Stifel Nicolaus Issues Positive Forecast for Carnival (NYSE:CCL) Stock Price

Carnival (NYSE:CCL) had its target price lifted by Stifel Nicolaus from $33.00 to $34.00 in a research note issued to investors on Wednesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

A number of other research analysts have also issued reports on CCL. Truist Financial set a $27.00 target price on shares of Carnival in a research report on Monday. Mizuho increased their target price on shares of Carnival from $32.00 to $33.00 and gave the stock an “outperform” rating in a research report on Monday, March 24th. Susquehanna increased their price target on shares of Carnival from $27.00 to $30.00 and gave the stock a “positive” rating in a research report on Wednesday. Northcoast Research started coverage on shares of Carnival in a research report on Friday, April 25th. They set a “neutral” rating on the stock. Finally, Wall Street Zen upgraded shares of Carnival from a “hold” rating to a “buy” rating in a research report on Wednesday, May 14th. Nine analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $27.68.

Carnival Stock Performance

Shares of NYSE:CCL opened at $25.51 on Wednesday. The company’s 50 day moving average price is $21.89 and its two-hundred day moving average price is $22.83. Carnival has a 12-month low of $13.78 and a 12-month high of $28.72. The firm has a market cap of $29.76 billion, a PE ratio of 13.79, a PEG ratio of 0.57 and a beta of 2.58. The company has a quick ratio of 0.21, a current ratio of 0.34 and a debt-to-equity ratio of 2.58.

Carnival (NYSE:CCL) last announced its earnings results on Tuesday, June 24th. The company reported $0.35 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.11. Carnival had a net margin of 9.72% and a return on equity of 27.88%. The firm had revenue of $6.33 billion for the quarter, compared to analyst estimates of $6.20 billion. During the same quarter in the prior year, the business posted $0.11 EPS. The business’s revenue was up 9.5% compared to the same quarter last year. Equities research analysts predict that Carnival will post 1.77 earnings per share for the current year.

Hedge Funds Weigh In On Carnival

Several large investors have recently modified their holdings of the business. Private Advisor Group LLC increased its stake in Carnival by 26.6% in the fourth quarter. Private Advisor Group LLC now owns 86,837 shares of the company’s stock valued at $2,164,000 after purchasing an additional 18,269 shares in the last quarter. Concurrent Investment Advisors LLC bought a new stake in Carnival in the fourth quarter valued at $205,000. Wealthspire Advisors LLC bought a new stake in Carnival in the fourth quarter valued at $277,000. Union Bancaire Privee UBP SA bought a new stake in Carnival in the fourth quarter valued at $52,000. Finally, IFP Advisors Inc increased its stake in Carnival by 26.3% in the fourth quarter. IFP Advisors Inc now owns 7,599 shares of the company’s stock valued at $189,000 after purchasing an additional 1,580 shares in the last quarter. Institutional investors own 67.19% of the company’s stock.

Carnival Company Profile

Carnival Corp. engages in the operation of cruise ships. It operates through the following business segments: North America and Australia (NAA) Cruise, Europe and Asia (EA) Cruise Operations, Cruise Support, and Tour and Others. The North America and Australia (NAA) Cruise segment includes the Carnival Cruise Line, Holland America Line, Princess Cruises, and Seabourn.