Teacher Retirement System of Texas lowered its stake in Carnival Corporation (NYSE:CCL - Free Report) by 23.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 151,859 shares of the company's stock after selling 47,190 shares during the period. Teacher Retirement System of Texas' holdings in Carnival were worth $2,966,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of CCL. Measured Risk Portfolios Inc. acquired a new position in shares of Carnival during the 4th quarter worth approximately $29,000. Orion Capital Management LLC acquired a new stake in Carnival in the 4th quarter worth about $30,000. Millstone Evans Group LLC purchased a new stake in Carnival in the 4th quarter valued at about $34,000. 1620 Investment Advisors Inc. acquired a new position in shares of Carnival during the 4th quarter valued at about $42,000. Finally, Wealthquest Corp acquired a new position in shares of Carnival during the 1st quarter valued at about $36,000. Institutional investors and hedge funds own 67.19% of the company's stock.
Carnival Trading Up 1.0%
CCL traded up $0.28 during trading on Thursday, reaching $29.11. The company had a trading volume of 22,867,540 shares, compared to its average volume of 25,305,429. The company has a debt-to-equity ratio of 2.58, a quick ratio of 0.30 and a current ratio of 0.34. Carnival Corporation has a 12-month low of $13.78 and a 12-month high of $30.46. The company has a market cap of $33.98 billion, a price-to-earnings ratio of 15.73, a PEG ratio of 0.64 and a beta of 2.61. The firm's 50-day simple moving average is $23.97 and its 200 day simple moving average is $23.03.
Carnival (NYSE:CCL - Get Free Report) last announced its earnings results on Tuesday, June 24th. The company reported $0.35 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.11. The company had revenue of $6.33 billion for the quarter, compared to the consensus estimate of $6.20 billion. Carnival had a net margin of 9.72% and a return on equity of 27.88%. The company's revenue was up 9.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.11 EPS. Equities research analysts anticipate that Carnival Corporation will post 1.77 earnings per share for the current year.
Analyst Upgrades and Downgrades
A number of brokerages have weighed in on CCL. Susquehanna lifted their price target on shares of Carnival from $27.00 to $30.00 and gave the company a "positive" rating in a report on Wednesday, June 25th. Loop Capital reiterated a "hold" rating and issued a $22.00 target price on shares of Carnival in a report on Monday, June 23rd. Citigroup upped their price target on Carnival from $28.00 to $30.00 and gave the stock a "buy" rating in a research note on Wednesday, June 25th. 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 research report on Friday, May 16th. Finally, Hsbc Global Res raised Carnival from a "moderate sell" rating to a "hold" rating in a research report on Friday, May 16th. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat, Carnival has a consensus rating of "Moderate Buy" and a consensus target price of $28.65.
Check Out Our Latest Stock Report on Carnival
Carnival Profile
(
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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