Carnival Co. & (NYSE:CCL) Reaches New 12-Month High on Analyst Upgrade

Carnival Co. & plc (NYSE:CCL) shares reached a new 52-week high on Monday after Truist Financial raised their price target on the stock from $20.00 to $29.00. Truist Financial currently has a hold rating on the stock. Carnival Co. & traded as high as $26.52 and last traded at $26.41, with a volume of 3789204 shares. The stock had previously closed at $25.43.

Other equities research analysts also recently issued reports about the stock. Citigroup boosted their price target on shares of Carnival Co. & from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Mizuho upped their target price on shares of Carnival Co. & from $25.00 to $26.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Macquarie upped their price target on shares of Carnival Co. & from $25.00 to $26.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. Bank of America upped their price target on shares of Carnival Co. & from $24.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, November 13th. Finally, Stifel Nicolaus upped their price target on shares of Carnival Co. & from $25.00 to $27.00 and gave the company a “buy” rating in a report on Friday, September 20th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $24.44.

Insider Activity

In other news, Director Sir Jonathon Band sold 17,500 shares of the stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $21.72, for a total value of $380,100.00. Following the transaction, the director now directly owns 65,789 shares of the company’s stock, valued at $1,428,937.08. This represents a 21.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 11.00% of the company’s stock.

Hedge Funds Weigh In On Carnival Co. &

Large investors have recently modified their holdings of the stock. Ashton Thomas Securities LLC bought a new position in shares of Carnival Co. & in the third quarter valued at about $25,000. Family Firm Inc. bought a new position in Carnival Co. & during the second quarter worth about $26,000. Hantz Financial Services Inc. bought a new position in Carnival Co. & during the second quarter worth about $30,000. Assetmark Inc. increased its position in Carnival Co. & by 1,431.5% during the third quarter. Assetmark Inc. now owns 1,654 shares of the company’s stock worth $31,000 after acquiring an additional 1,546 shares during the period. Finally, CVA Family Office LLC increased its position in Carnival Co. & by 163.9% during the third quarter. CVA Family Office LLC now owns 1,940 shares of the company’s stock worth $36,000 after acquiring an additional 1,205 shares during the period. 67.19% of the stock is owned by institutional investors.

Carnival Co. & Trading Up 2.2 %

The firm has a market capitalization of $30.00 billion, a P/E ratio of 23.21 and a beta of 2.66. The business’s 50-day moving average is $21.84 and its 200 day moving average is $18.43. The company has a debt-to-equity ratio of 3.10, a current ratio of 0.30 and a quick ratio of 0.26.

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

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.