Carnival (NYSE:CCL) Price Target Raised to $37.00 at Barclays

Key Points

• Carnival's price target has been increased to $37.00 by Barclays, indicating a potential upside of 18.63% from its previous close of $31.19 and maintaining an "overweight" rating on the stock.
• Bank of America and Citigroup have also raised their price targets for Carnival, with Bank of America setting it at $38.00, contributing to the stock's overall positive outlook among analysts.
• Carnival reported a quarterly earnings per share (EPS) of $0.35, surpassing estimates and showing a revenue increase of 9.5% year-over-year, reflecting strong operational performance.

Carnival (NYSE:CCL - Get Free Report) had its price objective increased by research analysts at Barclays from $33.00 to $37.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an "overweight" rating on the stock. Barclays's price target suggests a potential upside of 18.63% from the stock's previous close.

Other analysts have also issued research reports about the stock. Bank of America lifted their price target on shares of Carnival from $31.00 to $38.00 and gave the company a "buy" rating in a research report on Wednesday, July 23rd. Citigroup upped their price objective on shares of Carnival from $30.00 to $37.00 and gave the company a "buy" rating in a research note on Wednesday, July 16th. Zacks Research downgraded shares of Carnival from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 18th. Melius Research increased their target price on shares of Carnival from $30.00 to $36.00 and gave the company a "buy" rating in a report on Monday. Finally, Mizuho lifted their price objective on Carnival from $33.00 to $35.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 25th. Fifteen research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $31.63.

Carnival Stock Performance

NYSE CCL opened at $31.19 on Wednesday. The company has a debt-to-equity ratio of 2.58, a quick ratio of 0.30 and a current ratio of 0.34. Carnival has a fifty-two week low of $15.07 and a fifty-two week high of $32.80. The stock has a 50-day simple moving average of $30.27 and a two-hundred day simple moving average of $24.66. The firm has a market capitalization of $36.41 billion, a P/E ratio of 16.86, a PEG ratio of 0.70 and a beta of 2.70.

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 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 company had revenue of $6.33 billion for the quarter, compared to analysts' expectations of $6.20 billion. During the same period in the previous year, the firm posted $0.11 EPS. Carnival's revenue was up 9.5% compared to the same quarter last year. Carnival has set its FY 2025 guidance at 1.970-1.970 EPS. Q3 2025 guidance at 1.300-1.300 EPS. On average, equities analysts forecast that Carnival will post 1.77 earnings per share for the current year.

Insider Buying and Selling

In other news, Director Sir Jonathon Band sold 12,500 shares of the company's stock in a transaction that occurred on Tuesday, August 5th. The shares were sold at an average price of $29.75, for a total value of $371,875.00. Following the completion of the sale, the director directly owned 64,406 shares of the company's stock, valued at approximately $1,916,078.50. This represents a 16.25% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 7.60% of the company's stock.

Institutional Trading of Carnival

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Carnival by 6.0% during the second quarter. Vanguard Group Inc. now owns 126,663,493 shares of the company's stock valued at $3,561,777,000 after purchasing an additional 7,157,739 shares during the last quarter. State Street Corp increased its stake in shares of Carnival by 3.5% during the 2nd quarter. State Street Corp now owns 45,523,890 shares of the company's stock worth $1,280,132,000 after purchasing an additional 1,531,495 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Carnival by 7.4% during the 2nd quarter. Geode Capital Management LLC now owns 27,617,014 shares of the company's stock worth $773,398,000 after purchasing an additional 1,906,110 shares during the last quarter. Causeway Capital Management LLC acquired a new position in Carnival in the 1st quarter valued at $518,816,000. Finally, Nuveen LLC acquired a new position in Carnival in the 1st quarter valued at $432,718,000. 67.19% of the stock is 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.

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