Bank of America Forecasts Strong Price Appreciation for Carnival Co. & (NYSE:CCL) Stock

Carnival Co. & (NYSE:CCL) had its target price boosted by research analysts at Bank of America from $24.00 to $28.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Bank of America‘s price objective would suggest a potential upside of 15.18% from the company’s current price.

A number of other equities research analysts have also recently weighed in on CCL. Citigroup lifted their price objective on Carnival Co. & from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Tigress Financial raised their price objective on shares of Carnival Co. & from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Monday, October 7th. JPMorgan Chase & Co. upped their target price on shares of Carnival Co. & from $23.00 to $25.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Macquarie upped their price objective on Carnival Co. & from $25.00 to $26.00 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. Finally, Stifel Nicolaus increased their price target on Carnival Co. & from $25.00 to $27.00 and gave the company a “buy” rating in a research report on Friday, September 20th. One research analyst has rated the stock with a sell rating, two have given a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, Carnival Co. & has an average rating of “Moderate Buy” and an average target price of $23.78.

Carnival Co. & Price Performance

CCL stock opened at $24.31 on Wednesday. Carnival Co. & has a 52-week low of $13.78 and a 52-week high of $24.99. The business has a fifty day moving average of $19.97 and a two-hundred day moving average of $17.52. The stock has a market cap of $28.06 billion, a price-to-earnings ratio of 21.71 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 posted its earnings results on Monday, September 30th. The company reported $1.27 EPS for the quarter, beating analysts’ consensus estimates of $1.17 by $0.10. The company had revenue of $7.90 billion for the quarter, compared to analysts’ expectations of $7.82 billion. Carnival Co. & had a net margin of 6.39% and a return on equity of 22.30%. Carnival Co. &’s revenue for the quarter was up 15.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.86 earnings per share. As a group, research analysts anticipate that Carnival Co. & will post 1.33 earnings per share for the current year.

Insiders Place Their Bets

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 value of $380,100.00. Following the transaction, the director now directly owns 65,789 shares of the company’s stock, valued at approximately $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 can be accessed through the SEC website. 11.00% of the stock is currently owned by corporate insiders.

Institutional Trading of Carnival Co. &

Several hedge funds and other institutional investors have recently made changes to their positions in CCL. Empowered Funds LLC grew its stake in shares of Carnival Co. & by 29.4% during the 1st quarter. Empowered Funds LLC now owns 16,467 shares of the company’s stock worth $269,000 after purchasing an additional 3,741 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. grew its position in Carnival Co. & by 21.0% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 1,141,038 shares of the company’s stock worth $18,645,000 after buying an additional 198,169 shares during the period. Anthracite Investment Company Inc. purchased a new position in Carnival Co. & in the first quarter valued at about $2,202,000. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Carnival Co. & by 2.6% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 565,055 shares of the company’s stock valued at $9,228,000 after acquiring an additional 14,569 shares during the period. Finally, Edgestream Partners L.P. boosted its stake in shares of Carnival Co. & by 53.5% during the 1st quarter. Edgestream Partners L.P. now owns 303,251 shares of the company’s stock worth $4,955,000 after acquiring an additional 105,711 shares in the last quarter. Hedge funds and other institutional investors own 67.19% of the company’s stock.

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.