First National Trust Co Purchases Shares of 19,117 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 position in shares of Carnival Corporation (NYSE:CCL - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 19,117 shares of the company's stock, valued at approximately $373,000.

Other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Carnival in the 4th quarter valued at $59,486,000. Beck Bode LLC acquired a new position in shares of Carnival in the 4th quarter valued at $5,715,000. Itau Unibanco Holding S.A. acquired a new position in shares of Carnival in the 4th quarter valued at $5,113,000. The Manufacturers Life Insurance Company raised its stake in shares of Carnival by 2.7% in the 4th 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 in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Carnival by 31.0% in the 1st 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 in the last quarter. 67.19% of the stock is currently owned by institutional investors and hedge funds.

Carnival Trading Down 1.5%

Carnival stock traded down $0.44 during midday trading on Tuesday, hitting $29.29. 8,240,299 shares of the stock were exchanged, compared to its average volume of 24,310,730. The company has a fifty day simple moving average of $26.87 and a two-hundred day simple moving average of $23.59. Carnival Corporation has a 52 week low of $13.95 and a 52 week high of $31.01. The stock has a market capitalization of $34.19 billion, a PE ratio of 15.83, a P/E/G ratio of 0.65 and a beta of 2.70. The company has a quick ratio of 0.30, a current ratio of 0.34 and a debt-to-equity ratio of 2.58.

Carnival (NYSE:CCL - Get Free Report) last released 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. Carnival had a net margin of 9.72% and a return on equity of 27.88%. The business had revenue of $6.33 billion for the quarter, compared to analyst estimates of $6.20 billion. During the same quarter last year, the firm earned $0.11 EPS. Carnival's quarterly revenue was up 9.5% compared to the same quarter last year. Equities research analysts anticipate that Carnival Corporation will post 1.77 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

CCL has been the subject of a number of recent analyst reports. Stifel Nicolaus increased their target price on shares of Carnival from $33.00 to $34.00 and gave the stock a "buy" rating in a research report on Wednesday, June 25th. TD Cowen initiated coverage on shares of Carnival in a research report on Tuesday, July 22nd. They set a "buy" rating and a $36.00 target price for the company. Macquarie decreased their price objective on shares of Carnival from $31.00 to $26.00 and set an "outperform" rating on the stock in a report on Friday, May 9th. Hsbc Global Res raised shares of Carnival from a "moderate sell" rating to a "hold" rating in a report on Friday, May 16th. Finally, Barclays increased their price objective on shares of Carnival from $30.00 to $33.00 and gave the stock an "overweight" rating in a report on Wednesday, June 25th. Seven research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to data from MarketBeat, Carnival has a consensus rating of "Moderate Buy" and an average target price 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.