Carnival (NYSE:CCL) Price Target Raised to $30.00

Carnival (NYSE:CCL - Free Report) had its price objective lifted by Susquehanna from $27.00 to $30.00 in a research note issued to investors on Wednesday,Benzinga reports. They currently have a positive rating on the stock.

Other equities analysts have also recently issued research reports about the stock. Hsbc Global Res upgraded shares of Carnival from a "moderate sell" rating to a "hold" rating in a research report on Friday, May 16th. Stifel Nicolaus set a $34.00 price objective on Carnival and gave the stock a "buy" rating in a report on Monday. Mizuho increased their target price on Carnival from $32.00 to $33.00 and gave the company an "outperform" rating in a report on Monday, March 24th. Loop Capital restated a "hold" rating and set a $22.00 price target on shares of Carnival in a research report on Monday. Finally, Bank of America boosted their price objective on Carnival from $30.00 to $31.00 and gave the company a "buy" rating in a research report on Wednesday. Nine equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Carnival currently has an average rating of "Moderate Buy" and a consensus price target of $27.84.

Carnival Price Performance

Shares of Carnival stock traded up $0.75 on Wednesday, hitting $26.23. 29,065,011 shares of the company traded hands, compared to its average volume of 25,181,300. Carnival has a 12-month low of $13.78 and a 12-month high of $28.72. 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 company has a market cap of $30.60 billion, a P/E ratio of 14.18, a P/E/G ratio of 0.57 and a beta of 2.58. The firm's 50-day simple moving average is $21.89 and its 200 day simple moving average is $22.83.

Carnival (NYSE:CCL - Get Free Report) last posted its quarterly earnings data 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. 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 company's revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the prior year, the business earned $0.11 EPS. Analysts expect that Carnival will post 1.77 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Carnival

A number of institutional investors have recently added to or reduced their stakes in the company. Illinois Municipal Retirement Fund grew its holdings in Carnival by 153.4% in the fourth quarter. Illinois Municipal Retirement Fund now owns 336,502 shares of the company's stock worth $8,386,000 after purchasing an additional 203,710 shares during the period. Private Advisor Group LLC grew its stake in shares of Carnival by 26.6% in the 4th quarter. Private Advisor Group LLC now owns 86,837 shares of the company's stock worth $2,164,000 after buying an additional 18,269 shares during the last quarter. Norges Bank bought a new position in Carnival during the 4th quarter valued at approximately $59,486,000. Charles Schwab Investment Management Inc. boosted its holdings in Carnival by 3.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 6,249,810 shares of the company's stock worth $155,745,000 after acquiring an additional 223,195 shares in the last quarter. Finally, Beck Bode LLC bought a new stake in Carnival in the fourth quarter worth $5,715,000. Institutional investors own 67.19% of the company's stock.

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.