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

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

Carnival Co. & Price Performance

Carnival Co. & stock traded down $0.45 during mid-day 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 one year low of $10.84 and a one year high of $19.74. The company has a current ratio of 0.28, a quick ratio of 0.24 and a debt-to-equity ratio of 3.99. The firm has a market capitalization of $19.72 billion, a P/E ratio of 27.72 and a beta of 2.69. The firm’s 50 day moving average is $16.57 and its 200 day moving average is $16.25.

Analyst Ratings Changes

A number of brokerages have recently issued reports on CCL. Deutsche Bank Aktiengesellschaft raised their price objective on Carnival Co. & from $18.00 to $19.00 and gave the company a “hold” rating in a research note on Wednesday, June 26th. Susquehanna reaffirmed a “positive” rating and issued a $22.00 price target on shares of Carnival Co. & in a research note on Wednesday, June 26th. Mizuho raised their target price on shares of Carnival Co. & from $25.00 to $26.00 and gave the stock an “outperform” rating in a report on Tuesday. Stifel Nicolaus upped their price target on shares of Carnival Co. & from $25.00 to $27.00 and gave the company a “buy” rating in a report on Friday, September 20th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Carnival Co. & from $23.00 to $25.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $22.84.

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.