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

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

Carnival Co. & Stock Down 2.5 %

CCL traded down $0.45 during trading on Wednesday, hitting $17.57. The stock had a trading volume of 1,230,439 shares, compared to its average volume of 29,922,889. Carnival Co. & has a twelve month low of $10.84 and a twelve month high of $19.74. The stock has a 50 day simple moving average of $16.57 and a two-hundred day simple moving average of $16.25. The company has a debt-to-equity ratio of 3.99, a quick ratio of 0.24 and a current ratio of 0.28. The company has a market capitalization of $19.72 billion, a PE ratio of 27.72 and a beta of 2.69.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on CCL shares. Morgan Stanley increased their target price on shares of Carnival Co. & from $15.00 to $16.50 and gave the company an “underweight” rating in a research note on Tuesday. Bank of America increased their price target on Carnival Co. & from $23.00 to $24.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Mizuho boosted their price objective on Carnival Co. & from $25.00 to $26.00 and gave the company an “outperform” rating in a report on Tuesday. Citigroup increased their target price on Carnival Co. & from $18.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Carnival Co. & from $18.00 to $19.00 and gave the stock a “hold” rating in a report on Wednesday, June 26th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $22.84.

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.