Wells Fargo & Company Issues Positive Forecast for Carnival Co. & (NYSE:CCL) Stock Price

Carnival Co. & (NYSE:CCL) had its price objective lifted by equities researchers at Wells Fargo & Company from $25.00 to $30.00 in a research report issued on Monday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Wells Fargo & Company‘s target price would indicate a potential upside of 16.69% from the stock’s previous close.

Other equities research analysts have also recently issued research reports about the stock. Sanford C. Bernstein began coverage on shares of Carnival Co. & in a research report on Tuesday, November 26th. They set a “market perform” rating and a $26.00 target price for the company. Mizuho upped their price target on Carnival Co. & from $26.00 to $32.00 and gave the stock an “outperform” rating in a research report on Thursday, December 5th. The Goldman Sachs Group raised their price objective on Carnival Co. & from $24.00 to $32.00 and gave the stock a “buy” rating in a research report on Tuesday, December 10th. Stifel Nicolaus boosted their target price on Carnival Co. & from $27.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Finally, Morgan Stanley increased their price target on Carnival Co. & from $15.00 to $16.50 and gave the company an “underweight” rating in a research note on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $26.62.

Carnival Co. & Trading Down 0.8 %

Shares of NYSE:CCL opened at $25.71 on Monday. The company has a market capitalization of $29.67 billion, a PE ratio of 22.96 and a beta of 2.67. The company has a current ratio of 0.30, a quick ratio of 0.26 and a debt-to-equity ratio of 3.10. Carnival Co. & has a 12-month low of $13.78 and a 12-month high of $27.17. The business’s fifty day simple moving average is $23.72 and its 200-day simple moving average is $19.34.

Carnival Co. & (NYSE:CCL) last posted its earnings results on Monday, September 30th. The company reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.10. The company had revenue of $7.90 billion for the quarter, compared to analyst estimates of $7.82 billion. Carnival Co. & had a return on equity of 22.30% and a net margin of 6.39%. The firm’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, equities research analysts predict that Carnival Co. & will post 1.33 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Sir Jonathon Band sold 17,500 shares of the business’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $21.72, for a total value 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 sale was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 11.00% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of CCL. Vaughan Nelson Investment Management L.P. grew its stake in shares of Carnival Co. & by 72.3% during the 3rd quarter. Vaughan Nelson Investment Management L.P. now owns 2,870,760 shares of the company’s stock worth $53,052,000 after purchasing an additional 1,204,500 shares during the period. Robeco Institutional Asset Management B.V. purchased a new stake in Carnival Co. & during the third quarter worth $1,140,000. Commonwealth Equity Services LLC grew its position in Carnival Co. & by 1.0% during the third quarter. Commonwealth Equity Services LLC now owns 4,075,201 shares of the company’s stock valued at $75,310,000 after buying an additional 39,491 shares during the period. Wedge Capital Management L L P NC increased its holdings in Carnival Co. & by 10.1% in the third quarter. Wedge Capital Management L L P NC now owns 264,728 shares of the company’s stock valued at $4,892,000 after buying an additional 24,198 shares in the last quarter. Finally, Cerity Partners LLC raised its position in shares of Carnival Co. & by 181.7% in the third quarter. Cerity Partners LLC now owns 123,815 shares of the company’s stock worth $2,288,000 after acquiring an additional 79,857 shares during the period. 67.19% of the stock is currently owned by hedge funds and other institutional investors.

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.