Carnival Co. & (NYSE:CCL) Updates Q3 Earnings Guidance

Carnival Co. & (NYSE:CCL) issued an update on its third quarter earnings guidance on Tuesday morning. The company provided EPS guidance of $1.15 for the period, compared to the consensus EPS estimate of $1.11. Carnival Co. & also updated its FY24 guidance to $1.18 EPS.

Carnival Co. & Stock Performance

Carnival Co. & stock opened at $16.39 on Tuesday. The business has a 50 day moving average of $15.30 and a 200-day moving average of $16.10. The company has a market capitalization of $18.39 billion, a P/E ratio of 63.06 and a beta of 2.57. Carnival Co. & has a 1 year low of $10.84 and a 1 year high of $19.74. The company has a debt-to-equity ratio of 4.27, a current ratio of 0.36 and a quick ratio of 0.32.

Carnival Co. & (NYSE:CCL) last released its quarterly earnings results on Wednesday, March 27th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.18) by $0.04. Carnival Co. & had a net margin of 1.79% and a return on equity of 7.75%. The firm had revenue of $5.41 billion during the quarter, compared to the consensus estimate of $5.42 billion. During the same quarter last year, the firm earned ($0.55) earnings per share. The company’s revenue for the quarter was up 22.0% on a year-over-year basis. On average, equities research analysts predict that Carnival Co. & will post 1.01 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on CCL shares. William Blair reissued an outperform rating on shares of Carnival Co. & in a research note on Monday, April 22nd. Wells Fargo & Company increased their target price on shares of Carnival Co. & from $22.00 to $23.00 and gave the company an overweight rating in a research report on Friday, May 17th. Tigress Financial boosted their price target on shares of Carnival Co. & from $23.00 to $25.00 and gave the stock a buy rating in a research report on Wednesday, April 3rd. Truist Financial lowered their target price on shares of Carnival Co. & from $18.00 to $17.00 and set a hold rating for the company in a research note on Wednesday, May 29th. Finally, Stifel Nicolaus decreased their price target on Carnival Co. & from $26.00 to $25.00 and set a buy rating for the company in a report on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Carnival Co. & has an average rating of Moderate Buy and an average price target 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.