Morgan Stanley Forecasts Strong Price Appreciation for Carnival Co. & (NYSE:CCL) Stock

Carnival Co. & (NYSE:CCL) had its target price boosted by Morgan Stanley from $20.00 to $22.00 in a report published on Wednesday,Benzinga reports. The firm currently has an underweight rating on the stock.

Other analysts have also recently issued research reports about the stock. Stifel Nicolaus raised their target price on shares of Carnival Co. & from $32.00 to $34.00 and gave the stock a “buy” rating in a research note on Monday, December 23rd. Citigroup increased their target price on Carnival Co. & from $30.00 to $31.00 and gave the stock a “buy” rating in a research note on Monday, December 23rd. Tigress Financial upped their price objective on Carnival Co. & from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Monday, October 7th. Bank of America raised their price objective on shares of Carnival Co. & from $24.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, November 13th. Finally, Truist Financial upped their target price on shares of Carnival Co. & from $20.00 to $29.00 and gave the stock a “hold” rating in a research report on Monday, December 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Carnival Co. & presently has an average rating of “Moderate Buy” and an average price target of $27.18.

Carnival Co. & Price Performance

Shares of CCL opened at $24.21 on Wednesday. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.26 and a current ratio of 0.30. Carnival Co. & has a fifty-two week low of $13.78 and a fifty-two week high of $27.17. The firm has a 50-day simple moving average of $24.97 and a 200-day simple moving average of $20.30. The company has a market capitalization of $27.94 billion, a price-to-earnings ratio of 21.62 and a beta of 2.64.

Carnival Co. & (NYSE:CCL) last announced its earnings results on Friday, December 20th. The company reported $0.14 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.06. Carnival Co. & had a return on equity of 22.30% and a net margin of 6.39%. The company had revenue of $5.94 billion for the quarter, compared to the consensus estimate of $5.94 billion. During the same period last year, the business posted ($0.07) EPS. The company’s revenue was up 10.0% on a year-over-year basis. On average, equities research analysts anticipate that Carnival Co. & will post 1.33 earnings per share for the current year.

Insider Buying and Selling

In related news, Director Sir Jonathon Band sold 17,500 shares of Carnival Co. & stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $21.72, for a total value of $380,100.00. Following the completion of the sale, the director now owns 65,789 shares in the company, valued at approximately $1,428,937.08. The trade was a 21.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 11.00% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Carnival Co. &

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Ashton Thomas Securities LLC bought a new stake in Carnival Co. & in the third quarter valued at about $25,000. Assetmark Inc. boosted its holdings in Carnival Co. & by 1,431.5% in the third quarter. Assetmark Inc. now owns 1,654 shares of the company’s stock worth $31,000 after purchasing an additional 1,546 shares during the period. CVA Family Office LLC boosted its holdings in shares of Carnival Co. & by 163.9% in the 3rd quarter. CVA Family Office LLC now owns 1,940 shares of the company’s stock valued at $36,000 after buying an additional 1,205 shares during the period. Morse Asset Management Inc bought a new position in Carnival Co. & in the third quarter worth about $46,000. Finally, Avior Wealth Management LLC raised its position in shares of Carnival Co. & by 50.7% during the 3rd quarter. Avior Wealth Management LLC now owns 2,747 shares of the company’s stock worth $51,000 after purchasing an additional 924 shares during the period. Institutional investors own 67.19% of the company’s stock.

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.