Carnival (NYSE:CCL) Sets New 52-Week High - What's Next?

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

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on CCL shares. Morgan Stanley raised their price objective on Carnival from $21.00 to $24.00 and gave the company an "equal weight" rating in a research note on Thursday, June 26th. Mizuho raised their price target on Carnival from $33.00 to $35.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 25th. Macquarie decreased their price target on Carnival from $31.00 to $26.00 and set an "outperform" rating for the company in a research note on Friday, May 9th. BNP Paribas initiated coverage on Carnival in a research note on Thursday, March 27th. They set an "outperform" rating and a $26.00 price target for the company. Finally, Susquehanna raised their price target on Carnival from $27.00 to $30.00 and gave the stock a "positive" rating in a research note on Wednesday, June 25th. Seven analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $28.65.

Carnival Price Performance

The company has a current ratio of 0.34, a quick ratio of 0.30 and a debt-to-equity ratio of 2.58. The stock has a market cap of $33.62 billion, a price-to-earnings ratio of 15.57, a PEG ratio of 0.64 and a beta of 2.61. The stock has a 50-day moving average price of $23.76 and a two-hundred day moving average price of $22.99.

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

Hedge Funds Weigh In On Carnival

Several institutional investors and hedge funds have recently modified their holdings of CCL. Causeway Capital Management LLC acquired a new position in shares of Carnival in the 1st quarter valued at about $518,816,000. Nuveen LLC acquired a new position in shares of Carnival in the 1st quarter valued at about $432,718,000. FMR LLC lifted its holdings in shares of Carnival by 186.6% in the 4th quarter. FMR LLC now owns 9,898,906 shares of the company's stock valued at $246,681,000 after buying an additional 6,444,444 shares during the period. Nuveen Asset Management LLC lifted its holdings in shares of Carnival by 33.7% in the 4th quarter. Nuveen Asset Management LLC now owns 22,850,042 shares of the company's stock valued at $569,423,000 after buying an additional 5,761,489 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of Carnival by 4.0% in the 4th 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 in the last quarter. Institutional investors and hedge funds 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.