Truist Financial Issues Positive Forecast for Carnival Co. & (NYSE:CCL) Stock Price

Carnival Co. & (NYSE:CCL) had its target price hoisted by Truist Financial from $29.00 to $30.00 in a research note issued to investors on Friday morning,Benzinga reports. Truist Financial currently has a hold rating on the stock.

A number of other analysts also recently commented on CCL. Bank of America raised their price objective on Carnival Co. & from $24.00 to $28.00 and gave the stock a “buy” rating in a research report on Wednesday, November 13th. The Goldman Sachs Group lifted their price target on shares of Carnival Co. & from $24.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, December 10th. Citigroup increased their price objective on shares of Carnival Co. & from $30.00 to $31.00 and gave the company a “buy” rating in a research note on Monday, December 23rd. Macquarie lifted their target price on shares of Carnival Co. & from $25.00 to $26.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. Finally, Wells Fargo & Company increased their price target on shares of Carnival Co. & from $25.00 to $30.00 and gave the stock an “overweight” rating in a research report on Monday, December 16th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $27.24.

Carnival Co. & Stock Down 0.7 %

CCL opened at $25.43 on Friday. The business has a 50 day moving average of $25.33 and a 200-day moving average of $20.91. The stock has a market capitalization of $29.35 billion, a price-to-earnings ratio of 18.30, a P/E/G ratio of 0.80 and a beta of 2.64. The company has a current ratio of 0.29, a quick ratio of 0.25 and a debt-to-equity ratio of 2.80. Carnival Co. & has a 1-year low of $13.78 and a 1-year high of $27.17.

Carnival Co. & (NYSE:CCL) last posted its quarterly earnings results on Friday, December 20th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.06. The company had revenue of $5.94 billion for the quarter, compared to analyst estimates of $5.94 billion. Carnival Co. & had a net margin of 7.66% and a return on equity of 24.13%. The business’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period last year, the business posted ($0.07) EPS. As a group, sell-side analysts anticipate that Carnival Co. & will post 1.74 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Sir Jonathon Band sold 17,500 shares of Carnival Co. & stock in a transaction 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 completion of the sale, the director now directly owns 65,789 shares of the company’s stock, valued at approximately $1,428,937.08. This trade represents a 21.01 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 11.00% of the company’s stock.

Hedge Funds Weigh In On Carnival Co. &

Hedge funds have recently added to or reduced their stakes in the company. Mizuho Securities USA LLC grew its holdings in Carnival Co. & by 8,431.1% during the 3rd quarter. Mizuho Securities USA LLC now owns 6,644,000 shares of the company’s stock worth $122,781,000 after acquiring an additional 6,566,120 shares during the period. International Assets Investment Management LLC increased its holdings in Carnival Co. & by 2,400.1% in the third quarter. International Assets Investment Management LLC now owns 3,010,189 shares of the company’s stock valued at $556,280,000 after purchasing an additional 2,889,785 shares during the last quarter. State Street Corp lifted its stake in Carnival Co. & by 5.9% in the third quarter. State Street Corp now owns 41,426,562 shares of the company’s stock valued at $765,563,000 after buying an additional 2,301,906 shares during the period. Wedge Capital Management L L P NC boosted its holdings in Carnival Co. & by 718.2% during the fourth quarter. Wedge Capital Management L L P NC now owns 2,165,952 shares of the company’s stock worth $53,976,000 after buying an additional 1,901,224 shares during the last quarter. Finally, Holocene Advisors LP acquired a new position in shares of Carnival Co. & during the 3rd quarter worth about $26,806,000. Institutional investors own 67.19% of the company’s stock.

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.