Carnival Co. & plc (NYSE:CCL – Get Free Report) shares gapped up before the market opened on Friday after the company announced better than expected quarterly earnings. The stock had previously closed at $25.18, but opened at $25.78. Carnival Co. & shares last traded at $26.08, with a volume of 9,045,210 shares.
The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.06. Carnival Co. & had a return on equity of 22.30% and a net margin of 6.39%. The business had revenue of $5.94 billion during the quarter, compared to analyst estimates of $5.94 billion. During the same quarter in the previous year, the firm posted ($0.07) EPS. The business’s revenue for the quarter was up 10.0% compared to the same quarter last year.
Analyst Upgrades and Downgrades
Several brokerages recently weighed in on CCL. Bank of America lifted their price objective on shares of Carnival Co. & from $24.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Citigroup boosted their price objective on Carnival Co. & from $28.00 to $30.00 and gave the stock a “buy” rating in a research report on Wednesday, December 11th. 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, October 1st. Truist Financial lifted their target price on Carnival Co. & from $20.00 to $29.00 and gave the company a “hold” rating in a research note on Monday, December 2nd. Finally, Sanford C. Bernstein began coverage on Carnival Co. & in a research note on Tuesday, November 26th. They issued a “market perform” rating and a $26.00 price target for the company. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $26.62.
Insider Transactions at Carnival Co. &
In related news, Director Sir Jonathon Band sold 17,500 shares of the firm’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $21.72, for a total transaction of $380,100.00. Following the completion of the sale, the director now directly owns 65,789 shares in the company, valued at approximately $1,428,937.08. This trade represents a 21.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 11.00% of the company’s stock.
Institutional Investors Weigh In On Carnival Co. &
A number of institutional investors and hedge funds have recently modified their holdings of the stock. Vaughan Nelson Investment Management L.P. raised its position in shares of Carnival Co. & by 72.3% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 2,870,760 shares of the company’s stock worth $53,052,000 after purchasing an additional 1,204,500 shares during the period. Robeco Institutional Asset Management B.V. acquired a new stake in Carnival Co. & during the 3rd quarter worth about $1,140,000. Commonwealth Equity Services LLC raised its holdings in Carnival Co. & by 1.0% during the 3rd quarter. Commonwealth Equity Services LLC now owns 4,075,201 shares of the company’s stock worth $75,310,000 after buying an additional 39,491 shares during the period. Wedge Capital Management L L P NC lifted its stake in Carnival Co. & by 10.1% during the third quarter. Wedge Capital Management L L P NC now owns 264,728 shares of the company’s stock valued at $4,892,000 after buying an additional 24,198 shares in the last quarter. Finally, Cerity Partners LLC boosted its holdings in shares of Carnival Co. & by 181.7% in the third quarter. Cerity Partners LLC now owns 123,815 shares of the company’s stock worth $2,288,000 after buying an additional 79,857 shares during the period. Institutional investors and hedge funds own 67.19% of the company’s stock.
Carnival Co. & Stock Performance
The company has a quick ratio of 0.26, a current ratio of 0.30 and a debt-to-equity ratio of 3.10. The firm has a market capitalization of $30.93 billion, a PE ratio of 23.93 and a beta of 2.67. The firm’s 50-day moving average price is $24.03 and its two-hundred day moving average price is $19.49.
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.
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