Carnival Co. & (NYSE:CCL) Shares Gap Up After Analyst Upgrade

Carnival Co. & plc (NYSE:CCLGet Free Report) gapped up before the market opened on Monday after Wells Fargo & Company raised their price target on the stock from $22.00 to $23.00. The stock had previously closed at $15.00, but opened at $15.39. Wells Fargo & Company currently has an overweight rating on the stock. Carnival Co. & shares last traded at $15.68, with a volume of 5,874,702 shares trading hands.

Other equities analysts also recently issued reports about the stock. JPMorgan Chase & Co. upped their price objective on shares of Carnival Co. & from $22.00 to $23.00 and gave the company an “overweight” rating in a research note on Thursday, March 28th. Stifel Nicolaus cut their price target on shares of Carnival Co. & from $26.00 to $25.00 and set a “buy” rating on the stock in a report on Thursday, March 28th. Susquehanna cut their price target on shares of Carnival Co. & from $23.00 to $22.00 and set a “positive” rating on the stock in a report on Monday, March 25th. Mizuho initiated coverage on shares of Carnival Co. & in a report on Tuesday, March 26th. They issued a “buy” rating and a $21.00 target price on the stock. Finally, Macquarie raised their target price on shares of Carnival Co. & from $22.00 to $24.00 and gave the stock an “outperform” rating in a report on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seventeen have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $21.58.

Read Our Latest Report on CCL

Institutional Trading of Carnival Co. &

Institutional investors and hedge funds have recently bought and sold shares of the stock. Friedenthal Financial bought a new stake in Carnival Co. & in the 4th quarter valued at $28,000. Richardson Capital Management LLC purchased a new position in shares of Carnival Co. & in the 1st quarter worth $26,000. ICA Group Wealth Management LLC purchased a new position in shares of Carnival Co. & in the 4th quarter worth $31,000. Massmutual Trust Co. FSB ADV boosted its stake in shares of Carnival Co. & by 67.2% during the 4th quarter. Massmutual Trust Co. FSB ADV now owns 1,838 shares of the company’s stock worth $34,000 after purchasing an additional 739 shares during the period. Finally, BNP Paribas purchased a new position in shares of Carnival Co. & during the 1st quarter worth about $32,000. 67.19% of the stock is currently owned by institutional investors.

Carnival Co. & Stock Performance

The company has a current ratio of 0.36, a quick ratio of 0.32 and a debt-to-equity ratio of 4.27. The business’s 50 day moving average is $15.31 and its 200 day moving average is $15.86. The stock has a market capitalization of $18.18 billion, a PE ratio of 62.29 and a beta of 2.53.

Carnival Co. & (NYSE:CCLGet Free Report) last released its quarterly earnings results on Wednesday, March 27th. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.18) by $0.04. Carnival Co. & had a net margin of 1.79% and a return on equity of 7.75%. The firm had revenue of $5.41 billion during the quarter, compared to analysts’ expectations of $5.42 billion. During the same period in the previous year, the company earned ($0.55) EPS. The firm’s revenue for the quarter was up 22.0% compared to the same quarter last year. On average, equities research analysts predict that Carnival Co. & plc will post 1.02 earnings per share for the current fiscal year.

Carnival Co. & Company Profile

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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.

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