Carnival Co. & (NYSE:CCL) Coverage Initiated at Sanford C. Bernstein

Equities researchers at Sanford C. Bernstein started coverage on shares of Carnival Co. & (NYSE:CCL) in a research note issued to investors on Tuesday, MarketBeat Ratings reports. The brokerage set a “market perform” rating and a $26.00 price target on the stock. Sanford C. Bernstein’s target price suggests a potential upside of 3.38% from the company’s current price.

Other equities analysts also recently issued research reports about the stock. Barclays upped their price objective on shares of Carnival Co. & from $25.00 to $26.00 and gave the company an “overweight” rating in a research note on Tuesday, October 1st. Morgan Stanley increased their price target on Carnival Co. & from $15.00 to $16.50 and gave the stock an “underweight” rating in a research note on Tuesday, October 1st. Bank of America raised their price objective on Carnival Co. & from $24.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. Macquarie upped their target price on Carnival Co. & from $25.00 to $26.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. Finally, Tigress Financial raised their price target on Carnival Co. & from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $23.91.

Carnival Co. & Stock Performance

NYSE CCL opened at $25.15 on Tuesday. 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. & has a fifty-two week low of $13.78 and a fifty-two week high of $25.80. The business has a fifty day moving average of $21.58 and a 200-day moving average of $18.25. The stock has a market cap of $29.03 billion, a price-to-earnings ratio of 22.46 and a beta of 2.66.

Carnival Co. & (NYSE:CCL) last posted its quarterly earnings data on Monday, September 30th. The company reported $1.27 EPS for the quarter, topping analysts’ consensus estimates of $1.17 by $0.10. The firm had revenue of $7.90 billion during the quarter, compared to analysts’ expectations of $7.82 billion. Carnival Co. & had a return on equity of 22.30% and a net margin of 6.39%. The firm’s quarterly revenue was up 15.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.86 EPS. As a group, analysts predict that Carnival Co. & will post 1.33 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Sir Jonathon Band sold 17,500 shares of the company’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 completion of the transaction, the director now directly owns 65,789 shares in the company, valued at approximately $1,428,937.08. This represents a 21.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 11.00% of the company’s stock.

Hedge Funds Weigh In On Carnival Co. &

A number of institutional investors have recently added to or reduced their stakes in the company. State Street Corp raised its position in shares of Carnival Co. & by 5.9% in the 3rd quarter. State Street Corp now owns 41,426,562 shares of the company’s stock valued at $765,563,000 after purchasing an additional 2,301,906 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC bought a new position in Carnival Co. & during the 2nd quarter valued at $466,838,000. Geode Capital Management LLC boosted its stake in Carnival Co. & by 3.5% during the 3rd quarter. Geode Capital Management LLC now owns 24,027,160 shares of the company’s stock valued at $442,515,000 after acquiring an additional 811,692 shares during the last quarter. Marshall Wace LLP grew its holdings in Carnival Co. & by 510.5% during the 2nd quarter. Marshall Wace LLP now owns 10,331,092 shares of the company’s stock worth $193,398,000 after acquiring an additional 8,638,865 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake 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 valued at $179,435,000 after purchasing an additional 2,911,100 shares in the last quarter. Institutional investors and hedge funds own 67.19% of the company’s stock.

About Carnival Co. &

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.