Carnival Co. & (NYSE:CCL) PT Raised to $24.00

Carnival Co. & (NYSE:CCL) had its price target raised by equities researchers at Macquarie from $22.00 to $24.00 in a note issued to investors on Thursday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Macquarie’s target price would indicate a potential upside of 39.62% from the company’s previous close.

Other equities analysts have also issued research reports about the company. William Blair reissued an “outperform” rating on shares of Carnival Co. & in a research note on Tuesday, March 19th. JPMorgan Chase & Co. boosted their price objective on Carnival Co. & from $22.00 to $23.00 and gave the stock an “overweight” rating in a research note on Thursday. Truist Financial boosted their price objective on Carnival Co. & from $15.00 to $18.00 and gave the stock a “hold” rating in a research note on Thursday, January 18th. The Goldman Sachs Group started coverage on Carnival Co. & in a research note on Wednesday, March 13th. They issued a “buy” rating and a $20.00 price objective on the stock. Finally, Citigroup upped their price target on Carnival Co. & from $19.00 to $23.00 and gave the company a “buy” rating in a research note on Wednesday, December 20th. One analyst has rated the stock with a sell rating, three have given a hold rating and seventeen have given a buy rating to the stock. According to data from MarketBeat.com, Carnival Co. & presently has a consensus rating of “Moderate Buy” and an average target price of $21.42.

Carnival Co. & Stock Performance

Shares of NYSE:CCL opened at $17.19 on Thursday. The business’s fifty day moving average price is $16.03 and its two-hundred day moving average price is $15.33. Carnival Co. & has a fifty-two week low of $8.70 and a fifty-two week high of $19.74. The stock has a market capitalization of $19.24 billion, a price-to-earnings ratio of -143.24 and a beta of 2.54. The company has a debt-to-equity ratio of 4.14, a current ratio of 0.46 and a quick ratio of 0.41.

Carnival Co. & (NYSE:CCL) last announced its quarterly earnings results on Wednesday, March 27th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.18) by $0.04. Carnival Co. & had a positive return on equity of 0.02% and a negative net margin of 0.34%. The firm had revenue of $5.41 billion for the quarter, compared to analysts’ expectations of $5.42 billion. During the same period in the prior year, the business posted ($0.55) earnings per share. The business’s revenue was up 22.0% compared to the same quarter last year. As a group, analysts predict that Carnival Co. & will post 0.99 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CFO David Bernstein sold 153,995 shares of the stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $15.37, for a total transaction of $2,366,903.15. Following the completion of the transaction, the chief financial officer now directly owns 181,981 shares in the company, valued at $2,797,047.97. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. 11.00% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Friedenthal Financial bought a new position in Carnival Co. & in the fourth quarter valued at approximately $28,000. ICA Group Wealth Management LLC acquired a new stake in shares of Carnival Co. & in the fourth quarter valued at approximately $31,000. Farther Finance Advisors LLC lifted its position in shares of Carnival Co. & by 59.6% in the second quarter. Farther Finance Advisors LLC now owns 1,792 shares of the company’s stock valued at $34,000 after buying an additional 669 shares during the last quarter. Massmutual Trust Co. FSB ADV lifted its position in shares of Carnival Co. & by 67.2% in the fourth quarter. Massmutual Trust Co. FSB ADV now owns 1,838 shares of the company’s stock valued at $34,000 after buying an additional 739 shares during the last quarter. Finally, 1832 Asset Management L.P. lifted its position in shares of Carnival Co. & by 66.7% in the fourth quarter. 1832 Asset Management L.P. now owns 2,000 shares of the company’s stock valued at $37,000 after buying an additional 800 shares during the last quarter. 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.