Truist Financial Raises Carnival Co. & (NYSE:CCL) Price Target to $20.00

Carnival Co. & (NYSE:CCL) had its target price hoisted by Truist Financial from $17.00 to $20.00 in a research report report published on Tuesday morning, Benzinga reports. They currently have a hold rating on the stock.

A number of other research analysts have also commented on CCL. Wells Fargo & Company upped their price target on Carnival Co. & from $22.00 to $23.00 and gave the stock an overweight rating in a report on Friday, May 17th. JPMorgan Chase & Co. raised their price target on shares of Carnival Co. & from $22.00 to $23.00 and gave the stock an overweight rating in a research report on Thursday, March 28th. Barclays upped their price objective on shares of Carnival Co. & from $24.00 to $25.00 and gave the company an overweight rating in a research report on Thursday, March 28th. Deutsche Bank Aktiengesellschaft lifted their target price on Carnival Co. & from $18.00 to $19.00 and gave the stock a hold rating in a research report on Wednesday, June 26th. Finally, Argus upped their price target on Carnival Co. & from $20.00 to $25.00 and gave the company a buy rating in a report on Thursday, June 27th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat.com, Carnival Co. & presently has an average rating of Moderate Buy and a consensus price target of $22.11.

Carnival Co. & Stock Performance

CCL stock traded down $0.55 during midday trading on Tuesday, hitting $18.52. 14,895,227 shares of the company traded hands, compared to its average volume of 30,730,293. The business has a 50 day simple moving average of $16.81 and a 200-day simple moving average of $16.09. The company has a quick ratio of 0.24, a current ratio of 0.28 and a debt-to-equity ratio of 3.99. Carnival Co. & has a twelve month low of $10.84 and a twelve month high of $19.74. The stock has a market capitalization of $20.79 billion, a price-to-earnings ratio of 28.88 and a beta of 2.68.

Carnival Co. & (NYSE:CCL) last released its quarterly earnings results on Tuesday, June 25th. The company reported $0.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.12. Carnival Co. & had a net margin of 3.86% and a return on equity of 15.22%. The company had revenue of $5.78 billion during the quarter, compared to analysts’ expectations of $5.68 billion. During the same period in the prior year, the company earned ($0.31) earnings per share. The business’s quarterly revenue was up 17.7% compared to the same quarter last year. As a group, equities research analysts predict that Carnival Co. & will post 1.18 earnings per share for the current year.

Hedge Funds Weigh In On Carnival Co. &

Several institutional investors have recently added to or reduced their stakes in CCL. Point72 Asset Management L.P. increased its holdings in shares of Carnival Co. & by 210.1% during the fourth 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 in the last quarter. Norges Bank bought a new stake in Carnival Co. & during the 4th quarter worth approximately $40,236,000. Goldentree Asset Management LP acquired a new stake in Carnival Co. & during the 1st quarter valued at $31,917,000. International Assets Investment Management LLC raised its position in Carnival Co. & by 1,589.4% in the 4th quarter. International Assets Investment Management LLC now owns 1,789,351 shares of the company’s stock valued at $331,750,000 after purchasing an additional 1,683,434 shares during the last quarter. Finally, Canada Pension Plan Investment Board acquired a new position in Carnival Co. & in the first quarter worth $27,302,000. 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.