Carnival Co. & (NYSE:CCL) Stock Price Expected to Rise, The Goldman Sachs Group Analyst Says

Carnival Co. & (NYSE:CCL) had its target price increased by The Goldman Sachs Group from $24.00 to $32.00 in a research report released on Tuesday,Benzinga reports. The firm currently has a buy rating on the stock.

Several other equities research analysts also recently weighed in on the stock. Truist Financial upped their price objective on shares of Carnival Co. & from $20.00 to $29.00 and gave the stock a “hold” rating in a report on Monday, December 2nd. Macquarie increased their price objective on shares of Carnival Co. & from $25.00 to $26.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. Barclays boosted their target price on Carnival Co. & from $25.00 to $26.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. Bank of America lifted their price target on Carnival Co. & from $24.00 to $28.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, Mizuho raised their target price on Carnival Co. & from $26.00 to $32.00 and gave the company an “outperform” rating in a research note on Thursday, December 5th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.91.

Carnival Co. & Stock Performance

Shares of CCL opened at $26.18 on Tuesday. The firm has a fifty day moving average of $23.09 and a 200-day moving average of $19.01. The company has a market cap of $30.22 billion, a price-to-earnings ratio of 23.75 and a beta of 2.67. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.26 and a current ratio of 0.30. Carnival Co. & has a 1 year low of $13.78 and a 1 year high of $27.17.

Carnival Co. & (NYSE:CCL) last released its quarterly 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 return on equity of 22.30% and a net margin of 6.39%. The company had revenue of $7.90 billion for the quarter, compared to analysts’ expectations of $7.82 billion. During the same quarter in the previous year, the company posted $0.86 earnings per share. The business’s revenue for the quarter was up 15.2% compared to the same quarter last year. As a group, equities analysts anticipate that Carnival Co. & will post 1.33 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Sir Jonathon Band sold 17,500 shares of the stock in a transaction on Tuesday, October 29th. The stock was sold at an average price of $21.72, for a total value of $380,100.00. Following the completion of the sale, the director now owns 65,789 shares in the company, valued at $1,428,937.08. This represents a 21.01 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 11.00% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. Encompass Wealth Advisors LLC grew its stake in Carnival Co. & by 2.9% during the 3rd quarter. Encompass Wealth Advisors LLC now owns 16,079 shares of the company’s stock valued at $297,000 after acquiring an additional 451 shares in the last quarter. Metis Global Partners LLC boosted its holdings in shares of Carnival Co. & by 2.0% during the third quarter. Metis Global Partners LLC now owns 32,393 shares of the company’s stock worth $599,000 after purchasing an additional 621 shares during the period. Continuum Advisory LLC increased its stake in Carnival Co. & by 22.1% in the 2nd quarter. Continuum Advisory LLC now owns 3,480 shares of the company’s stock valued at $65,000 after buying an additional 630 shares during the period. PFG Investments LLC lifted its position in Carnival Co. & by 2.8% in the 3rd quarter. PFG Investments LLC now owns 23,659 shares of the company’s stock worth $437,000 after buying an additional 641 shares in the last quarter. Finally, Synovus Financial Corp lifted its position in Carnival Co. & by 5.5% in the 3rd quarter. Synovus Financial Corp now owns 13,456 shares of the company’s stock worth $249,000 after buying an additional 700 shares in the last quarter. 67.19% of the stock is owned by institutional investors and hedge funds.

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.