Carnival Co. & (NYSE:CCL) Updates FY24 Earnings Guidance

Carnival Co. & (NYSE:CCL) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $1.18 for the period, compared to the consensus estimate of $1.02. Carnival Co. & also updated its Q3 guidance to $1.15 EPS.

Carnival Co. & Stock Up 2.0 %

CCL opened at $16.39 on Tuesday. The stock has a market capitalization of $18.39 billion, a P/E ratio of 63.06 and a beta of 2.57. The company has a debt-to-equity ratio of 4.27, a quick ratio of 0.32 and a current ratio of 0.36. Carnival Co. & has a one year low of $10.84 and a one year high of $19.74. The business’s 50-day simple moving average is $15.30 and its 200-day simple moving average is $16.10.

Carnival Co. & (NYSE:CCL) last released its quarterly earnings results on Wednesday, March 27th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.18) by $0.04. The company had revenue of $5.41 billion for the quarter, compared to analyst estimates of $5.42 billion. Carnival Co. & had a return on equity of 7.75% and a net margin of 1.79%. The firm’s revenue was up 22.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.55) earnings per share. Analysts anticipate that Carnival Co. & will post 1.01 EPS for the current year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on CCL shares. Mizuho started coverage on shares of Carnival Co. & in a research report on Tuesday, March 26th. They set a buy rating and a $21.00 price objective on the stock. Truist Financial reduced their price objective on Carnival Co. & from $18.00 to $17.00 and set a hold rating for the company in a research note on Wednesday, May 29th. Argus lowered their target price on Carnival Co. & from $23.00 to $20.00 and set a buy rating on the stock in a research note on Monday, April 1st. Tigress Financial upped their price target on Carnival Co. & from $23.00 to $25.00 and gave the stock a buy rating in a research note on Wednesday, April 3rd. Finally, William Blair reiterated an outperform rating on shares of Carnival Co. & in a research report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average target price of $21.61.

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.