Carnival Co. & (NYSE:CCL) Reaches New 52-Week High on Analyst Upgrade

Shares of Carnival Co. & plc (NYSE:CCL) hit a new 52-week high during trading on Wednesday after Citigroup raised their price target on the stock from $25.00 to $28.00. Citigroup currently has a buy rating on the stock. Carnival Co. & traded as high as $19.85 and last traded at $19.84, with a volume of 19191861 shares changing hands. The stock had previously closed at $18.87.

A number of other equities research analysts also recently weighed in on the company. Argus lifted their target price on Carnival Co. & from $20.00 to $25.00 and gave the stock a “buy” rating in a report on Thursday, June 27th. Stifel Nicolaus lifted their price objective on shares of Carnival Co. & from $25.00 to $27.00 and gave the company a “buy” rating in a research note on Friday, September 20th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Carnival Co. & from $18.00 to $19.00 and gave the stock a “hold” rating in a research note on Wednesday, June 26th. Hsbc Global Res upgraded shares of Carnival Co. & to a “moderate sell” rating in a report on Tuesday, September 3rd. Finally, Susquehanna reiterated a “positive” rating and set a $22.00 price objective on shares of Carnival Co. & in a report on Wednesday, June 26th. One equities research 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.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $23.53.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Richardson Capital Management LLC bought a new stake in Carnival Co. & in the 1st quarter worth about $26,000. Family Firm Inc. purchased a new position in shares of Carnival Co. & in the 2nd quarter worth approximately $26,000. Hantz Financial Services Inc. bought a new position in shares of Carnival Co. & in the second quarter valued at approximately $30,000. BNP Paribas purchased a new stake in shares of Carnival Co. & during the first quarter valued at approximately $32,000. Finally, CVA Family Office LLC lifted its holdings in Carnival Co. & by 163.9% during the third quarter. CVA Family Office LLC now owns 1,940 shares of the company’s stock worth $36,000 after acquiring an additional 1,205 shares during the period. Institutional investors own 67.19% of the company’s stock.

Carnival Co. & Stock Performance

The firm has a market cap of $23.53 billion, a PE ratio of 18.21 and a beta of 2.69. The company has a 50-day simple moving average of $16.80 and a two-hundred day simple moving average of $16.36. The company has a quick ratio of 0.26, a current ratio of 0.30 and a debt-to-equity ratio of 3.10.

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

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.