First National Trust Co Makes New Investment in Carnival Corporation (NYSE:CCL)

Key Points

• First National Trust Co has acquired a new stake in Carnival Corporation, purchasing 19,117 shares valued at approximately $373,000 in the first quarter.
• Carnival's recent earnings report showed positive results with $0.35 earnings per share, exceeding expectations and marking a 9.5% increase in revenue compared to the previous year.
• Analysts have a generally positive outlook on Carnival stock, with multiple firms upgrading ratings and price targets, leading to an average price target of $30.71 and a rating of "Moderate Buy."

First National Trust Co acquired a new stake in shares of Carnival Corporation (NYSE:CCL - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 19,117 shares of the company's stock, valued at approximately $373,000.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in Carnival in the fourth quarter worth about $59,486,000. Beck Bode LLC bought a new stake in shares of Carnival during the fourth quarter valued at approximately $5,715,000. Itau Unibanco Holding S.A. purchased a new position in Carnival during the fourth quarter valued at approximately $5,113,000. The Manufacturers Life Insurance Company increased its holdings in Carnival by 2.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 627,132 shares of the company's stock valued at $15,628,000 after buying an additional 16,529 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. increased its holdings in Carnival by 31.0% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 122,160 shares of the company's stock valued at $2,427,000 after buying an additional 28,890 shares during the period. Hedge funds and other institutional investors own 67.19% of the company's stock.

Carnival Stock Down 1.3%

CCL stock opened at $29.75 on Friday. The firm has a 50-day moving average of $26.59 and a two-hundred day moving average of $23.55. The company has a market cap of $34.72 billion, a price-to-earnings ratio of 16.08, a PEG ratio of 0.67 and a beta of 2.61. The company has a current ratio of 0.34, a quick ratio of 0.30 and a debt-to-equity ratio of 2.58. Carnival Corporation has a 12 month low of $13.78 and a 12 month high of $31.01.

Carnival (NYSE:CCL - Get Free Report) last issued its quarterly earnings data on Tuesday, June 24th. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.24 by $0.11. The company 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%. The firm's revenue for the quarter was up 9.5% compared to the same quarter last year. During the same period in the prior year, the business posted $0.11 earnings per share. As a group, analysts forecast that Carnival Corporation will post 1.77 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

CCL has been the topic of several analyst reports. HSBC raised shares of Carnival from a "reduce" rating to a "hold" rating and set a $24.00 price target on the stock in a report on Friday, May 16th. Susquehanna boosted their price objective on shares of Carnival from $27.00 to $30.00 and gave the company a "positive" rating in a report on Wednesday, June 25th. Barclays upped their price target on shares of Carnival from $30.00 to $33.00 and gave the company an "overweight" rating in a report on Wednesday, June 25th. Bank of America upped their price target on shares of Carnival from $31.00 to $38.00 and gave the company a "buy" rating in a report on Wednesday, July 23rd. Finally, Wall Street Zen upgraded shares of Carnival from a "hold" rating to a "buy" rating in a research report on Wednesday, May 14th. Seven investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock currently 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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