Carnival (NYSE:CCL) Sets New 1-Year High - What's Next?

Carnival Corporation (NYSE:CCL - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $30.46 and last traded at $29.73, with a volume of 9822066 shares traded. The stock had previously closed at $29.96.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on CCL. Bank of America lifted their target price on Carnival from $30.00 to $31.00 and gave the stock a "buy" rating in a report on Wednesday, June 25th. Northcoast Research assumed coverage on Carnival in a research report on Friday, April 25th. They issued a "neutral" rating for the company. Mizuho raised their target price on Carnival from $33.00 to $35.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 25th. Hsbc Global Res raised Carnival from a "moderate sell" rating to a "hold" rating in a research report on Friday, May 16th. Finally, HSBC raised Carnival from a "reduce" rating to a "hold" rating and set a $24.00 price objective for the company in a research report on Friday, May 16th. Seven equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $28.65.

Carnival Stock Up 1.0%

The company has a debt-to-equity ratio of 2.58, a current ratio of 0.34 and a quick ratio of 0.30. The stock has a market capitalization of $33.98 billion, a P/E ratio of 15.73, a price-to-earnings-growth ratio of 0.64 and a beta of 2.61. The firm has a 50 day moving average of $23.97 and a 200-day moving average of $23.03.

Carnival (NYSE:CCL - Get Free Report) last issued its quarterly earnings results on Tuesday, June 24th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.11. Carnival had a return on equity of 27.88% and a net margin of 9.72%. The firm had revenue of $6.33 billion for the quarter, compared to analyst estimates of $6.20 billion. During the same period in the previous year, the company posted $0.11 earnings per share. The company's quarterly revenue was up 9.5% compared to the same quarter last year. On average, equities research analysts expect that Carnival Corporation will post 1.77 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Carnival

Large investors have recently modified their holdings of the stock. Oliver Lagore Vanvalin Investment Group acquired a new position in shares of Carnival in the 2nd quarter worth approximately $28,000. Measured Risk Portfolios Inc. acquired a new position in shares of Carnival in the 4th quarter worth approximately $29,000. Orion Capital Management LLC acquired a new position in shares of Carnival in the 4th quarter worth approximately $30,000. N.E.W. Advisory Services LLC acquired a new position in Carnival during the 1st quarter worth $25,000. Finally, Graybill Wealth Management LTD. acquired a new position in Carnival during the 1st quarter worth $26,000. 67.19% of the stock is currently owned by institutional investors.

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.