Carnival Co. & (NYSE:CCL) Shares Up 0.3% Following Analyst Upgrade

Carnival Co. & plc (NYSE:CCL)’s share price was up 0.3% during trading on Thursday after Bank of America raised their price target on the stock from $23.00 to $24.00. Bank of America currently has a buy rating on the stock. Carnival Co. & traded as high as $18.66 and last traded at $18.43. Approximately 13,132,753 shares were traded during trading, a decline of 58% from the average daily volume of 31,260,223 shares. The stock had previously closed at $18.37.

Several other research analysts have also weighed in on the company. Wells Fargo & Company lifted their target price on Carnival Co. & from $22.00 to $23.00 and gave the stock an “overweight” rating in a report on Friday, May 17th. The Goldman Sachs Group started coverage on Carnival Co. & in a report on Wednesday, March 13th. They set a “buy” rating and a $20.00 target price on the stock. Tigress Financial lifted their target price on Carnival Co. & from $23.00 to $25.00 and gave the stock a “buy” rating in a report on Wednesday, April 3rd. Citigroup lifted their target price on Carnival Co. & from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Macquarie boosted their price target on Carnival Co. & from $22.00 to $24.00 and gave the company an “outperform” rating in a report on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $22.00.

Hedge Funds Weigh In On Carnival Co. &

Institutional investors have recently bought and sold shares of the business. Friedenthal Financial acquired a new position in Carnival Co. & during the fourth quarter worth approximately $28,000. Richardson Capital Management LLC acquired a new position in Carnival Co. & during the first quarter worth approximately $26,000. ICA Group Wealth Management LLC acquired a new position in Carnival Co. & during the fourth quarter worth approximately $31,000. Massmutual Trust Co. FSB ADV grew 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 purchasing an additional 739 shares during the last quarter. Finally, BNP Paribas acquired a new position in shares of Carnival Co. & in the first quarter valued at approximately $32,000. Institutional investors and hedge funds own 67.19% of the company’s stock.

Carnival Co. & Stock Up 1.3 %

The firm has a 50-day moving average price of $15.46 and a 200 day moving average price of $16.12. The company has a debt-to-equity ratio of 4.27, a current ratio of 0.36 and a quick ratio of 0.32. The company has a market cap of $20.88 billion, a price-to-earnings ratio of 28.34 and a beta of 2.57.

Carnival Co. & (NYSE:CCL) last posted its earnings results on Tuesday, June 25th. The company reported $0.11 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.12. Carnival Co. & had a return on equity of 15.20% and a net margin of 3.86%. The company had revenue of $5.78 billion for the quarter, compared to the consensus estimate of $5.68 billion. During the same quarter in the prior year, the business earned ($0.31) earnings per share. The firm’s revenue for the quarter was up 17.7% on a year-over-year basis. Sell-side analysts predict that Carnival Co. & plc will post 1.18 EPS for the current 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.