Bank of America Raises Carnival (NYSE:CCL) Price Target to $31.00

Carnival (NYSE:CCL - Free Report) had its target price hoisted by Bank of America from $30.00 to $31.00 in a report published on Wednesday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.

CCL has been the topic of a number of other research reports. Northcoast Research started coverage on shares of Carnival in a research note on Friday, April 25th. They issued a "neutral" rating on the stock. HSBC upgraded Carnival from a "reduce" rating to a "hold" rating and set a $24.00 price objective on the stock in a research note on Friday, May 16th. BNP Paribas began coverage on Carnival in a research note on Thursday, March 27th. They issued an "outperform" rating and a $26.00 price target on the stock. Hsbc Global Res raised Carnival from a "moderate sell" rating to a "hold" rating in a report on Friday, May 16th. Finally, William Blair restated an "outperform" rating on shares of Carnival in a research note on Monday, March 10th. Nine analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $27.68.

Carnival Stock Performance

Shares of NYSE:CCL traded down $0.19 during trading on Wednesday, hitting $25.51. 27,520,801 shares of the stock were exchanged, compared to its average volume of 25,606,519. The company has a market capitalization of $29.76 billion, a price-to-earnings ratio of 17.01, a price-to-earnings-growth ratio of 0.56 and a beta of 2.58. The company has a debt-to-equity ratio of 2.78, a quick ratio of 0.21 and a current ratio of 0.26. Carnival has a 1-year low of $13.78 and a 1-year high of $28.72. The company's fifty day simple moving average is $21.73 and its 200-day simple moving average is $22.81.

Carnival (NYSE:CCL - Get Free Report) last issued its earnings results on Tuesday, June 24th. The company reported $0.35 EPS for the quarter, topping the consensus estimate 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 26.53% and a net margin of 8.07%. Carnival's quarterly revenue was up 9.5% compared to the same quarter last year. During the same period last year, the business earned $0.11 earnings per share. Sell-side analysts expect that Carnival will post 1.77 EPS for the current fiscal year.

Institutional Trading of Carnival

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. N.E.W. Advisory Services LLC bought a new position in shares of Carnival in the 1st quarter valued at about $25,000. Graybill Wealth Management LTD. acquired a new position in Carnival in the first quarter valued at approximately $26,000. Measured Risk Portfolios Inc. bought a new position in Carnival in the fourth quarter valued at approximately $29,000. Orion Capital Management LLC acquired a new stake in Carnival during the 4th quarter worth $30,000. Finally, Banque Transatlantique SA bought a new stake in shares of Carnival during the 1st quarter valued at $33,000. 67.19% of the stock is currently owned by institutional investors and hedge funds.

About Carnival

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.