Moran Wealth Management LLC Invests $1.91 Million in Carnival Corporation (NYSE:CCL)

Moran Wealth Management LLC purchased a new position in shares of Carnival Corporation (NYSE:CCL - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 97,727 shares of the company's stock, valued at approximately $1,909,000.

Several other institutional investors have also modified their holdings of CCL. Measured Risk Portfolios Inc. purchased a new stake in Carnival in the 4th quarter valued at about $29,000. Orion Capital Management LLC purchased a new stake in Carnival in the 4th quarter valued at about $30,000. Millstone Evans Group LLC purchased a new stake in Carnival in the 4th quarter valued at about $34,000. Dunhill Financial LLC raised its holdings in Carnival by 1,125.0% in the 1st quarter. Dunhill Financial LLC now owns 1,862 shares of the company's stock valued at $36,000 after buying an additional 1,710 shares during the period. Finally, 1620 Investment Advisors Inc. purchased a new stake in Carnival in the 4th quarter valued at about $42,000. Hedge funds and other institutional investors own 67.19% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Macquarie cut their price target on shares of Carnival from $31.00 to $26.00 and set an "outperform" rating on the stock in a research note on Friday, May 9th. Wall Street Zen upgraded shares of Carnival from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th. Bank of America upped their price target on Carnival from $30.00 to $31.00 and gave the stock a "buy" rating in a research note on Wednesday. Barclays increased 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. Finally, Loop Capital reissued a "hold" rating and issued a $22.00 price objective on shares of Carnival in a research note on Monday. Eight investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $28.33.

Carnival Trading Up 4.4%

NYSE CCL traded up $1.14 during mid-day trading on Friday, hitting $27.31. The company's stock had a trading volume of 46,820,661 shares, compared to its average volume of 25,266,615. The firm has a market capitalization of $31.86 billion, a P/E ratio of 14.76, a price-to-earnings-growth ratio of 0.57 and a beta of 2.58. The stock's fifty day simple moving average is $22.05 and its two-hundred day simple moving average is $22.83. Carnival Corporation has a 52-week low of $13.78 and a 52-week high of $28.72. The company has a debt-to-equity ratio of 2.58, a current ratio of 0.34 and a quick ratio of 0.21.

Carnival (NYSE:CCL - Get Free Report) last posted its quarterly earnings data on Tuesday, June 24th. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.24 by $0.11. The company had revenue of $6.33 billion for 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%. The business's quarterly revenue was up 9.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.11 earnings per share. Research analysts expect that Carnival Corporation will post 1.77 EPS for the current year.

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.