Carnival (NYSE:CCL) Reaches New 12-Month High - Time to Buy?

Key Points

• Carnival Corporation's stock price reached a new 52-week high of $32.80 amid strong trading volume, closing at $32.39.
• Multiple analysts have upgraded Carnival's stock ratings, with Citigroup and Bank of America setting new price targets of $37.00 and $38.00 respectively, indicating a consensus "Moderate Buy" rating.
• Carnival reported $6.33 billion in revenue for the last quarter, exceeding estimates, and set a FY 2025 earnings guidance at 1.970 EPS.

Carnival Corporation (NYSE:CCL - Get Free Report)'s stock price hit a new 52-week high on Thursday . The company traded as high as $32.80 and last traded at $32.39, with a volume of 15982238 shares trading hands. The stock had previously closed at $31.36.

Analysts Set New Price Targets

CCL has been the topic of a number of analyst reports. Hsbc Global Res upgraded Carnival from a "moderate sell" rating to a "hold" rating in a research report on Friday, May 16th. Barclays upped their price target on Carnival from $30.00 to $33.00 and gave the company an "overweight" rating in a research report on Wednesday, June 25th. Loop Capital reissued a "hold" rating and issued a $22.00 price objective on shares of Carnival in a research note on Monday, June 23rd. Citigroup boosted their price objective on Carnival from $30.00 to $37.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. Finally, Bank of America boosted their price objective on Carnival from $31.00 to $38.00 and gave the stock a "buy" rating in a research note on Wednesday, July 23rd. Thirteen equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat, Carnival presently has a consensus rating of "Moderate Buy" and an average target price of $30.71.

Carnival Stock Up 3.6%

The firm has a 50 day moving average price of $30.10 and a 200-day moving average price of $24.44. The firm has a market cap of $37.94 billion, a price-to-earnings ratio of 17.57, a price-to-earnings-growth ratio of 0.71 and a beta of 2.70. The company has a debt-to-equity ratio of 2.58, a current ratio of 0.34 and a quick ratio of 0.30.

Carnival (NYSE:CCL - Get Free Report) last announced its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $6.20 billion. During the same period in the prior year, the company earned $0.11 earnings per share. The company's revenue for the quarter 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. As a group, equities analysts predict that Carnival Corporation will post 1.77 EPS for the current fiscal year.

Insider Activity

In related news, Director Sir Jonathon Band sold 12,500 shares of the stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $29.75, for a total transaction of $371,875.00. Following the completion of the transaction, the director directly owned 64,406 shares in the company, valued at approximately $1,916,078.50. This trade represents a 16.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 7.60% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of CCL. N.E.W. Advisory Services LLC bought a new position in shares of Carnival during the first quarter worth about $25,000. Evolution Wealth Management Inc. bought a new position in shares of Carnival during the second quarter worth about $25,000. Graybill Wealth Management LTD. bought a new position in shares of Carnival during the first quarter worth about $26,000. Oliver Lagore Vanvalin Investment Group acquired a new position in Carnival during the second quarter valued at approximately $28,000. Finally, Measured Risk Portfolios Inc. acquired a new position in Carnival during the fourth quarter valued at approximately $29,000. 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.

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