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

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

Carnival Co. & Price Performance

Shares of NYSE CCL opened at $18.49 on Tuesday. The company has a debt-to-equity ratio of 3.99, a quick ratio of 0.24 and a current ratio of 0.28. Carnival Co. & has a fifty-two week low of $10.84 and a fifty-two week high of $19.74. The company has a market cap of $20.75 billion, a PE ratio of 28.45 and a beta of 2.68. The business has a 50-day simple moving average of $16.60 and a two-hundred day simple moving average of $16.24.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Mizuho raised their price target on Carnival Co. & from $22.00 to $25.00 and gave the company an “outperform” rating in a research note on Thursday, September 19th. JPMorgan Chase & Co. raised their price target on Carnival Co. & from $23.00 to $25.00 and gave the company an “overweight” rating in a research note on Wednesday, July 24th. 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 research report on Thursday, June 27th. Truist Financial raised their price objective on Carnival Co. & from $17.00 to $20.00 and gave the company a “hold” rating in a research report on Tuesday, July 23rd. Finally, Susquehanna reaffirmed a “positive” rating and set a $22.00 price objective on shares of Carnival Co. & in a research report on Wednesday, June 26th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $22.63.

Carnival Co. & Company Profile

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.