Carnival (NYSE:CCL) Price Target Raised to $31.00

Key Points

• Truist Financial raised Carnival’s price target from $29 to $31 while keeping a hold rating, implying about 21.9% upside from the prior close.
• Carnival shares fell to $25.43 in Thursday trading, below both its 50-day and 200-day moving averages, with a market cap of $34.84 billion.
• The company recently beat quarterly EPS estimates, reporting $0.41 per share versus $0.34 expected, while revenue came in at $6.66 billion and rose 5.3% year over year.

Carnival (NYSE:CCL - Get Free Report) had its price target raised by equities researchers at Truist Financial from $29.00 to $31.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a "hold" rating on the stock. Truist Financial's price target indicates a potential upside of 21.88% from the stock's previous close.

Other equities research analysts have also recently issued research reports about the stock. Wall Street Zen cut shares of Carnival from a "buy" rating to a "hold" rating in a report on Saturday, March 28th. Argus set a $35.00 price objective on Carnival in a report on Friday, June 26th. UBS Group decreased their target price on Carnival from $38.00 to $35.00 and set a "buy" rating for the company in a research report on Monday, April 13th. Loop Capital began coverage on Carnival in a research note on Monday, June 1st. They issued a "buy" rating and a $36.00 target price on the stock. Finally, Susquehanna increased their price target on Carnival from $30.00 to $33.00 and gave the stock a "positive" rating in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $35.08.

Carnival Stock Performance

Shares of NYSE:CCL traded down $0.67 during midday trading on Thursday, reaching $25.43. The company had a trading volume of 9,493,780 shares, compared to its average volume of 24,949,729. The company's 50 day moving average price is $27.48 and its 200 day moving average price is $28.12. The company has a current ratio of 0.33, a quick ratio of 0.29 and a debt-to-equity ratio of 1.80. The stock has a market cap of $34.84 billion, a P/E ratio of 11.45, a P/E/G ratio of 1.15 and a beta of 2.32. Carnival has a 52-week low of $23.45 and a 52-week high of $34.03.

Carnival (NYSE:CCL - Get Free Report) last posted its quarterly earnings data on Tuesday, June 23rd. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.34 by $0.07. The business had revenue of $6.66 billion during the quarter, compared to the consensus estimate of $6.69 billion. Carnival had a net margin of 11.24% and a return on equity of 26.11%. The firm's quarterly revenue was up 5.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.35 earnings per share. Carnival has set its FY 2026 guidance at 2.220-2.220 EPS and its Q3 2026 guidance at 1.350-1.350 EPS. As a group, sell-side analysts anticipate that Carnival will post 2.23 EPS for the current fiscal year.

Insider Transactions at Carnival

In other Carnival news, insider Bettina Alejandra Deynes sold 43,058 shares of the business's stock in a transaction on Thursday, May 28th. The shares were sold at an average price of $28.10, for a total transaction of $1,209,929.80. Following the sale, the insider owned 69,238 shares of the company's stock, valued at $1,945,587.80. The trade was a 38.34% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 7.90% of the stock is owned by insiders.

Hedge Funds Weigh In On Carnival

Several hedge funds have recently made changes to their positions in CCL. BOCHK Asset Management Ltd purchased a new position in Carnival during the 4th quarter valued at about $25,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Carnival in the third quarter worth about $25,000. Lloyd Advisory Services LLC. bought a new position in shares of Carnival in the fourth quarter valued at approximately $26,000. Basecamp Wealth Advisors LLC boosted its position in shares of Carnival by 107.8% in the first quarter. Basecamp Wealth Advisors LLC now owns 1,045 shares of the company's stock valued at $27,000 after acquiring an additional 542 shares during the period. Finally, Newbridge Financial Services Group Inc. grew its stake in Carnival by 381.0% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 962 shares of the company's stock valued at $29,000 after acquiring an additional 762 shares in the last quarter. 67.19% of the stock is currently owned by hedge funds and other institutional investors.

About Carnival

Carnival Corporation NYSE: CCL is a global cruise operator that provides leisure travel services through a portfolio of passenger cruise brands. The company's core business is operating cruise ships that offer multi-night voyages and associated vacation services, including onboard accommodations, dining, entertainment, spa and wellness offerings, casinos, youth programs, and organized shore excursions. Carnival markets cruise vacations to a broad range of consumers, from value-focused travelers to premium and luxury segments, through differentiated brand positioning and onboard experiences.

Its operating structure comprises multiple well-known cruise brands that target distinct geographic and demographic markets.

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