Carnival Co. & plc to Post Q2 2024 Earnings of ($0.03) Per Share, Zacks Research Forecasts (NYSE:CCL)

Carnival Co. & plc (NYSE:CCL) – Zacks Research cut their Q2 2024 earnings per share (EPS) estimates for Carnival Co. & in a research note issued to investors on Wednesday, April 10th. Zacks Research analyst M. Kaushik now forecasts that the company will post earnings of ($0.03) per share for the quarter, down from their previous estimate of $0.02. The consensus estimate for Carnival Co. &’s current full-year earnings is $1.01 per share. Zacks Research also issued estimates for Carnival Co. &’s Q1 2025 earnings at ($0.05) EPS, Q2 2025 earnings at $0.07 EPS and Q1 2026 earnings at $0.41 EPS.

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

Several other research firms also recently commented on CCL. Wells Fargo & Company upgraded Carnival Co. & from an “equal weight” rating to an “overweight” rating and set a $22.00 price objective for the company in a report on Friday, January 5th. JPMorgan Chase & Co. boosted their price objective on Carnival Co. & from $22.00 to $23.00 and gave the company an “overweight” rating in a report on Thursday, March 28th. William Blair restated an “outperform” rating on shares of Carnival Co. & in a report on Tuesday, March 19th. Barclays upped their price target on Carnival Co. & from $24.00 to $25.00 and gave the stock an “overweight” rating in a report on Thursday, March 28th. Finally, The Goldman Sachs Group started 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. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $21.47.

Carnival Co. & Trading Down 4.1 %

NYSE CCL opened at $14.36 on Monday. The company has a market cap of $16.12 billion, a price-to-earnings ratio of 55.23 and a beta of 2.54. Carnival Co. & has a 52 week low of $8.70 and a 52 week high of $19.74. The business has a 50 day moving average price of $15.77 and a 200-day moving average price of $15.41. The company has a quick ratio of 0.32, a current ratio of 0.36 and a debt-to-equity ratio of 4.27.

Insider Buying and Selling at Carnival Co. &

In other Carnival Co. & news, CFO David Bernstein sold 153,995 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $15.37, for a total value of $2,366,903.15. Following the completion of the transaction, the chief financial officer now owns 181,981 shares in the company, valued at approximately $2,797,047.97. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 11.00% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in CCL. Friedenthal Financial purchased a new position in shares of Carnival Co. & during the 4th quarter valued at $28,000. Pacific Center for Financial Services purchased a new position in shares of Carnival Co. & during the 1st quarter valued at $29,000. Hanseatic Management Services Inc. purchased a new stake in Carnival Co. & during the 3rd quarter worth about $30,000. ICA Group Wealth Management LLC purchased a new stake in Carnival Co. & during the 4th quarter worth about $31,000. Finally, Farther Finance Advisors LLC lifted its holdings in Carnival Co. & by 59.6% during the 2nd quarter. Farther Finance Advisors LLC now owns 1,792 shares of the company’s stock worth $34,000 after purchasing an additional 669 shares in the last quarter. Hedge funds and other institutional investors own 67.19% of the company’s stock.

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.