Carnival Co. & (NYSE:CCL) Hits New 1-Year High – Time to Buy?

Carnival Co. & plc (NYSE:CCL)’s share price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $25.61 and last traded at $25.48, with a volume of 2226180 shares trading hands. The stock had previously closed at $25.19.

Wall Street Analyst Weigh In

A number of research analysts recently commented on CCL shares. Hsbc Global Res upgraded shares of Carnival Co. & to a “moderate sell” rating in a research note on Tuesday, September 3rd. Stifel Nicolaus raised their price objective on shares of Carnival Co. & from $25.00 to $27.00 and gave the company a “buy” rating in a research report on Friday, September 20th. Barclays raised their target price on shares of Carnival Co. & from $25.00 to $26.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. Citigroup upped their price target on Carnival Co. & from $25.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Morgan Stanley lifted their target price on Carnival Co. & from $15.00 to $16.50 and gave the stock an “underweight” rating in a report on Tuesday, October 1st. One analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, Carnival Co. & has a consensus rating of “Moderate Buy” and an average price target of $23.91.

Carnival Co. & Price Performance

The company’s 50-day simple moving average is $21.58 and its 200 day simple moving average is $18.25. The company has a market capitalization of $29.03 billion, a P/E ratio of 22.46 and a beta of 2.66. The company has a quick ratio of 0.26, a current ratio of 0.30 and a debt-to-equity ratio of 3.10.

Carnival Co. & (NYSE:CCL) last announced its quarterly earnings results on Monday, September 30th. The company reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates of $1.17 by $0.10. The company had revenue of $7.90 billion during the quarter, compared to analysts’ expectations of $7.82 billion. Carnival Co. & had a return on equity of 22.30% and a net margin of 6.39%. The business’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.86 earnings per share. As a group, sell-side analysts expect that Carnival Co. & plc will post 1.33 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Carnival Co. & news, Director Sir Jonathon Band sold 17,500 shares of the business’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $21.72, for a total transaction of $380,100.00. Following the completion of the transaction, the director now owns 65,789 shares of the company’s stock, valued at $1,428,937.08. The trade was a 21.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 11.00% of the stock is owned by insiders.

Hedge Funds Weigh In On Carnival Co. &

Institutional investors have recently made changes to their positions in the business. Encompass Wealth Advisors LLC lifted its holdings in shares of Carnival Co. & by 2.9% during the third quarter. Encompass Wealth Advisors LLC now owns 16,079 shares of the company’s stock worth $297,000 after buying an additional 451 shares during the last quarter. Metis Global Partners LLC boosted its holdings in Carnival Co. & by 2.0% in the 3rd quarter. Metis Global Partners LLC now owns 32,393 shares of the company’s stock valued at $599,000 after purchasing an additional 621 shares during the period. Continuum Advisory LLC lifted its stake in shares of Carnival Co. & by 22.1% in the second quarter. Continuum Advisory LLC now owns 3,480 shares of the company’s stock valued at $65,000 after buying an additional 630 shares during the period. PFG Investments LLC raised its holdings in Carnival Co. & by 2.8% in the 3rd quarter. PFG Investments LLC now owns 23,659 shares of the company’s stock valued at $437,000 after acquiring an additional 641 shares in the last quarter. Finally, Synovus Financial Corp lifted its position in shares of Carnival Co. & by 5.5% in the 3rd quarter. Synovus Financial Corp now owns 13,456 shares of the company’s stock worth $249,000 after acquiring an additional 700 shares during the period. 67.19% of the stock is currently owned by institutional investors.

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.