Carnival Co. & (NYSE:CCL) Stock Price Expected to Rise, Citigroup Analyst Says

Carnival Co. & (NYSE:CCL) had its price target lifted by stock analysts at Citigroup from $28.00 to $30.00 in a research note issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s price target indicates a potential upside of 14.59% from the company’s previous close.

Several other equities research analysts also recently issued reports on the stock. The Goldman Sachs Group boosted their price objective on shares of Carnival Co. & from $24.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday. Tigress Financial lifted their price target on shares of Carnival Co. & from $25.00 to $28.00 and gave the stock a “buy” rating in a research note on Monday, October 7th. Stifel Nicolaus lifted their price target on shares of Carnival Co. & from $27.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday. Macquarie lifted their price objective on shares of Carnival Co. & from $25.00 to $26.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. Finally, Bank of America lifted their price objective on shares of Carnival Co. & from $24.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.91.

Carnival Co. & Stock Performance

Shares of CCL opened at $26.18 on Wednesday. The company has a debt-to-equity ratio of 3.10, a quick ratio of 0.26 and a current ratio of 0.30. The company has a market capitalization of $30.22 billion, a price-to-earnings ratio of 23.75 and a beta of 2.67. The company’s 50 day simple moving average is $23.09 and its 200 day simple moving average is $19.01. Carnival Co. & has a 1 year low of $13.78 and a 1 year high of $27.17.

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

Insider Buying and Selling

In other Carnival Co. & news, Director Sir Jonathon Band sold 17,500 shares of the stock in a transaction that occurred 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 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 11.00% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Franklin Resources Inc. increased its stake in shares of Carnival Co. & by 8.5% during the 3rd quarter. Franklin Resources Inc. now owns 58,985 shares of the company’s stock worth $1,192,000 after purchasing an additional 4,601 shares during the last quarter. Synovus Financial Corp increased 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 during the period. Tidal Investments LLC increased its position in Carnival Co. & by 2.9% in the 3rd quarter. Tidal Investments LLC now owns 73,147 shares of the company’s stock worth $1,352,000 after buying an additional 2,033 shares during the period. Wilmington Savings Fund Society FSB bought a new position in Carnival Co. & in the 3rd quarter worth approximately $87,000. Finally, World Investment Advisors LLC acquired a new stake in shares of Carnival Co. & during the 3rd quarter worth approximately $252,000. 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.