Carnival (NYSE:CCL) Releases Quarterly Earnings Results

Carnival (NYSE:CCL) released its quarterly earnings results on Tuesday. The company reported $0.35 EPS for the quarter, topping the consensus estimate of $0.23 by $0.12, Zacks reports. Carnival had a return on equity of 26.53% and a net margin of 8.07%.

Carnival Stock Performance

NYSE:CCL traded up $2.06 during trading hours on Tuesday, reaching $26.10. 15,374,628 shares of the stock were exchanged, compared to its average volume of 25,454,607. Carnival has a 52 week low of $13.78 and a 52 week high of $28.72. The company has a quick ratio of 0.21, a current ratio of 0.26 and a debt-to-equity ratio of 2.78. The stock has a market capitalization of $30.45 billion, a P/E ratio of 17.53, a P/E/G ratio of 0.55 and a beta of 2.58. The firm has a 50 day simple moving average of $21.58 and a 200-day simple moving average of $22.79.

Institutional Investors Weigh In On Carnival

Institutional investors and hedge funds have recently made changes to their positions in the company. Great Lakes Advisors LLC acquired a new position in Carnival in the first quarter worth $228,000. Empowered Funds LLC lifted its position in shares of Carnival by 61.6% in the 1st quarter. Empowered Funds LLC now owns 30,437 shares of the company’s stock worth $594,000 after buying an additional 11,601 shares during the last quarter. Woodline Partners LP boosted its holdings in shares of Carnival by 41.9% in the 1st quarter. Woodline Partners LP now owns 88,522 shares of the company’s stock valued at $1,729,000 after buying an additional 26,141 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Carnival by 5.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 112,167 shares of the company’s stock valued at $2,191,000 after buying an additional 5,435 shares during the last quarter. 67.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on CCL shares. Citigroup reissued a “hold” rating on shares of Carnival in a research note on Monday. Wall Street Zen raised shares of Carnival from a “hold” rating to a “buy” rating in a report on Wednesday, May 14th. Loop Capital reiterated a “hold” rating and set a $22.00 target price on shares of Carnival in a research report on Monday. William Blair restated an “outperform” rating on shares of Carnival in a research note on Monday, March 10th. Finally, BNP Paribas began coverage on shares of Carnival in a research report on Thursday, March 27th. They set an “outperform” rating and a $26.00 target price on the stock. Nine equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $26.79.

About Carnival

Carnival Corp. engages in the operation of cruise ships. It operates through the following business segments: North America and Australia (NAA) Cruise, Europe and Asia (EA) Cruise Operations, Cruise Support, and Tour and Others. The North America and Australia (NAA) Cruise segment includes the Carnival Cruise Line, Holland America Line, Princess Cruises, and Seabourn.