StockNews.com Upgrades Carnival Co. & (NYSE:CCL) to “Buy”

Carnival Co. & (NYSE:CCL) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research note issued to investors on Thursday.

Several other equities research analysts also recently weighed in on the company. Truist Financial raised their price target on Carnival Co. & from $29.00 to $30.00 and gave the stock a “hold” rating in a report on Friday, January 24th. Mizuho lifted their target price on shares of Carnival Co. & from $32.00 to $33.00 and gave the stock an “outperform” rating in a research note on Monday. Wells Fargo & Company upped their price target on shares of Carnival Co. & from $25.00 to $30.00 and gave the company an “overweight” rating in a research note on Monday, December 16th. Citigroup lowered their price objective on shares of Carnival Co. & from $31.00 to $30.00 and set a “buy” rating for the company in a research note on Monday. Finally, William Blair reissued an “outperform” rating on shares of Carnival Co. & in a research report on Monday, March 10th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $26.89.

Carnival Co. & Stock Down 0.6 %

Shares of CCL stock traded down $0.14 during mid-day trading on Thursday, hitting $20.80. 14,324,546 shares of the stock traded hands, compared to its average volume of 25,634,964. The stock’s fifty day moving average is $23.91 and its two-hundred day moving average is $23.08. The company has a debt-to-equity ratio of 2.80, a current ratio of 0.29 and a quick ratio of 0.25. Carnival Co. & has a 52-week low of $13.78 and a 52-week high of $28.72. The stock has a market cap of $24.21 billion, a P/E ratio of 14.96, a P/E/G ratio of 0.73 and a beta of 2.66.

Carnival Co. & (NYSE:CCL) last released its quarterly earnings results on Friday, March 21st. The company reported $0.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.02 by $0.11. Carnival Co. & had a net margin of 7.66% and a return on equity of 24.13%. The business had revenue of $5.81 billion for the quarter, compared to analyst estimates of $5.74 billion. During the same period in the previous year, the company earned ($0.14) earnings per share. The business’s revenue for the quarter was up 7.5% on a year-over-year basis. Equities analysts predict that Carnival Co. & will post 1.77 EPS for the current year.

Hedge Funds Weigh In On Carnival Co. &

Several large investors have recently made changes to their positions in CCL. Vanguard Group Inc. raised its position in shares of Carnival Co. & by 4.0% in the fourth 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 during the period. State Street Corp raised its holdings in Carnival Co. & by 5.9% in the 3rd quarter. State Street Corp now owns 41,426,562 shares of the company’s stock worth $765,563,000 after purchasing an additional 2,301,906 shares during the period. Geode Capital Management LLC boosted its position in Carnival Co. & by 5.0% during the fourth quarter. Geode Capital Management LLC now owns 25,228,416 shares of the company’s stock worth $627,053,000 after purchasing an additional 1,201,256 shares in the last quarter. Nuveen Asset Management LLC boosted its position in Carnival Co. & by 33.7% during the fourth quarter. Nuveen Asset Management LLC now owns 22,850,042 shares of the company’s stock worth $569,423,000 after purchasing an additional 5,761,489 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its holdings in Carnival Co. & by 4.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 18,649,543 shares of the company’s stock valued at $464,747,000 after purchasing an additional 877,694 shares during the period. 67.19% of the stock is currently owned by institutional investors and hedge funds.

About Carnival Co. &

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.