Carnival Co. & (NYSE:CCL) Shares Gap Up Following Earnings Beat

Shares of Carnival Co. & plc (NYSE:CCL) gapped up prior to trading on Friday following a better than expected earnings announcement. 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 changing hands.

The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.06. Carnival Co. & had a net margin of 6.39% and a return on equity of 22.30%. The firm had revenue of $5.94 billion during the quarter, compared to analysts’ expectations of $5.94 billion. During the same period last year, the business earned ($0.07) earnings per share. Carnival Co. &’s revenue was up 10.0% compared to the same quarter last year.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CCL. Bank of America lifted their price target on shares of Carnival Co. & from $24.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Sanford C. Bernstein initiated coverage on shares of Carnival Co. & in a report on Tuesday, November 26th. They issued a “market perform” rating and a $26.00 target price on the stock. Barclays boosted their price objective on shares of Carnival Co. & from $26.00 to $31.00 and gave the company an “overweight” rating in a research note on Friday, December 13th. Truist Financial boosted their target price on shares of Carnival Co. & from $20.00 to $29.00 and gave the stock a “hold” rating in a research report on Monday, December 2nd. Finally, Macquarie boosted their target price on shares of Carnival Co. & from $25.00 to $26.00 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. 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. According to data from MarketBeat.com, Carnival Co. & has a consensus rating of “Moderate Buy” and an average price target of $26.62.

Insider Activity at Carnival Co. &

In other Carnival Co. & news, Director Sir Jonathon Band sold 17,500 shares of the business’s stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $21.72, for a total value of $380,100.00. Following the transaction, the director now owns 65,789 shares of the company’s stock, valued at approximately $1,428,937.08. The trade was a 21.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 11.00% of the stock is owned by company insiders.

Institutional Investors Weigh In On Carnival Co. &

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Raymond James & Associates raised its position in shares of Carnival Co. & by 6.6% in the second quarter. Raymond James & Associates now owns 483,794 shares of the company’s stock valued at $9,057,000 after purchasing an additional 30,001 shares during the period. Atria Wealth Solutions Inc. raised its holdings in Carnival Co. & by 22.7% during the 2nd quarter. Atria Wealth Solutions Inc. now owns 54,974 shares of the company’s stock worth $1,029,000 after purchasing an additional 10,164 shares during the last quarter. Fifth Third Wealth Advisors LLC bought a new stake in shares of Carnival Co. & in the 2nd quarter valued at $184,000. &PARTNERS increased its stake in shares of Carnival Co. & by 12.2% in the 2nd quarter. &PARTNERS now owns 22,572 shares of the company’s stock valued at $423,000 after acquiring an additional 2,456 shares in the last quarter. Finally, Family Firm Inc. bought a new stake in Carnival Co. & during the 2nd quarter valued at $26,000. Institutional investors own 67.19% of the company’s stock.

Carnival Co. & Stock Up 6.4 %

The company has a current ratio of 0.30, a quick ratio of 0.26 and a debt-to-equity ratio of 3.10. The stock has a market capitalization of $30.93 billion, a PE ratio of 23.93 and a beta of 2.67. The stock’s fifty day simple moving average is $24.03 and its 200-day simple moving average is $19.51.

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.