimates of $1.17 by $0.10. The company had revenue of $7.90 billion for the quarter, compared to the consensus estimate of $7.82 billion. Carnival Co. & had a net margin of 3.86% and a return on equity of 15.22%. The firm’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same period last year, the company posted $0.86 EPS.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in CCL. US Bancorp DE lifted its stake in Carnival Co. & by 8.0% in the fourth quarter. US Bancorp DE now owns 37,750 shares of the company’s stock valued at $700,000 after buying an additional 2,804 shares during the period. Advisory Services Network LLC lifted its position in shares of Carnival Co. & by 53.3% during the 4th quarter. Advisory Services Network LLC now owns 15,628 shares of the company’s stock valued at $290,000 after acquiring an additional 5,432 shares during the period. TD Asset Management Inc boosted its stake in Carnival Co. & by 39.7% during the fourth quarter. TD Asset Management Inc now owns 359,023 shares of the company’s stock worth $6,656,000 after acquiring an additional 102,006 shares in the last quarter. NEOS Investment Management LLC grew its holdings in Carnival Co. & by 27.7% in the fourth quarter. NEOS Investment Management LLC now owns 14,270 shares of the company’s stock worth $265,000 after purchasing an additional 3,095 shares during the period. Finally, Rafferty Asset Management LLC increased its stake in Carnival Co. & by 2.9% in the fourth quarter. Rafferty Asset Management LLC now owns 143,674 shares of the company’s stock valued at $2,664,000 after purchasing an additional 4,053 shares in the last quarter. 67.19% of the stock is owned by institutional investors and hedge funds.

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.