Carnival Co. & (NYSE:CCL) Shares Gap Up – What’s Next?

Carnival Co. & plc (NYSE:CCL) shares gapped up prior to trading on Tuesday . The stock had previously closed at $20.21, but opened at $20.78. Carnival Co. & shares last traded at $20.98, with a volume of 10,597,855 shares traded.

Analysts Set New Price Targets

A number of research analysts recently weighed in on CCL shares. Deutsche Bank Aktiengesellschaft raised their price objective on Carnival Co. & from $18.00 to $19.00 and gave the company a “hold” rating in a research report on Wednesday, June 26th. Argus lifted their price target on Carnival Co. & from $20.00 to $25.00 and gave the stock a “buy” rating in a research report on Thursday, June 27th. JPMorgan Chase & Co. increased their price objective on shares of Carnival Co. & from $23.00 to $25.00 and gave the company an “overweight” rating in a research report on Wednesday, July 24th. Susquehanna reaffirmed a “positive” rating and issued a $22.00 target price on shares of Carnival Co. & in a report on Wednesday, June 26th. Finally, Barclays increased their price target on shares of Carnival Co. & from $25.00 to $26.00 and gave the company an “overweight” rating in a report on Tuesday, October 1st. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Carnival Co. & presently has a consensus rating of “Moderate Buy” and an average target price of $23.53.

Carnival Co. & Price Performance

The firm has a market capitalization of $24.25 billion, a PE ratio of 33.08 and a beta of 2.69. 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 firm has a 50-day simple moving average of $17.03 and a 200-day simple moving average of $16.40.

Carnival Co. & (NYSE:CCL) last posted its quarterly earnings data on Monday, September 30th. The company reported $1.27 earnings per share (EPS) for the quarter, topping 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 company had revenue of $7.90 billion for the quarter, compared to the consensus estimate of $7.82 billion. During the same quarter last year, the firm posted $0.86 earnings per share. The firm’s revenue was up 15.2% compared to the same quarter last year. As a group, equities analysts forecast that Carnival Co. & plc will post 1.33 earnings per share for the current year.

Institutional Trading of Carnival Co. &

A number of hedge funds and other institutional investors have recently bought and sold shares of CCL. Wedge Capital Management L L P NC grew its stake in shares of Carnival Co. & by 10.1% during the 3rd quarter. Wedge Capital Management L L P NC now owns 264,728 shares of the company’s stock valued at $4,892,000 after acquiring an additional 24,198 shares during the period. CVA Family Office LLC boosted its position in shares of Carnival Co. & by 163.9% in the third quarter. CVA Family Office LLC now owns 1,940 shares of the company’s stock worth $36,000 after purchasing an additional 1,205 shares during the period. Exchange Traded Concepts LLC increased its stake in shares of Carnival Co. & by 499.3% in the third quarter. Exchange Traded Concepts LLC now owns 7,072 shares of the company’s stock worth $131,000 after purchasing an additional 5,892 shares in the last quarter. Perpetual Ltd raised its position in shares of Carnival Co. & by 38.7% during the 3rd quarter. Perpetual Ltd now owns 1,660,935 shares of the company’s stock valued at $30,694,000 after purchasing an additional 463,696 shares during the period. Finally, CWM LLC lifted its stake in shares of Carnival Co. & by 125.8% during the 3rd quarter. CWM LLC now owns 69,533 shares of the company’s stock valued at $1,285,000 after buying an additional 38,741 shares in the last quarter. Hedge funds and other institutional investors own 67.19% of the company’s stock.

Carnival Co. & Company Profile

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.