Carnival Co. & (NYSE:CCL) Trading Up 0.3% on Analyst Upgrade

Carnival Co. & plc (NYSE:CCL)’s share price traded up 0.3% during trading on Wednesday after Bank of America raised their price target on the stock from $24.00 to $28.00. Bank of America currently has a buy rating on the stock. Carnival Co. & traded as high as $24.83 and last traded at $24.67. 6,348,641 shares were traded during mid-day trading, a decline of 79% from the average session volume of 29,608,600 shares. The stock had previously closed at $24.59.

Other research analysts have also recently issued reports about the stock. JPMorgan Chase & Co. lifted their price target on shares of Carnival Co. & from $23.00 to $25.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Tigress Financial upped their price target on shares of Carnival Co. & from $25.00 to $28.00 and gave the stock a “buy” rating in a research report on Monday, October 7th. Stifel Nicolaus raised their price objective on Carnival Co. & from $25.00 to $27.00 and gave the company a “buy” rating in a research report on Friday, September 20th. Macquarie upped their target price 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, Hsbc Global Res upgraded Carnival Co. & to a “moderate sell” rating in a report on Tuesday, September 3rd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat, Carnival Co. & has an average rating of “Moderate Buy” and a consensus price target of $23.78.

Insider Activity

In other Carnival Co. & news, Director Sir Jonathon Band sold 17,500 shares of the stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $21.72, for a total transaction of $380,100.00. Following the sale, the director now directly owns 65,789 shares of the company’s stock, valued at approximately $1,428,937.08. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 11.00% of the company’s stock.

Institutional Trading of Carnival Co. &

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

Carnival Co. & Stock Performance

The company’s 50-day simple moving average is $19.81 and its 200-day simple moving average is $17.48. The stock has a market cap of $28.33 billion, a price-to-earnings ratio of 21.96 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 issued its quarterly earnings results on Monday, September 30th. The company reported $1.27 earnings per share for the quarter, topping analysts’ consensus estimates of $1.17 by $0.10. Carnival Co. & had a return on equity of 22.30% and a net margin of 6.39%. The firm had revenue of $7.90 billion for the quarter, compared to analysts’ expectations of $7.82 billion. During the same quarter last year, the business posted $0.86 EPS. Carnival Co. &’s revenue was up 15.2% on a year-over-year basis. Analysts predict that Carnival Co. & plc will post 1.33 EPS for the current fiscal 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.