Mizuho Issues Positive Forecast for Carnival (NYSE:CCL) Stock Price

Carnival (NYSE:CCL - Get Free Report) had its target price boosted by research analysts at Mizuho from $33.00 to $35.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Mizuho's price objective would indicate a potential upside of 38.37% from the company's current price.

Other equities analysts also recently issued research reports about 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. Susquehanna increased their price target on shares of Carnival from $27.00 to $30.00 and gave the stock a "positive" rating in a research note on Wednesday. Hsbc Global Res upgraded Carnival from a "moderate sell" rating to a "hold" rating in a report on Friday, May 16th. HSBC upgraded Carnival from a "reduce" rating to a "hold" rating and set a $24.00 target price for the company in a report on Friday, May 16th. Finally, Wall Street Zen upgraded Carnival from a "hold" rating to a "buy" rating in a report on Wednesday, May 14th. Nine research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Carnival has a consensus rating of "Moderate Buy" and a consensus target price of $27.68.

Carnival Price Performance

Carnival stock traded down $0.41 during midday trading on Wednesday, reaching $25.30. 15,389,838 shares of the company were exchanged, compared to its average volume of 25,559,889. The company has a market capitalization of $29.51 billion, a price-to-earnings ratio of 16.88, a P/E/G ratio of 0.56 and a beta of 2.58. The firm's 50-day simple moving average is $21.73 and its 200-day simple moving average is $22.81. Carnival has a 1 year low of $13.78 and a 1 year high of $28.72. The company has a debt-to-equity ratio of 2.78, a quick ratio of 0.21 and a current ratio of 0.26.

Carnival (NYSE:CCL - Get Free Report) last posted its quarterly earnings results on Tuesday, June 24th. The company reported $0.35 EPS for the quarter, beating the consensus estimate of $0.24 by $0.11. The company had revenue of $6.33 billion during the quarter, compared to analysts' expectations of $6.20 billion. Carnival had a return on equity of 26.53% and a net margin of 8.07%. The firm's revenue was up 9.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.11 EPS. On average, analysts anticipate that Carnival will post 1.77 EPS for the current year.

Hedge Funds Weigh In On Carnival

A number of institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Carnival by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 119,505,754 shares of the company's stock valued at $2,333,947,000 after purchasing an additional 2,410,188 shares in the last quarter. Causeway Capital Management LLC acquired a new position in shares of Carnival in the 1st quarter valued at approximately $518,816,000. Geode Capital Management LLC raised its position in shares of Carnival by 5.0% in the 4th quarter. Geode Capital Management LLC now owns 25,228,416 shares of the company's stock valued at $627,053,000 after purchasing an additional 1,201,256 shares in the last quarter. Nuveen Asset Management LLC raised its position in shares of Carnival by 33.7% in the 4th quarter. Nuveen Asset Management LLC now owns 22,850,042 shares of the company's stock valued at $569,423,000 after purchasing an additional 5,761,489 shares in the last quarter. Finally, Nuveen LLC acquired a new position in shares of Carnival in the 1st quarter valued at approximately $432,718,000. 67.19% of the stock is owned by institutional investors and hedge funds.

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.

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