Carnival Co. & (NYSE:CCL) Price Target Cut to $30.00 by Analysts at Stifel Nicolaus

Carnival Co. & (NYSE:CCL) had its price target reduced by Stifel Nicolaus from $34.00 to $30.00 in a research note published on Friday,Benzinga reports. Stifel Nicolaus currently has a buy rating on the stock.

A number of other equities research analysts also recently issued reports on CCL. William Blair restated an “outperform” rating on shares of Carnival Co. & in a research note on Monday, March 10th. Sanford C. Bernstein initiated coverage on Carnival Co. & in a research note on Tuesday, November 26th. They set a “market perform” rating and a $26.00 price target for the company. Truist Financial boosted their price target on Carnival Co. & from $29.00 to $30.00 and gave the company a “hold” rating in a research note on Friday, January 24th. Mizuho lifted their price objective on Carnival Co. & from $26.00 to $32.00 and gave the company an “outperform” rating in a research report on Thursday, December 5th. Finally, Citigroup lifted their price objective on Carnival Co. & from $30.00 to $31.00 and gave the company a “buy” rating in a research report on Monday, December 23rd. One investment analyst has rated the stock with a sell rating, four have given a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $26.89.

Carnival Co. & Price Performance

NYSE CCL opened at $19.93 on Friday. Carnival Co. & has a one year low of $13.78 and a one year high of $28.72. The stock has a 50-day moving average of $24.52 and a 200 day moving average of $22.80. The company has a market capitalization of $23.20 billion, a price-to-earnings ratio of 14.33, a PEG ratio of 0.73 and a beta of 2.66. The company has a debt-to-equity ratio of 2.80, a quick ratio of 0.25 and a current ratio of 0.29.

Carnival Co. & (NYSE:CCL) last released its quarterly earnings results on Friday, December 20th. The company reported $0.14 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.06. The business had revenue of $5.94 billion during the quarter, compared to the consensus estimate of $5.94 billion. Carnival Co. & had a return on equity of 24.13% and a net margin of 7.66%. The business’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.07) EPS. On average, sell-side analysts forecast that Carnival Co. & will post 1.77 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its holdings in shares of Carnival Co. & by 4.0% during the 4th quarter. Vanguard Group Inc. now owns 117,095,566 shares of the company’s stock worth $2,918,022,000 after acquiring an additional 4,458,329 shares in the last quarter. State Street Corp raised its holdings in shares of Carnival Co. & by 5.9% during the 3rd quarter. State Street Corp now owns 41,426,562 shares of the company’s stock worth $765,563,000 after acquiring an additional 2,301,906 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Carnival Co. & by 5.0% during the 4th quarter. Geode Capital Management LLC now owns 25,228,416 shares of the company’s stock worth $627,053,000 after acquiring an additional 1,201,256 shares in the last quarter. Nuveen Asset Management LLC raised its holdings in shares of Carnival Co. & by 33.7% during the 4th quarter. Nuveen Asset Management LLC now owns 22,850,042 shares of the company’s stock worth $569,423,000 after acquiring an additional 5,761,489 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its holdings in shares of Carnival Co. & by 4.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 18,649,543 shares of the company’s stock worth $464,747,000 after acquiring an additional 877,694 shares in the last quarter. 67.19% of the stock is owned by hedge funds and other institutional investors.

Carnival Co. & Company Profile

Carnival Corp. engages in the operation of cruise ships. It operates through the following business segments: North America and Australia (NAA) Cruise, Europe and Asia (EA) Cruise Operations, Cruise Support, and Tour and Others. The North America and Australia (NAA) Cruise segment includes the Carnival Cruise Line, Holland America Line, Princess Cruises, and Seabourn.