Carnival Analysts Boost Their Forecasts After Q1 Earnings
Portfolio Pulse from Avi Kapoor
Carnival Corp reported a narrower-than-expected Q1 FY24 loss with sales growth of 22% year-on-year to $5.406 billion, slightly missing analyst estimates. Adjusted loss was 14 cents per share, beating the consensus of 18 cents. Occupancy was at 102%, and the company anticipates an adjusted EBITDA of about $1.05 billion for Q2. Following the earnings announcement, analysts from Macquarie, JP Morgan, and Barclays raised their price targets on Carnival. Carnival shares fell 0.1% in pre-market trading.
March 28, 2024 | 12:11 pm
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POSITIVE IMPACT
Carnival Corp reported a better-than-expected Q1 FY24 loss and analysts raised their price targets. Shares fell slightly in pre-market trading.
The positive earnings report and subsequent analyst upgrades indicate a bullish outlook for Carnival Corp, which could lead to an increase in investor confidence and potentially drive the stock price up in the short term, despite the slight pre-market dip.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
Carnival Corp reported a better-than-expected Q1 FY24 loss and analysts raised their price targets. Shares fell slightly in pre-market trading.
The positive earnings report and subsequent analyst upgrades indicate a bullish outlook for Carnival Corp, which could lead to an increase in investor confidence and potentially drive the stock price up in the short term, despite the slight pre-market dip.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100