Carnival Co. & (NYSE:CCL) Shares Up 0.3% Following Analyst Upgrade

Carnival Co. & plc (NYSE:CCL)’s share price shot up 0.3% during trading on Thursday after Bank of America raised their price target on the stock from $23.00 to $24.00. Bank of America currently has a buy rating on the stock. Carnival Co. & traded as high as $18.66 and last traded at $18.43. 13,132,753 shares were traded during mid-day trading, a decline of 58% from the average session volume of 31,260,223 shares. The stock had previously closed at $18.37.

Other research analysts have also recently issued research reports about the company. Mizuho began coverage on Carnival Co. & in a research report on Tuesday, March 26th. They set a “buy” rating and a $21.00 price objective on the stock. Stifel Nicolaus dropped their price objective on shares of Carnival Co. & from $26.00 to $25.00 and set a “buy” rating for the company in a research note on Thursday, March 28th. Susquehanna reissued a “positive” rating and issued a $22.00 price objective on shares of Carnival Co. & in a report on Wednesday. Truist Financial lowered their target price on shares of Carnival Co. & from $18.00 to $17.00 and set a “hold” rating on the stock in a report on Wednesday, May 29th. Finally, Macquarie boosted their price target on Carnival Co. & from $22.00 to $24.00 and gave the company an “outperform” rating in a research note on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $22.00.

Institutional Investors Weigh In On Carnival Co. &

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Carnival Co. & by 0.5% during the fourth quarter. Vanguard Group Inc. now owns 113,163,718 shares of the company’s stock worth $2,098,055,000 after buying an additional 559,038 shares in the last quarter. Dimensional Fund Advisors LP raised its position in Carnival Co. & by 19.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 5,123,585 shares of the company’s stock valued at $95,001,000 after purchasing an additional 844,014 shares during the last quarter. Commonwealth Equity Services LLC raised its position in Carnival Co. & by 16.1% in the fourth quarter. Commonwealth Equity Services LLC now owns 4,697,626 shares of the company’s stock valued at $87,094,000 after purchasing an additional 652,798 shares during the last quarter. Earnest Partners LLC grew its holdings in shares of Carnival Co. & by 12.5% during the first quarter. Earnest Partners LLC now owns 4,567,402 shares of the company’s stock worth $74,631,000 after purchasing an additional 507,045 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its holdings in shares of Carnival Co. & by 210.1% during the fourth quarter. Point72 Asset Management L.P. now owns 3,894,286 shares of the company’s stock worth $72,200,000 after purchasing an additional 2,638,564 shares during the last quarter. 67.19% of the stock is owned by institutional investors.

Carnival Co. & Price Performance

The company has a 50 day moving average price of $15.64 and a 200-day moving average price of $16.14. The company has a quick ratio of 0.32, a current ratio of 0.28 and a debt-to-equity ratio of 3.99. The company has a market cap of $21.01 billion, a price-to-earnings ratio of 28.80 and a beta of 2.57.

Carnival Co. & (NYSE:CCL) last issued its quarterly earnings results on Tuesday, June 25th. The company reported $0.11 EPS for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.12. The company had revenue of $5.78 billion for the quarter, compared to analyst estimates of $5.68 billion. Carnival Co. & had a net margin of 3.86% and a return on equity of 15.22%. Carnival Co. &’s revenue was up 17.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.31) earnings per share. As a group, equities research analysts predict that Carnival Co. & plc will post 1.19 EPS for the current fiscal year.

About Carnival Co. &

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.