Carnival Co. & (NYSE:CCL) Reaches New 1-Year High – Here’s Why

Carnival Co. & plc (NYSE:CCL)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $19.85 and last traded at $19.84, with a volume of 19191861 shares. The stock had previously closed at $18.87.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Tigress Financial boosted their target price on Carnival Co. & from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Monday. Barclays upped their price objective on Carnival Co. & from $25.00 to $26.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. Deutsche Bank Aktiengesellschaft raised their target price on Carnival Co. & from $18.00 to $19.00 and gave the company a “hold” rating in a research report on Wednesday, June 26th. JPMorgan Chase & Co. boosted their price target on shares of Carnival Co. & from $23.00 to $25.00 and gave the stock an “overweight” rating in a report on Wednesday, July 24th. Finally, Mizuho raised their price objective on shares of Carnival Co. & from $25.00 to $26.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, two have given a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, Carnival Co. & has an average rating of “Moderate Buy” and an average price target of $23.16.

Carnival Co. & Stock Up 7.4 %

The company has a market cap of $22.75 billion, a P/E ratio of 30.52 and a beta of 2.69. The stock has a 50-day moving average of $16.63 and a two-hundred day moving average of $16.30. The company has a debt-to-equity ratio of 3.99, a quick ratio of 0.24 and a current ratio of 0.28.

Carnival Co. & (NYSE:CCL) last announced its quarterly earnings data on Monday, September 30th. The company reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.10. Carnival Co. & had a net margin of 3.86% and a return on equity of 15.22%. The company had revenue of $7.90 billion during the quarter, compared to analysts’ expectations of $7.82 billion. During the same quarter in the prior year, the company earned $0.86 EPS. The firm’s revenue was up 15.2% on a year-over-year basis. On average, research analysts anticipate that Carnival Co. & plc will post 1.21 EPS for the current fiscal year.

Hedge Funds Weigh In On Carnival Co. &

A number of hedge funds have recently modified their holdings of the company. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in Carnival Co. & during the 2nd quarter valued at $466,838,000. Marshall Wace LLP increased its position in shares of Carnival Co. & by 510.5% during the second quarter. Marshall Wace LLP now owns 10,331,092 shares of the company’s stock valued at $193,398,000 after buying an additional 8,638,865 shares during the period. Renaissance Technologies LLC raised its position in shares of Carnival Co. & by 43.6% in the 2nd quarter. Renaissance Technologies LLC now owns 9,585,200 shares of the company’s stock worth $179,435,000 after acquiring an additional 2,911,100 shares in the last quarter. Point72 Asset Management L.P. lifted its stake in shares of Carnival Co. & by 210.1% in the 4th quarter. Point72 Asset Management L.P. now owns 3,894,286 shares of the company’s stock valued at $72,200,000 after purchasing an additional 2,638,564 shares during the period. Finally, Goldentree Asset Management LP bought a new stake in shares of Carnival Co. & during the first quarter valued at approximately $31,917,000. 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.