PNC Financial Services Group Inc. Acquires 18,545 Shares of Carnival Corporation $CCL

PNC Financial Services Group Inc. increased its stake in Carnival Corporation (NYSE:CCL) by 9.2% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 220,847 shares of the company’s stock after purchasing an additional 18,545 shares during the period. PNC Financial Services Group Inc.’s holdings in Carnival were worth $6,210,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Carnival by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 119,505,754 shares of the company’s stock worth $2,333,947,000 after buying an additional 2,410,188 shares during the last quarter. Causeway Capital Management LLC purchased a new position in Carnival in the first quarter worth $518,816,000. Nuveen LLC bought a new position in Carnival in the first quarter valued at $432,718,000. Invesco Ltd. raised its position in Carnival by 24.7% during the first quarter. Invesco Ltd. now owns 12,965,228 shares of the company’s stock valued at $253,211,000 after purchasing an additional 2,566,148 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in Carnival by 16.8% during the first quarter. Northern Trust Corp now owns 12,425,707 shares of the company’s stock worth $242,674,000 after purchasing an additional 1,787,015 shares during the last quarter. 67.19% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Barclays raised their price objective on Carnival from $33.00 to $37.00 and gave the company an “overweight” rating in a report on Wednesday, September 17th. Citigroup lifted their price target on shares of Carnival from $37.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, October 1st. Truist Financial boosted their price objective on shares of Carnival from $27.00 to $31.00 and gave the stock a “hold” rating in a report on Monday, July 21st. Bank of America increased their target price on shares of Carnival from $31.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, July 23rd. Finally, Wall Street Zen cut shares of Carnival from a “buy” rating to a “hold” rating in a research report on Saturday, October 4th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, Carnival presently has a consensus rating of “Moderate Buy” and a consensus price target of $33.00.

Carnival Stock Down 0.6%

Shares of Carnival stock opened at $25.99 on Monday. The company has a current ratio of 0.34, a quick ratio of 0.30 and a debt-to-equity ratio of 2.10. Carnival Corporation has a 12-month low of $15.07 and a 12-month high of $32.80. The company has a market cap of $30.35 billion, a P/E ratio of 13.54, a PEG ratio of 0.57 and a beta of 2.67. The company’s fifty day simple moving average is $29.08 and its two-hundred day simple moving average is $27.58.

Carnival (NYSE:CCL) last issued its quarterly earnings data on Monday, September 29th. The company reported $1.43 EPS for the quarter, topping the consensus estimate of $1.32 by $0.11. Carnival had a net margin of 10.07% and a return on equity of 27.86%. The business had revenue of $8.15 billion during the quarter, compared to analyst estimates of $8.09 billion. During the same period last year, the business posted $1.27 earnings per share. Carnival’s quarterly revenue was up 3.3% compared to the same quarter last year. Carnival has set its Q4 2025 guidance at 0.230-0.230 EPS. FY 2025 guidance at 2.140-2.140 EPS. Research analysts anticipate that Carnival Corporation will post 1.77 EPS for the current year.

Carnival 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.