Carnival Posts Strong Q3 Earnings, Analysts Suspect ‘Some Conservatism Built Into Q4 Guidance’
Shares of Carnival Corp (NYSE:CCL) tanked in early trading on Tuesday, even after the company reported upbeat third-quarter earnings.
The Miami-based company reported its results amid an exciting earnings season. Here are some key analyst takeaways.
- Truist Securities analyst Patrick Scholes reiterated a Hold rating and price target of $20.
- Morgan Stanley analyst Jamie Rollo maintained an Underweight rating, while raising the price target from $15.00 to $16.50.
- Stifel analyst Steven M. Wieczynski reaffirmed a Buy rating and price target of $27.
- JPMorgan Chase analyst Matthew Boss reiterated an Overweight rating on the stock.
Check out other analyst stock ratings.
Truist Securities: Carnival reported strong quarterly results, with adjusted earnings of $1.27 per share surpassing consensus of $1.17, with the beat being driven by better-than-expected costs, Scholes said in a note. Ticket revenues missed consensus projections by a small margin, he added.
“Looking at 4Q guide, Yields (revenues) look slightly lower than Street expectations and operating costs look slightly higher,” the analyst wrote. The fourth quarter is unlikely to …
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