Truist Financial Forecasts Strong Price Appreciation for Carnival Co. & (NYSE:CCL) Stock

Carnival Co. & (NYSE:CCL) had its price target lifted by stock analysts at Truist Financial from $29.00 to $30.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage presently has a “hold” rating on the stock. Truist Financial’s target price suggests a potential upside of 17.96% from the company’s current price.

Other research analysts have also issued research reports about the stock. Sanford C. Bernstein started coverage on shares of Carnival Co. & in a research note on Tuesday, November 26th. They issued a “market perform” rating and a $26.00 price target on the stock. Tigress Financial boosted their price objective on shares of Carnival Co. & from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Monday, October 7th. Barclays upped their target price on shares of Carnival Co. & from $31.00 to $32.00 and gave the stock an “overweight” rating in a research note on Monday, December 23rd. Citigroup lifted their price target on Carnival Co. & from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Monday, December 23rd. Finally, Bank of America upped their price objective on Carnival Co. & from $24.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, Carnival Co. & currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.24.

Carnival Co. & Price Performance

Shares of CCL stock opened at $25.43 on Friday. The company has a quick ratio of 0.25, a current ratio of 0.29 and a debt-to-equity ratio of 2.80. Carnival Co. & has a 12-month low of $13.78 and a 12-month high of $27.17. The firm has a fifty day moving average of $25.33 and a 200-day moving average of $20.89. The firm has a market capitalization of $29.35 billion, a price-to-earnings ratio of 18.30, a price-to-earnings-growth ratio of 0.80 and a beta of 2.64.

Carnival Co. & (NYSE:CCL) last posted its earnings results on Friday, December 20th. The company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.06. The firm had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.94 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 10.0% on a year-over-year basis. During the same period in the previous year, the company posted ($0.07) earnings per share. On average, equities research analysts forecast that Carnival Co. & will post 1.74 earnings per share for the current year.

Insiders Place Their Bets

In other Carnival Co. & news, Director Sir Jonathon Band sold 17,500 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the director now directly owns 65,789 shares in the company, valued at $1,428,937.08. This trade represents a 21.01 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 11.00% of the company’s stock.

Hedge Funds Weigh In On Carnival Co. &

Large investors have recently made changes to their positions in the company. State Street Corp grew its holdings in 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 buying an additional 2,301,906 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Carnival Co. & by 3.5% in the third 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 period. Mizuho Securities USA LLC grew its stake in shares of Carnival Co. & by 8,431.1% in the third quarter. Mizuho Securities USA LLC now owns 6,644,000 shares of the company’s stock valued at $122,781,000 after acquiring an additional 6,566,120 shares in the last quarter. Goldentree Asset Management LP increased its position in Carnival Co. & by 16.1% during the third quarter. Goldentree Asset Management LP now owns 5,151,458 shares of the company’s stock worth $95,037,000 after acquiring an additional 712,469 shares during the period. Finally, Commonwealth Equity Services LLC raised its stake in Carnival Co. & by 1.0% in the 3rd quarter. Commonwealth Equity Services LLC now owns 4,075,201 shares of the company’s stock worth $75,310,000 after purchasing an additional 39,491 shares in the last quarter. Institutional investors own 67.19% of the company’s stock.

About Carnival Co. &

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.