Carnival Co. & plc (NYSE:CCL) Receives $22.33 Consensus Price Target from Analysts

Shares of Carnival Co. & plc (NYSE:CCL) have received an average rating of “Moderate Buy” from the nineteen ratings firms that are currently covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and sixteen have given a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $22.33.

Several analysts recently issued reports on the company. Citigroup boosted their price target on Carnival Co. & from $18.00 to $22.00 and gave the stock a “buy” rating in a report on Wednesday, June 26th. Susquehanna reissued a “positive” rating and issued a $22.00 target price on shares of Carnival Co. & in a report on Wednesday, June 26th. Truist Financial raised their target price on shares of Carnival Co. & from $17.00 to $20.00 and gave the company a “hold” rating in a research note on Tuesday, July 23rd. Wells Fargo & Company lifted their price target on shares of Carnival Co. & from $22.00 to $23.00 and gave the company an “overweight” rating in a report on Friday, May 17th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Carnival Co. & from $18.00 to $19.00 and gave the company a “hold” rating in a report on Wednesday, June 26th.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Barrow Hanley Mewhinney & Strauss LLC purchased a new position in Carnival Co. & during the 2nd quarter valued at $466,838,000. Renaissance Technologies LLC boosted 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 valued at $179,435,000 after purchasing an additional 2,911,100 shares during the period. Point72 Asset Management L.P. grew its holdings in shares of Carnival Co. & by 210.1% in the fourth quarter. Point72 Asset Management L.P. now owns 3,894,286 shares of the company’s stock worth $72,200,000 after purchasing an additional 2,638,564 shares during the last quarter. Norges Bank purchased a new position in Carnival Co. & in the 4th quarter worth about $40,236,000. Finally, Goldentree Asset Management LP purchased a new position in Carnival Co. & in the 1st quarter worth about $31,917,000. Institutional investors own 67.19% of the company’s stock.

Carnival Co. & Stock Performance

Shares of NYSE CCL opened at $14.86 on Friday. The stock has a market cap of $16.68 billion, a PE ratio of 22.86 and a beta of 2.68. Carnival Co. & has a 1 year low of $10.84 and a 1 year high of $19.74. The firm has a fifty day moving average price of $16.89 and a 200-day moving average price of $15.96. The company has a debt-to-equity ratio of 3.99, a current ratio of 0.28 and a quick ratio of 0.24.

Carnival Co. & (NYSE:CCL) last issued its earnings results on Tuesday, June 25th. The company reported $0.11 earnings per share for the quarter, topping the consensus estimate of ($0.01) by $0.12. The company had revenue of $5.78 billion during the quarter, compared to the consensus estimate of $5.68 billion. Carnival Co. & had a net margin of 3.86% and a return on equity of 15.22%. Carnival Co. &’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.31) EPS. Equities analysts anticipate that Carnival Co. & will post 1.18 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.