Carnival Co. & (NYSE:CCL) Price Target Cut to $30.00 by Analysts at Citigroup

Carnival Co. & (NYSE:CCL) had its price target lowered by Citigroup from $31.00 to $30.00 in a research note published on Monday,Benzinga reports. Citigroup currently has a buy rating on the stock.

CCL has been the topic of a number of other research reports. Sanford C. Bernstein assumed coverage on shares of Carnival Co. & in a report on Tuesday, November 26th. They issued a “market perform” rating and a $26.00 price target on the stock. Barclays raised their price target on Carnival Co. & from $31.00 to $32.00 and gave the company an “overweight” rating in a research report on Monday, December 23rd. Loop Capital cut their price objective on Carnival Co. & from $25.00 to $21.00 and set a “hold” rating for the company in a report on Monday. Truist Financial raised their price objective on Carnival Co. & from $29.00 to $30.00 and gave the company a “hold” rating in a report on Friday, January 24th. Finally, William Blair reaffirmed an “outperform” rating on shares of Carnival Co. & in a research note on Monday, March 10th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, Carnival Co. & presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.72.

Carnival Co. & Price Performance

Carnival Co. & stock opened at $21.46 on Monday. The stock has a market cap of $24.98 billion, a price-to-earnings ratio of 15.44, a PEG ratio of 0.73 and a beta of 2.66. The company has a quick ratio of 0.25, a current ratio of 0.29 and a debt-to-equity ratio of 2.80. The business has a 50-day simple moving average of $24.14 and a 200 day simple moving average of $23.07. Carnival Co. & has a 52 week low of $13.78 and a 52 week high of $28.72.

Carnival Co. & (NYSE:CCL) last issued its quarterly earnings results on Friday, March 21st. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.11. The firm had revenue of $5.81 billion during the quarter, compared to the consensus estimate of $5.74 billion. Carnival Co. & had a return on equity of 24.13% and a net margin of 7.66%. The company’s revenue for the quarter was up 7.5% on a year-over-year basis. During the same quarter last year, the company posted ($0.14) EPS. On average, research analysts forecast that Carnival Co. & will post 1.77 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. Hartford Investment Management Co. increased its position in shares of Carnival Co. & by 0.6% during the fourth quarter. Hartford Investment Management Co. now owns 64,231 shares of the company’s stock valued at $1,601,000 after buying an additional 387 shares during the period. Prestige Wealth Management Group LLC grew its holdings in shares of Carnival Co. & by 23.1% during the 4th quarter. Prestige Wealth Management Group LLC now owns 2,173 shares of the company’s stock worth $54,000 after acquiring an additional 408 shares during the period. Avidian Wealth Enterprises LLC raised its position in shares of Carnival Co. & by 4.6% in the 4th quarter. Avidian Wealth Enterprises LLC now owns 10,698 shares of the company’s stock worth $267,000 after acquiring an additional 468 shares in the last quarter. Sound View Wealth Advisors Group LLC lifted its stake in shares of Carnival Co. & by 3.3% in the 4th quarter. Sound View Wealth Advisors Group LLC now owns 14,917 shares of the company’s stock valued at $372,000 after purchasing an additional 475 shares during the period. Finally, Wealthcare Advisory Partners LLC boosted its position in shares of Carnival Co. & by 1.1% during the fourth quarter. Wealthcare Advisory Partners LLC now owns 49,108 shares of the company’s stock valued at $1,224,000 after purchasing an additional 521 shares in the last quarter. 67.19% of the stock is currently owned by institutional investors.

Carnival Co. & Company Profile

Carnival Corp. engages in the operation of cruise ships. It operates through the following business segments: North America and Australia (NAA) Cruise, Europe and Asia (EA) Cruise Operations, Cruise Support, and Tour and Others. The North America and Australia (NAA) Cruise segment includes the Carnival Cruise Line, Holland America Line, Princess Cruises, and Seabourn.