Carnival Co. & plc Expected to Post FY2024 Earnings of $0.98 Per Share (NYSE:CCL)

Carnival Co. & plc (NYSE:CCL - Free Report) - Stock analysts at William Blair lifted their FY2024 earnings estimates for Carnival Co. & in a research report issued on Monday, April 22nd. William Blair analyst S. Zackfia now forecasts that the company will post earnings of $0.98 per share for the year, up from their prior estimate of $0.97. William Blair has a "Outperform" rating on the stock. The consensus estimate for Carnival Co. &'s current full-year earnings is $1.01 per share. William Blair also issued estimates for Carnival Co. &'s Q4 2024 earnings at $0.04 EPS and FY2026 earnings at $1.86 EPS.

Carnival Co. & (NYSE:CCL - Get Free Report) last issued its quarterly earnings data on Wednesday, March 27th. The company reported ($0.14) earnings per share for the quarter, topping analysts' consensus estimates of ($0.18) by $0.04. The business had revenue of $5.41 billion during the quarter, compared to analysts' expectations of $5.42 billion. Carnival Co. & had a net margin of 1.79% and a return on equity of 7.75%. Carnival Co. &'s revenue for the quarter was up 22.0% on a year-over-year basis. During the same period in the previous year, the company earned ($0.55) earnings per share.

Several other brokerages also recently issued reports on CCL. Barclays upped their price target on shares of Carnival Co. & from $24.00 to $25.00 and gave the stock an "overweight" rating in a research report on Thursday, March 28th. Mizuho began coverage on shares of Carnival Co. & in a research note on Tuesday, March 26th. They set a "buy" rating and a $21.00 price target for the company. Tigress Financial raised their target price on shares of Carnival Co. & from $23.00 to $25.00 and gave the company a "buy" rating in a research note on Wednesday, April 3rd. The Goldman Sachs Group initiated coverage on Carnival Co. & in a report on Wednesday, March 13th. They set a "buy" rating and a $20.00 price target for the company. Finally, Truist Financial lifted their target price on Carnival Co. & from $15.00 to $18.00 and gave the stock a "hold" rating in a report on Thursday, January 18th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $21.47.

Carnival Co. & Price Performance

Shares of CCL traded up $0.22 during trading hours on Wednesday, hitting $15.01. The stock had a trading volume of 24,494,464 shares, compared to its average volume of 31,890,498. The company's fifty day moving average is $15.58 and its two-hundred day moving average is $15.44. 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. & has a 52 week low of $8.70 and a 52 week high of $19.74. The stock has a market capitalization of $16.85 billion, a price-to-earnings ratio of 57.73 and a beta of 2.54.

Institutional Investors Weigh In On Carnival Co. &

Several hedge funds have recently added to or reduced their stakes in CCL. Point72 Asset Management L.P. boosted its holdings in Carnival Co. & by 210.1% in the fourth quarter. Point72 Asset Management L.P. now owns 3,894,286 shares of the company's stock worth $72,200,000 after acquiring an additional 2,638,564 shares in the last quarter. Norges Bank bought a new position in shares of Carnival Co. & during the fourth quarter valued at $40,236,000. Deutsche Bank AG lifted its holdings in shares of Carnival Co. & by 117.5% during the third quarter. Deutsche Bank AG now owns 3,498,569 shares of the company's stock valued at $48,000,000 after purchasing an additional 1,890,081 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of Carnival Co. & by 1,589.4% during the fourth quarter. International Assets Investment Management LLC now owns 1,789,351 shares of the company's stock valued at $331,750,000 after purchasing an additional 1,683,434 shares in the last quarter. Finally, Blackstone Inc. lifted its holdings in shares of Carnival Co. & by 50.8% during the third quarter. Blackstone Inc. now owns 3,000,000 shares of the company's stock valued at $41,160,000 after purchasing an additional 1,010,000 shares in the last quarter. 67.19% of the stock is owned by institutional investors.

Insider Activity

In related news, CFO David Bernstein sold 153,995 shares of Carnival Co. & stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $15.37, for a total transaction of $2,366,903.15. Following the sale, the chief financial officer now directly owns 181,981 shares in the company, valued at $2,797,047.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 11.00% of the company's stock.

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.