Barclays Boosts Carnival (NYSE:CCL) Price Target to $33.00

Carnival (NYSE:CCL) had its price target lifted by analysts at Barclays from $30.00 to $33.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the stock. Barclays‘s price objective would suggest a potential upside of 25.83% from the company’s previous close.

A number of other equities research analysts have also recently weighed in on CCL. Macquarie decreased their price objective on Carnival from $31.00 to $26.00 and set an “outperform” rating for the company in a research note on Friday, May 9th. William Blair restated an “outperform” rating on shares of Carnival in a research note on Monday, March 10th. Truist Financial set a $27.00 price objective on Carnival in a research note on Monday. Tigress Financial restated a “buy” rating on shares of Carnival in a research note on Wednesday, March 26th. Finally, Hsbc Global Res raised Carnival from a “moderate sell” rating to a “hold” rating in a research report on Friday, May 16th. Eight research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $28.33.

Carnival Price Performance

Shares of CCL stock opened at $26.23 on Wednesday. The company has a current ratio of 0.34, a quick ratio of 0.21 and a debt-to-equity ratio of 2.58. The stock has a market capitalization of $30.60 billion, a price-to-earnings ratio of 14.18, a P/E/G ratio of 0.57 and a beta of 2.58. Carnival has a twelve month low of $13.78 and a twelve month high of $28.72. The stock has a fifty day simple moving average of $22.05 and a two-hundred day simple moving average of $22.83.

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

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CCL. Causeway Capital Management LLC acquired a new position in shares of Carnival in the first quarter valued at about $518,816,000. Nuveen LLC acquired a new position in shares of Carnival in the first quarter valued at about $432,718,000. FMR LLC increased its holdings in shares of Carnival by 186.6% in the fourth quarter. FMR LLC now owns 9,898,906 shares of the company’s stock valued at $246,681,000 after purchasing an additional 6,444,444 shares during the period. Nuveen Asset Management LLC increased its holdings in shares of Carnival by 33.7% in the fourth quarter. Nuveen Asset Management LLC now owns 22,850,042 shares of the company’s stock valued at $569,423,000 after purchasing an additional 5,761,489 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of Carnival by 4.0% in the fourth quarter. Vanguard Group Inc. now owns 117,095,566 shares of the company’s stock valued at $2,918,022,000 after purchasing an additional 4,458,329 shares during the period. 67.19% of the stock is owned by institutional investors and hedge funds.

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.