Carnival Co. & plc Forecasted to Earn FY2024 Earnings of $1.28 Per Share (NYSE:CCL)

by · The Markets Daily

Carnival Co. & plc (NYSE:CCL – Free Report) – Equities research analysts at William Blair raised their FY2024 EPS estimates for Carnival Co. & in a research note issued on Monday, September 30th. William Blair analyst S. Zackfia now anticipates that the company will post earnings of $1.28 per share for the year, up from their previous forecast of $1.23. The consensus estimate for Carnival Co. &’s current full-year earnings is $1.21 per share. William Blair also issued estimates for Carnival Co. &’s FY2026 earnings at $1.91 EPS.

Carnival Co. & (NYSE:CCL – Get Free Report) last released its earnings results on Monday, September 30th. The company reported $1.27 EPS for the quarter, topping the consensus estimate of $1.17 by $0.10. Carnival Co. & had a net margin of 3.86% and a return on equity of 15.22%. The firm had revenue of $7.90 billion for the quarter, compared to the consensus estimate of $7.82 billion. During the same quarter in the previous year, the firm earned $0.86 earnings per share. The company’s quarterly revenue was up 15.2% compared to the same quarter last year.

Several other equities analysts also recently commented on CCL. Argus boosted their target price on shares of Carnival Co. & from $20.00 to $25.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Macquarie boosted their price target on shares of Carnival Co. & from $25.00 to $26.00 and gave the stock an “outperform” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Carnival Co. & from $18.00 to $19.00 and gave the stock a “hold” rating in a research report on Wednesday, June 26th. Mizuho boosted their price target on shares of Carnival Co. & from $25.00 to $26.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, Morgan Stanley boosted their price target on shares of Carnival Co. & from $15.00 to $16.50 and gave the stock an “underweight” rating in a research report on Tuesday. One research analyst has rated the stock with a sell rating, two have given a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $22.97.

Get Our Latest Stock Analysis on CCL

Carnival Co. & Price Performance

CCL stock opened at $17.34 on Wednesday. Carnival Co. & has a one year low of $10.84 and a one year high of $19.74. The company’s fifty day moving average price is $16.57 and its 200-day moving average price is $16.27. The company has a debt-to-equity ratio of 3.99, a quick ratio of 0.24 and a current ratio of 0.28. The company has a market capitalization of $19.46 billion, a PE ratio of 26.68 and a beta of 2.69.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in Carnival Co. & in the second quarter worth about $466,838,000. Marshall Wace LLP lifted its stake in Carnival Co. & by 510.5% in the second quarter. Marshall Wace LLP now owns 10,331,092 shares of the company’s stock worth $193,398,000 after acquiring an additional 8,638,865 shares during the period. Renaissance Technologies LLC lifted its stake in Carnival Co. & by 43.6% in the second quarter. Renaissance Technologies LLC now owns 9,585,200 shares of the company’s stock worth $179,435,000 after acquiring an additional 2,911,100 shares during the period. Point72 Asset Management L.P. lifted its stake 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 during the period. Finally, Goldentree Asset Management LP purchased a new stake in Carnival Co. & in the first quarter worth about $31,917,000. 67.19% of the stock is currently owned by institutional investors.

Carnival Co. & Company Profile

(Get Free Report)

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.

Read More