Carnival Co. & (NYSE:CCL) Announces Quarterly Earnings Results

Carnival Co. & (NYSE:CCL) issued its earnings results on Wednesday. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.04, Briefing.com reports. The firm had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.42 billion. Carnival Co. & had a return on equity of 7.75% and a net margin of 1.79%. The business’s quarterly revenue was up 22.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.55) earnings per share.

Carnival Co. & Price Performance

Shares of Carnival Co. & stock opened at $16.34 on Friday. The business has a 50 day simple moving average of $16.04 and a two-hundred day simple moving average of $15.34. Carnival Co. & has a 12 month low of $8.70 and a 12 month high of $19.74. The stock has a market capitalization of $18.29 billion, a P/E ratio of 62.85 and a beta of 2.54. The company has a debt-to-equity ratio of 4.27, a current ratio of 0.36 and a quick ratio of 0.41.

Insider Buying and Selling at Carnival Co. &

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Lido Advisors LLC raised its stake in Carnival Co. & by 0.4% in the first quarter. Lido Advisors LLC now owns 189,260 shares of the company’s stock valued at $3,826,000 after buying an additional 803 shares in the last quarter. Steward Partners Investment Advisory LLC raised its stake in Carnival Co. & by 3.0% in the first quarter. Steward Partners Investment Advisory LLC now owns 35,228 shares of the company’s stock valued at $358,000 after buying an additional 1,021 shares in the last quarter. Bleakley Financial Group LLC raised its stake in Carnival Co. & by 9.0% in the second quarter. Bleakley Financial Group LLC now owns 13,985 shares of the company’s stock valued at $263,000 after buying an additional 1,149 shares in the last quarter. Peapack Gladstone Financial Corp increased its position in shares of Carnival Co. & by 9.1% during the first quarter. Peapack Gladstone Financial Corp now owns 14,385 shares of the company’s stock worth $146,000 after purchasing an additional 1,200 shares in the last quarter. Finally, Horizon Investments LLC increased its position in shares of Carnival Co. & by 8.6% during the second quarter. Horizon Investments LLC now owns 15,377 shares of the company’s stock worth $290,000 after purchasing an additional 1,222 shares in the last quarter. 67.19% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on CCL shares. Citigroup increased their target price on shares of Carnival Co. & from $19.00 to $23.00 and gave the company a “buy” rating in a research report on Wednesday, December 20th. Macquarie increased their target price on shares of Carnival Co. & from $22.00 to $24.00 and gave the company an “outperform” rating in a research report on Thursday. Susquehanna decreased their target price on shares of Carnival Co. & from $23.00 to $22.00 and set a “positive” rating for the company in a research report on Monday. The Goldman Sachs Group began coverage on shares of Carnival Co. & in a research report on Wednesday, March 13th. They set a “buy” rating and a $20.00 target price for the company. Finally, Stifel Nicolaus cut their price target on Carnival Co. & from $26.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seventeen have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $21.42.

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.