Carnival Corporation $CCL Shares Purchased by Earnest Partners LLC

Key Points

• Earnest Partners LLC increased its stake in Carnival Corporation by 3.5% during the first quarter, now holding 4,577,860 shares worth approximately $89.4 million.
• Carnival reported a quarterly earnings per share of $0.35, surpassing estimates and demonstrating a year-over-year revenue increase of 9.5%.
• A significant portion, 67.19%, of Carnival's stock is owned by institutional investors and hedge funds, reflecting strong institutional interest in the company.

Earnest Partners LLC lifted its position in Carnival Corporation (NYSE:CCL - Free Report) by 3.5% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,577,860 shares of the company's stock after purchasing an additional 155,117 shares during the quarter. Earnest Partners LLC owned approximately 0.39% of Carnival worth $89,406,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in CCL. N.E.W. Advisory Services LLC acquired a new stake in Carnival during the 1st quarter worth approximately $25,000. Graybill Wealth Management LTD. purchased a new stake in Carnival during the first quarter worth $26,000. Measured Risk Portfolios Inc. purchased a new stake in shares of Carnival in the fourth quarter valued at about $29,000. Orion Capital Management LLC acquired a new stake in Carnival during the 4th quarter valued at $30,000. Finally, Zions Bancorporation National Association UT acquired a new stake in shares of Carnival during the first quarter valued at $35,000. 67.19% of the stock is owned by institutional investors and hedge funds.

Carnival Stock Performance

Shares of CCL opened at $31.89 on Wednesday. The company has a quick ratio of 0.30, a current ratio of 0.34 and a debt-to-equity ratio of 2.58. The firm has a market cap of $37.23 billion, a price-to-earnings ratio of 17.24, a PEG ratio of 0.70 and a beta of 2.70. Carnival Corporation has a 52-week low of $15.07 and a 52-week high of $31.91. The business's 50 day moving average is $28.85 and its two-hundred day moving average is $23.96.

Carnival (NYSE:CCL - Get Free Report) last announced its quarterly earnings data on Tuesday, June 24th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.11. The firm had revenue of $6.33 billion during the quarter, compared to analyst estimates of $6.20 billion. Carnival had a return on equity of 27.88% and a net margin of 9.72%.Carnival's quarterly revenue was up 9.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.11 earnings per share. Carnival has set its FY 2025 guidance at 1.970-1.970 EPS. Q3 2025 guidance at 1.300-1.300 EPS. Analysts forecast that Carnival Corporation will post 1.77 EPS for the current fiscal year.

Insider Activity

In other news, Director Sir Jonathon Band sold 12,500 shares of the firm's stock in a transaction dated Tuesday, August 5th. The shares were sold at an average price of $29.75, for a total value of $371,875.00. Following 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 position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 7.60% of the company's stock.

Analyst Ratings Changes

Several analysts have commented on the stock. Stifel Nicolaus lifted their target price on shares of Carnival from $33.00 to $34.00 and gave the stock a "buy" rating in a research note on Wednesday, June 25th. Barclays boosted their price objective on Carnival from $30.00 to $33.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 25th. 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. Truist Financial boosted their price objective on Carnival from $27.00 to $31.00 and gave the stock a "hold" rating in a research note on Monday, July 21st. Finally, Zacks Research lowered shares of Carnival from a "strong-buy" rating to a "hold" rating in a report on Monday, August 18th. Thirteen research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $30.71.

Carnival 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.

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