Morgan Stanley Raises Carnival Co. & (NYSE:CCL) Price Target to $16.50

Carnival Co. & (NYSE:CCL) had its price target upped by Morgan Stanley from $15.00 to $16.50 in a research note published on Tuesday, Benzinga reports. They currently have an underweight rating on the stock.

Several other analysts also recently weighed in on the stock. Susquehanna reaffirmed a positive rating and issued a $22.00 target price on shares of Carnival Co. & in a report on Wednesday, June 26th. Citigroup boosted their target price on Carnival Co. & from $18.00 to $22.00 and gave the stock a buy rating in a research report on Wednesday, June 26th. Bank of America raised their price target on Carnival Co. & from $23.00 to $24.00 and gave the company a buy rating in a report on Thursday, June 27th. JPMorgan Chase & Co. upped their price objective on Carnival Co. & from $23.00 to $25.00 and gave the stock an overweight rating in a report on Wednesday, July 24th. Finally, Hsbc Global Res raised Carnival Co. & to a moderate sell rating in a report on Tuesday, September 3rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Carnival Co. & has an average rating of Moderate Buy and an average price target of $22.97.

Carnival Co. & Stock Performance

NYSE CCL opened at $18.02 on Tuesday. The business’s 50-day moving average price is $16.58 and its 200 day moving average price is $16.29. The company has a quick ratio of 0.24, a current ratio of 0.28 and a debt-to-equity ratio of 3.99. The firm has a market cap of $20.22 billion, a P/E ratio of 27.72 and a beta of 2.69. Carnival Co. & has a 52-week low of $10.84 and a 52-week high of $19.74.

Carnival Co. & (NYSE:CCL) last announced its earnings results on Monday, September 30th. The company reported $1.27 earnings per share for the quarter, beating the consensus estimate of $1.17 by $0.10. Carnival Co. & had a return on equity of 15.22% and a net margin of 3.86%. The company had revenue of $7.90 billion for the quarter, compared to the consensus estimate of $7.82 billion. During the same period last year, the business posted $0.86 EPS. The company’s revenue was up 15.2% on a year-over-year basis. On average, equities research analysts expect that Carnival Co. & will post 1.21 earnings per share for the current year.

Institutional Investors Weigh In On Carnival Co. &

Several hedge funds have recently modified their holdings of CCL. Barrow Hanley Mewhinney & Strauss LLC acquired a new position in Carnival Co. & in the 2nd quarter valued at $466,838,000. Marshall Wace LLP increased its stake in Carnival Co. & by 510.5% in the second quarter. Marshall Wace LLP now owns 10,331,092 shares of the company’s stock valued at $193,398,000 after purchasing an additional 8,638,865 shares during the last quarter. Renaissance Technologies LLC lifted its position in Carnival Co. & by 43.6% during the second quarter. Renaissance Technologies LLC now owns 9,585,200 shares of the company’s stock worth $179,435,000 after buying an additional 2,911,100 shares during the period. Point72 Asset Management L.P. boosted its stake in Carnival Co. & by 210.1% in the 4th quarter. Point72 Asset Management L.P. now owns 3,894,286 shares of the company’s stock worth $72,200,000 after buying an additional 2,638,564 shares during the last quarter. Finally, Goldentree Asset Management LP purchased a new stake in Carnival Co. & in the 1st quarter valued at about $31,917,000. 67.19% of the stock is owned by institutional investors and hedge funds.

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.