Carnival (NYSE:CCL) Price Target Raised to $37.00

Carnival (NYSE:CCL) had its target price boosted by Barclays from $33.00 to $37.00 in a research report released on Wednesday, MarketBeat Ratings reports. Barclays currently has an overweight rating on the stock.

A number of other brokerages have also recently weighed in on CCL. Loop Capital reiterated a “hold” rating and set a $22.00 price target on shares of Carnival in a research report on Monday, June 23rd. Bank of America lifted their price target on shares of Carnival from $31.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, July 23rd. JPMorgan Chase & Co. lifted their target price on shares of Carnival from $34.00 to $39.00 and gave the company an “overweight” rating in a report on Monday, September 15th. Susquehanna lifted their target price on shares of Carnival from $27.00 to $30.00 and gave the company a “positive” rating in a report on Wednesday, June 25th. Finally, TD Cowen began coverage on Carnival in a research note on Tuesday, July 22nd. They issued a “buy” rating and a $36.00 price objective for the company. Fifteen analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.63.

Carnival Stock Down 2.8%

CCL stock opened at $30.56 on Wednesday. The firm has a market cap of $35.68 billion, a PE ratio of 16.52, a PEG ratio of 0.70 and a beta of 2.70. The company has a debt-to-equity ratio of 2.58, a quick ratio of 0.30 and a current ratio of 0.34. The firm’s 50 day moving average price is $30.40 and its 200-day moving average price is $24.82. Carnival has a one year low of $15.07 and a one year high of $32.80.

Carnival (NYSE:CCL) last posted its earnings results on Tuesday, June 24th. The company reported $0.35 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.24 by $0.11. The company had revenue of $6.33 billion during the quarter, compared to analysts’ expectations of $6.20 billion. Carnival had a return on equity of 27.88% and a net margin of 9.72%.The firm’s quarterly revenue was up 9.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.11 earnings per share. Carnival has set its FY 2025 guidance at 1.970-1.970 EPS. Q3 2025 guidance at 1.300-1.300 EPS. On average, equities research analysts anticipate that Carnival will post 1.77 EPS for the current year.

Insider Buying and Selling

In other news, Director Sir Jonathon Band sold 12,500 shares of the business’s stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $29.75, for a total transaction of $371,875.00. Following the completion of the transaction, the director directly owned 64,406 shares of the company’s stock, valued at approximately $1,916,078.50. The trade was a 16.25% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 7.60% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in Carnival by 6.0% during the 2nd quarter. Vanguard Group Inc. now owns 126,663,493 shares of the company’s stock worth $3,561,777,000 after acquiring an additional 7,157,739 shares in the last quarter. State Street Corp grew its stake in shares of Carnival by 3.5% during the second quarter. State Street Corp now owns 45,523,890 shares of the company’s stock worth $1,280,132,000 after purchasing an additional 1,531,495 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Carnival by 7.4% during the second quarter. Geode Capital Management LLC now owns 27,617,014 shares of the company’s stock worth $773,398,000 after purchasing an additional 1,906,110 shares in the last quarter. Causeway Capital Management LLC purchased a new stake in Carnival during the 1st quarter worth about $518,816,000. Finally, Nuveen LLC purchased a new stake in Carnival during the 1st quarter worth about $432,718,000. Institutional investors and hedge funds own 67.19% of the company’s stock.

About Carnival

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.