Bank of America Forecasts Strong Price Appreciation for Carnival Co. & (NYSE:CCL) Stock

Carnival Co. & (NYSE:CCL - Free Report) had its price objective upped by Bank of America from $24.00 to $28.00 in a report issued on Wednesday,Benzinga reports. They currently have a buy rating on the stock.

Other research analysts have also issued reports about the stock. JPMorgan Chase & Co. upped their price objective on shares of Carnival Co. & from $23.00 to $25.00 and gave the stock an "overweight" rating in a report on Wednesday, July 24th. Citigroup increased their price target on shares of Carnival Co. & from $25.00 to $28.00 and gave the stock a "buy" rating in a research note on Wednesday, October 9th. Tigress Financial increased their price target on shares of Carnival Co. & from $25.00 to $28.00 and gave the stock a "buy" rating in a research note on Monday, October 7th. Morgan Stanley increased their price target on shares of Carnival Co. & from $15.00 to $16.50 and gave the stock an "underweight" rating in a research note on Tuesday, October 1st. Finally, Stifel Nicolaus increased their price target on shares of Carnival Co. & from $25.00 to $27.00 and gave the stock a "buy" rating in a research note on Friday, September 20th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, Carnival Co. & currently has a consensus rating of "Moderate Buy" and an average price target of $23.78.

Carnival Co. & Trading Down 0.2 %

Carnival Co. & stock traded down $0.04 during trading hours on Wednesday, reaching $24.55. The company had a trading volume of 17,549,653 shares, compared to its average volume of 29,659,488. The firm has a market cap of $28.33 billion, a price-to-earnings ratio of 21.96 and a beta of 2.66. Carnival Co. & has a 12-month low of $13.33 and a 12-month high of $24.83. The company has a debt-to-equity ratio of 3.10, a current ratio of 0.30 and a quick ratio of 0.26. The company has a 50-day moving average price of $19.81 and a 200 day moving average price of $17.48.

Carnival Co. & (NYSE:CCL - Get Free Report) last posted its quarterly earnings results on Monday, September 30th. The company reported $1.27 EPS for the quarter, beating analysts' consensus estimates of $1.17 by $0.10. The company had revenue of $7.90 billion during the quarter, compared to analyst estimates of $7.82 billion. Carnival Co. & had a net margin of 6.39% and a return on equity of 22.30%. The firm's revenue was up 15.2% compared to the same quarter last year. During the same period in the prior year, the business posted $0.86 EPS. Equities analysts forecast that Carnival Co. & will post 1.33 earnings per share for the current year.

Insider Activity

In other news, Director Sir Jonathon Band sold 17,500 shares of the stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $21.72, for a total transaction of $380,100.00. Following the sale, the director now owns 65,789 shares in the company, valued at $1,428,937.08. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 11.00% of the company's stock.

Institutional Investors Weigh In On Carnival Co. &

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Barrow Hanley Mewhinney & Strauss LLC purchased a new stake in Carnival Co. & in the second quarter worth approximately $466,838,000. Marshall Wace LLP raised its position in Carnival Co. & by 510.5% in the second quarter. Marshall Wace LLP now owns 10,331,092 shares of the company's stock worth $193,398,000 after acquiring an additional 8,638,865 shares during the period. Renaissance Technologies LLC raised its position in Carnival Co. & by 43.6% in the second quarter. Renaissance Technologies LLC now owns 9,585,200 shares of the company's stock worth $179,435,000 after acquiring an additional 2,911,100 shares during the period. Mizuho Securities USA LLC raised its position in Carnival Co. & by 8,431.1% in the third 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. Finally, Dimensional Fund Advisors LP raised its position in Carnival Co. & by 8.8% in the second quarter. Dimensional Fund Advisors LP now owns 5,846,144 shares of the company's stock worth $109,444,000 after acquiring an additional 473,848 shares during the period. Hedge funds and other institutional investors own 67.19% of the company's stock.

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.