Janney Montgomery Scott LLC boosted its stake in Carnival Corporation (NYSE:CCL - Free Report) by 50.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 554,218 shares of the company's stock after acquiring an additional 184,949 shares during the period. Janney Montgomery Scott LLC's holdings in Carnival were worth $10,824,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in the stock. Measured Risk Portfolios Inc. bought a new stake in shares of Carnival during the 4th quarter valued at about $29,000. Orion Capital Management LLC purchased a new stake in Carnival in the fourth quarter worth about $30,000. Millstone Evans Group LLC bought a new stake in Carnival during the 4th quarter valued at approximately $34,000. 1620 Investment Advisors Inc. purchased a new position in shares of Carnival during the 4th quarter worth approximately $42,000. Finally, Ossiam bought a new position in shares of Carnival in the 4th quarter worth approximately $46,000. 67.19% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research firms recently weighed in on CCL. Citigroup lifted their price target on Carnival from $25.00 to $28.00 and gave the company a "buy" rating in a research report on Thursday, June 5th. Barclays restated an "overweight" rating and set a $30.00 target price (up previously from $26.00) on shares of Carnival in a report on Tuesday. BNP Paribas initiated coverage on shares of Carnival in a research report on Thursday, March 27th. They set an "outperform" rating and a $26.00 price target for the company. Morgan Stanley upgraded shares of Carnival from an "underweight" rating to an "equal weight" rating and cut their price objective for the stock from $25.00 to $21.00 in a report on Thursday, April 10th. Finally, Stifel Nicolaus lifted their target price on shares of Carnival from $31.00 to $33.00 and gave the company a "buy" rating in a report on Wednesday, June 11th. Eight analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, Carnival has a consensus rating of "Moderate Buy" and a consensus price target of $26.79.
Read Our Latest Stock Report on CCL
Carnival Stock Performance
Shares of NYSE CCL traded up $0.15 during trading on Friday, reaching $23.76. 23,613,035 shares of the company traded hands, compared to its average volume of 25,378,685. The firm has a 50 day simple moving average of $21.33 and a 200-day simple moving average of $22.88. Carnival Corporation has a 52-week low of $13.78 and a 52-week high of $28.72. The stock has a market capitalization of $27.72 billion, a PE ratio of 15.84, a P/E/G ratio of 0.55 and a beta of 2.58. The company has a quick ratio of 0.21, a current ratio of 0.26 and a debt-to-equity ratio of 2.78.
Carnival (NYSE:CCL - Get Free Report) last issued its quarterly earnings data on Friday, March 21st. The company reported $0.13 earnings per share for the quarter, beating analysts' consensus estimates of $0.02 by $0.11. Carnival had a net margin of 8.07% and a return on equity of 26.53%. The company had revenue of $5.81 billion for the quarter, compared to the consensus estimate of $5.74 billion. During the same quarter in the prior year, the firm earned ($0.14) earnings per share. The firm's revenue for the quarter was up 7.5% compared to the same quarter last year. Equities research analysts anticipate that Carnival Corporation will post 1.77 earnings per share for the current year.
Carnival Company Profile
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Free Report)
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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