Brokerages Set Carnival Co. & plc (NYSE:CCL) Target Price at $23.78

Carnival Co. & plc (NYSE:CCL) has earned an average rating of “Moderate Buy” from the seventeen brokerages that are currently covering the stock, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and fourteen have assigned a buy recommendation to the company. The average twelve-month price target among brokerages that have issued ratings on the stock in the last year is $23.78.

Several research analysts recently weighed in on CCL shares. Morgan Stanley upped their target price on Carnival Co. & from $15.00 to $16.50 and gave the company an “underweight” rating in a research report on Tuesday, October 1st. Barclays upped their target price on Carnival Co. & from $25.00 to $26.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st. Hsbc Global Res upgraded shares of Carnival Co. & to a “moderate sell” rating in a research note on Tuesday, September 3rd. Mizuho increased their price objective on shares of Carnival Co. & from $25.00 to $26.00 and gave the stock an “outperform” rating in a research note on Tuesday, October 1st. Finally, Bank of America boosted their price target on Carnival Co. & from $24.00 to $28.00 and gave the company a “buy” rating in a report on Wednesday, November 13th.

Insiders Place Their Bets

In related news, Director Sir Jonathon Band sold 17,500 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $21.72, for a total value of $380,100.00. Following the transaction, the director now directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 11.00% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. State Street Corp lifted its stake in Carnival Co. & by 5.9% during the third 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 in the last quarter. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in shares of Carnival Co. & in the 2nd quarter valued at about $466,838,000. Geode Capital Management LLC boosted its holdings in shares of Carnival Co. & by 3.5% in the third quarter. Geode Capital Management LLC now owns 24,027,160 shares of the company’s stock valued at $442,515,000 after acquiring an additional 811,692 shares during the period. Marshall Wace LLP grew its position in Carnival Co. & by 510.5% during the 2nd quarter. Marshall Wace LLP now owns 10,331,092 shares of the company’s stock worth $193,398,000 after purchasing an additional 8,638,865 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in shares of Carnival Co. & by 43.6% during the second quarter. Renaissance Technologies LLC now owns 9,585,200 shares of the company’s stock worth $179,435,000 after purchasing an additional 2,911,100 shares during the last quarter. Institutional investors and hedge funds own 67.19% of the company’s stock.

Carnival Co. & Price Performance

CCL opened at $25.35 on Tuesday. The company has a current ratio of 0.30, a quick ratio of 0.26 and a debt-to-equity ratio of 3.10. The company has a market capitalization of $29.26 billion, a price-to-earnings ratio of 22.63 and a beta of 2.66. The business’s fifty day simple moving average is $21.00 and its 200-day simple moving average is $17.93. Carnival Co. & has a 12-month low of $13.78 and a 12-month high of $25.60.

Carnival Co. & (NYSE:CCL) last announced its quarterly earnings results on Monday, September 30th. The company reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.17 by $0.10. The business had revenue of $7.90 billion for the quarter, compared to the consensus estimate of $7.82 billion. Carnival Co. & had a return on equity of 22.30% and a net margin of 6.39%. The business’s revenue was up 15.2% compared to the same quarter last year. During the same period last year, the business posted $0.86 EPS. On average, equities research analysts anticipate that Carnival Co. & will post 1.33 earnings per share for the current fiscal 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.