Focus Financial Network Inc. Makes New Investment in Carnival Corporation $CCL

Key Points

• Focus Financial Network Inc. has purchased a new position in Carnival Corporation, acquiring 8,494 shares valued at approximately $239,000 during the 2nd quarter.
• Research firms have raised their price targets for Carnival shares, with TD Cowen establishing a "buy" rating and a target price of $36.00, reflecting positive analyst sentiment toward the company.
• Carnival Corporation's stock is currently down 2.8%, with market performance data showing a twelve-month low of $15.07 and a high of $32.80.

Focus Financial Network Inc. purchased a new stake in Carnival Corporation (NYSE:CCL - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 8,494 shares of the company's stock, valued at approximately $239,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in CCL. Vanguard Group Inc. lifted its stake in shares of Carnival by 2.1% in the first quarter. Vanguard Group Inc. now owns 119,505,754 shares of the company's stock valued at $2,333,947,000 after buying an additional 2,410,188 shares during the period. Causeway Capital Management LLC bought a new stake in shares of Carnival in the first quarter valued at about $518,816,000. Nuveen LLC bought a new stake in shares of Carnival in the first quarter valued at about $432,718,000. Invesco Ltd. lifted its stake in shares of Carnival by 24.7% in the first quarter. Invesco Ltd. now owns 12,965,228 shares of the company's stock valued at $253,211,000 after buying an additional 2,566,148 shares during the period. Finally, Northern Trust Corp lifted its stake in shares of Carnival by 16.8% in the first quarter. Northern Trust Corp now owns 12,425,707 shares of the company's stock valued at $242,674,000 after buying an additional 1,787,015 shares during the period. 67.19% of the stock is owned by institutional investors and hedge funds.

Carnival Price Performance

Shares of NYSE:CCL traded up $0.22 during trading on Monday, reaching $30.74. The stock had a trading volume of 17,058,638 shares, compared to its average volume of 16,631,050. The company has a debt-to-equity ratio of 2.58, a current ratio of 0.34 and a quick ratio of 0.30. The stock has a market capitalization of $35.88 billion, a PE ratio of 16.61, a P/E/G ratio of 0.68 and a beta of 2.70. The business's 50-day moving average price is $30.40 and its 200 day moving average price is $24.87. Carnival Corporation has a 52 week low of $15.07 and a 52 week high of $32.80.

Carnival (NYSE:CCL - Get Free Report) last issued its quarterly earnings results on Tuesday, June 24th. The company reported $0.35 earnings per share for the quarter, beating analysts' consensus estimates of $0.24 by $0.11. The business had revenue of $6.33 billion during the quarter, compared to analyst estimates of $6.20 billion. Carnival had a net margin of 9.72% and a return on equity of 27.88%. Carnival's revenue for the quarter was up 9.5% compared to the same quarter last year. During the same quarter last year, the business posted $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. As a group, equities analysts predict that Carnival Corporation will post 1.77 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Truist Financial increased their target price on shares of Carnival from $27.00 to $31.00 and gave the company a "hold" rating in a research note on Monday, July 21st. Mizuho increased their target price on shares of Carnival from $33.00 to $35.00 and gave the company an "outperform" rating in a research note on Wednesday, June 25th. Morgan Stanley increased their target price on shares of Carnival from $21.00 to $24.00 and gave the company an "equal weight" rating in a research note on Thursday, June 26th. Citigroup raised their price target on shares of Carnival from $30.00 to $37.00 and gave the stock a "buy" rating in a research note on Wednesday, July 16th. Finally, JPMorgan Chase & Co. raised their price target on shares of Carnival from $34.00 to $39.00 and gave the stock an "overweight" rating in a research note on Monday, September 15th. Fifteen analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $31.63.

Insider Buying and Selling at Carnival

In related news, Director Sir Jonathon Band sold 12,500 shares of the firm'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 owned 64,406 shares of the company's stock, valued at $1,916,078.50. This trade represents a 16.25% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 7.60% of the stock is currently owned by corporate insiders.

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.