Carnival Co. & (NYSE:CCL) Updates FY 2024 Earnings Guidance

Carnival Co. & (NYSE:CCL) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share guidance of 1.180-1.180 for the period, compared to the consensus earnings per share estimate of 1.010. The company issued revenue guidance of -. Carnival Co. & also updated its FY24 guidance to $1.18 EPS.

Carnival Co. & Trading Up 1.3 %

Shares of Carnival Co. & stock opened at $18.60 on Friday. Carnival Co. & has a 52-week low of $10.84 and a 52-week high of $19.74. The company has a debt-to-equity ratio of 3.99, a quick ratio of 0.32 and a current ratio of 0.28. The firm has a 50-day moving average of $15.46 and a 200-day moving average of $16.12. The stock has a market cap of $20.88 billion, a PE ratio of 28.62 and a beta of 2.57.

Carnival Co. & (NYSE:CCL) last released its quarterly earnings results on Tuesday, June 25th. The company reported $0.11 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.12. Carnival Co. & had a net margin of 3.86% and a return on equity of 15.22%. The company had revenue of $5.78 billion during the quarter, compared to the consensus estimate of $5.68 billion. During the same period in the previous year, the business earned ($0.31) earnings per share. The firm’s quarterly revenue was up 17.7% on a year-over-year basis. As a group, sell-side analysts forecast that Carnival Co. & will post 1.19 EPS for the current year.

Analyst Ratings Changes

A number of research firms have recently commented on CCL. JPMorgan Chase & Co. boosted their price target on Carnival Co. & from $22.00 to $23.00 and gave the stock an overweight rating in a report on Thursday, March 28th. Wells Fargo & Company increased their price target on Carnival Co. & from $22.00 to $23.00 and gave the company an overweight rating in a research note on Friday, May 17th. Macquarie upped their target price on Carnival Co. & from $22.00 to $24.00 and gave the stock an outperform rating in a report on Thursday, March 28th. Truist Financial cut their price target on Carnival Co. & from $18.00 to $17.00 and set a hold rating on the stock in a research note on Wednesday, May 29th. Finally, Citigroup upped their price objective on Carnival Co. & from $18.00 to $22.00 and gave the company a buy rating in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and a consensus price target of $22.00.

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.