Bank of America Issues Positive Forecast for Carnival Co. & (NYSE:CCL) Stock Price

Carnival Co. & (NYSE:CCL) had its target price increased by Bank of America from $24.00 to $28.00 in a report published on Wednesday morning,Benzinga reports. Bank of America currently has a buy rating on the stock.

CCL has been the subject of a number of other reports. Morgan Stanley raised their price objective on Carnival Co. & from $15.00 to $16.50 and gave the stock an “underweight” rating in a research report on Tuesday, October 1st. Citigroup raised their price target on shares of Carnival Co. & from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Mizuho upped their price objective on shares of Carnival Co. & from $25.00 to $26.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Stifel Nicolaus lifted their target price 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. Finally, Barclays upped their price target on shares of Carnival Co. & from $25.00 to $26.00 and gave the company an “overweight” rating in a research report on Tuesday, October 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $23.78.

Carnival Co. & Price Performance

Shares of NYSE CCL opened at $24.31 on Wednesday. The company has a 50 day simple moving average of $20.31 and a 200 day simple moving average of $17.64. The company has a debt-to-equity ratio of 3.10, a current ratio of 0.30 and a quick ratio of 0.26. Carnival Co. & has a 1 year low of $13.78 and a 1 year high of $24.99. The firm has a market cap of $28.06 billion, a PE ratio of 21.71 and a beta of 2.66.

Carnival Co. & (NYSE:CCL) last released its quarterly earnings results on Monday, September 30th. The company reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.17 by $0.10. Carnival Co. & had a net margin of 6.39% and a return on equity of 22.30%. The firm had revenue of $7.90 billion during the quarter, compared to the consensus estimate of $7.82 billion. During the same quarter last year, the firm earned $0.86 earnings per share. The company’s revenue for the quarter was up 15.2% on a year-over-year basis. On average, research analysts forecast that Carnival Co. & will post 1.33 EPS for the current year.

Insiders Place Their Bets

In related news, Director Sir Jonathon Band sold 17,500 shares of the company’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $21.72, for a total value 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 21.01 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 11.00% of the company’s stock.

Institutional Trading of Carnival Co. &

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its holdings in shares of Carnival Co. & by 3.5% in the third quarter. Geode Capital Management LLC now owns 24,027,160 shares of the company’s stock valued at $442,515,000 after purchasing an additional 811,692 shares in the last quarter. M&T Bank Corp lifted its stake in Carnival Co. & by 7.8% during the 3rd quarter. M&T Bank Corp now owns 59,628 shares of the company’s stock valued at $1,102,000 after acquiring an additional 4,311 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its holdings in Carnival Co. & by 1.9% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 295,330 shares of the company’s stock worth $5,458,000 after acquiring an additional 5,369 shares during the last quarter. Orion Portfolio Solutions LLC purchased a new stake in shares of Carnival Co. & in the third quarter valued at about $260,000. Finally, National Bank of Canada FI lifted its position in shares of Carnival Co. & by 53.5% during the third quarter. National Bank of Canada FI now owns 613,803 shares of the company’s stock valued at $11,343,000 after purchasing an additional 213,841 shares in the last quarter. 67.19% of the stock is owned by institutional investors.

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.