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

Carnival Co. & plc (NYSE:CCL)’s stock price was 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. Approximately 6,348,641 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 29,608,600 shares. The stock had previously closed at $24.59.

A number of other analysts have also recently commented on the stock. Citigroup upped their price target on shares of Carnival Co. & from $25.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. raised their target price on Carnival Co. & from $23.00 to $25.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 24th. Mizuho lifted their target price on Carnival Co. & from $25.00 to $26.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Macquarie increased their price target on Carnival Co. & from $25.00 to $26.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. Finally, Hsbc Global Res raised shares of Carnival Co. & to a “moderate sell” rating in a research report on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, two have issued a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, Carnival Co. & currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.78.

Insider Activity at Carnival Co. &

In other Carnival Co. & news, Director Sir Jonathon Band sold 17,500 shares of Carnival Co. & 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 transaction, the director now directly owns 65,789 shares of the company’s stock, valued at $1,428,937.08. The trade was a 21.01 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 11.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in CCL. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in shares of Carnival Co. & in the 2nd quarter worth approximately $466,838,000. Marshall Wace LLP boosted its position in Carnival Co. & by 510.5% in the second quarter. Marshall Wace LLP now owns 10,331,092 shares of the company’s stock worth $193,398,000 after purchasing an additional 8,638,865 shares during the last quarter. Mizuho Securities USA LLC grew its stake in Carnival Co. & by 8,431.1% in the 3rd quarter. Mizuho Securities USA LLC now owns 6,644,000 shares of the company’s stock valued at $122,781,000 after purchasing an additional 6,566,120 shares during the period. Renaissance Technologies LLC increased its position in shares of Carnival Co. & by 43.6% during 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 during the last quarter. Finally, International Assets Investment Management LLC raised its stake in shares of Carnival Co. & by 2,400.1% during the 3rd quarter. International Assets Investment Management LLC now owns 3,010,189 shares of the company’s stock worth $556,280,000 after purchasing an additional 2,889,785 shares during the period. 67.19% of the stock is currently owned by hedge funds and other institutional investors.

Carnival Co. & Stock Down 1.0 %

The company has a market capitalization of $28.06 billion, a PE ratio of 21.71 and a beta of 2.66. The stock’s fifty day moving average is $19.97 and its two-hundred day moving average is $17.52. The company has a current ratio of 0.30, a quick ratio of 0.26 and a debt-to-equity ratio of 3.10.

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

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.