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

Carnival Co. & (NYSE:CCL) had its price target raised by Morgan Stanley from $20.00 to $22.00 in a report released on Wednesday,Benzinga reports. Morgan Stanley currently has an underweight rating on the stock.

A number of other equities analysts have also recently issued reports on CCL. 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. Truist Financial upped their price target on Carnival Co. & from $20.00 to $29.00 and gave the company a “hold” rating in a research report on Monday, December 2nd. Citigroup increased their price objective on Carnival Co. & from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Monday, December 23rd. Wells Fargo & Company raised their price target on Carnival Co. & from $25.00 to $30.00 and gave the stock an “overweight” rating in a research note on Monday, December 16th. Finally, Stifel Nicolaus boosted their price objective on shares of Carnival Co. & from $32.00 to $34.00 and gave the company a “buy” rating in a research report on Monday, December 23rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $27.18.

Carnival Co. & Stock Up 0.5 %

Shares of CCL opened at $24.30 on Wednesday. Carnival Co. & has a 1 year low of $13.78 and a 1 year high of $27.17. The company has a debt-to-equity ratio of 3.10, a current ratio of 0.30 and a quick ratio of 0.26. The stock has a 50 day simple moving average of $25.06 and a two-hundred day simple moving average of $20.38. The firm has a market cap of $28.05 billion, a P/E ratio of 21.70 and a beta of 2.64.

Carnival Co. & (NYSE:CCL) last released its earnings results on Friday, December 20th. The company reported $0.14 EPS for the quarter, beating the consensus estimate of $0.08 by $0.06. Carnival Co. & had a net margin of 6.39% and a return on equity of 22.30%. The company had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.94 billion. During the same quarter last year, the firm earned ($0.07) EPS. The firm’s quarterly revenue was up 10.0% compared to the same quarter last year. On average, analysts forecast that Carnival Co. & will post 1.33 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, Director Sir Jonathon Band sold 17,500 shares of the company’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 value of $380,100.00. Following the transaction, the director now owns 65,789 shares in the company, valued at approximately $1,428,937.08. This represents a 21.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 11.00% of the stock is currently owned by company insiders.

Institutional Trading of Carnival Co. &

Institutional investors have recently added to or reduced their stakes in the business. Graypoint LLC grew its stake in shares of Carnival Co. & by 5.3% in the fourth quarter. Graypoint LLC now owns 11,074 shares of the company’s stock worth $276,000 after acquiring an additional 560 shares during the period. Watts Gwilliam & Co. LLC bought a new stake in Carnival Co. & in the 4th quarter worth approximately $215,000. Range Financial Group LLC purchased a new stake in Carnival Co. & during the 4th quarter valued at $439,000. Diversified Trust Co bought a new position in shares of Carnival Co. & during the 4th quarter valued at $1,347,000. Finally, Everence Capital Management Inc. bought a new stake in shares of Carnival Co. & in the fourth quarter worth $525,000. 67.19% of the stock is currently owned by hedge funds and other institutional investors.

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.