Earnest Partners LLC Boosts Stock Position in Carnival Co. & plc (NYSE:CCL)

Earnest Partners LLC raised its position in Carnival Co. & plc (NYSE:CCL) by 12.5% during the first quarter, Holdings Channel.com reports. The firm owned 4,567,402 shares of the company’s stock after buying an additional 507,045 shares during the period. Earnest Partners LLC’s holdings in Carnival Co. & were worth $74,631,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Richardson Capital Management LLC acquired a new position in shares of Carnival Co. & in the first quarter valued at approximately $26,000. Friedenthal Financial purchased a new position in shares of Carnival Co. & during the 4th quarter worth $28,000. ICA Group Wealth Management LLC acquired a new stake in shares of Carnival Co. & during the fourth quarter worth $31,000. BNP Paribas purchased a new stake in shares of Carnival Co. & in the first quarter valued at $32,000. Finally, YHB Investment Advisors Inc. acquired a new position in Carnival Co. & in the first quarter valued at $34,000. 67.19% of the stock is owned by institutional investors and hedge funds.

Carnival Co. & Stock Down 0.1 %

Carnival Co. & stock traded down $0.02 during midday trading on Monday, hitting $17.25. 15,127,078 shares of the company were exchanged, compared to its average volume of 30,678,178. The company has a market cap of $19.36 billion, a PE ratio of 26.54 and a beta of 2.68. Carnival Co. & plc has a fifty-two week low of $10.84 and a fifty-two week high of $19.74. The company’s fifty day moving average price is $16.96 and its 200-day moving average price is $16.09. The company has a debt-to-equity ratio of 3.99, a current ratio of 0.28 and a quick ratio of 0.24.

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

Analyst Ratings Changes

CCL has been the topic of a number of research analyst reports. Citigroup raised their price target on Carnival Co. & from $18.00 to $22.00 and gave the stock a “buy” rating in a research note on Wednesday, June 26th. Wells Fargo & Company raised their target price on shares of Carnival Co. & from $22.00 to $23.00 and gave the stock an “overweight” rating in a research report on Friday, May 17th. Truist Financial upped their price target on shares of Carnival Co. & from $17.00 to $20.00 and gave the stock a “hold” rating in a research report on Tuesday, July 23rd. UBS Group lifted their price target on shares of Carnival Co. & from $20.00 to $21.00 and gave the company a “buy” rating in a report on Tuesday, May 14th. Finally, William Blair reissued an “outperform” rating on shares of Carnival Co. & in a research note on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $22.11.

Carnival Co. & 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.