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

Carnival Co. & (NYSE:CCL) announced its quarterly earnings data 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 company’s revenue was up 15.2% on a year-over-year basis. During the same period in the prior year, the company earned $0.86 EPS.

Carnival Co. & Stock Performance

Shares of CCL stock opened at $18.49 on Tuesday. The business’s fifty day simple moving average is $16.60 and its 200-day simple moving average is $16.24. The company has a market cap of $20.75 billion, a PE ratio of 28.45 and a beta of 2.68. The company has a current ratio of 0.28, a quick ratio of 0.24 and a debt-to-equity ratio of 3.99. Carnival Co. & has a 12-month low of $10.84 and a 12-month high of $19.74.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Citigroup increased their target price on Carnival Co. & from $18.00 to $22.00 and gave the company a “buy” rating in a report on Wednesday, June 26th. Truist Financial increased their price objective on Carnival Co. & from $17.00 to $20.00 and gave the stock a “hold” rating in a report on Tuesday, July 23rd. Deutsche Bank Aktiengesellschaft increased their price objective on Carnival Co. & from $18.00 to $19.00 and gave the stock a “hold” rating in a report on Wednesday, June 26th. Morgan Stanley increased their price objective on Carnival Co. & from $15.00 to $16.50 and gave the stock an “underweight” rating in a report on Tuesday. Finally, Bank of America increased their price objective on Carnival Co. & from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. One research analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Carnival Co. & has an average rating of “Moderate Buy” and an average target price of $22.72.

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.