Carnival Co. & (NYSE:CCL) Shares Gap Up on Analyst Upgrade

Shares of Carnival Co. & plc (NYSE:CCL - Get Free Report) gapped up before the market opened on Monday after Wells Fargo & Company raised their price target on the stock from $22.00 to $23.00. The stock had previously closed at $15.00, but opened at $15.39. Wells Fargo & Company currently has an overweight rating on the stock. Carnival Co. & shares last traded at $15.68, with a volume of 5,874,702 shares changing hands.

Several other analysts have also commented on the stock. Truist Financial raised their price target on shares of Carnival Co. & from $15.00 to $18.00 and gave the company a "hold" rating in a research report on Thursday, January 18th. Macquarie lifted their target price on shares of Carnival Co. & from $22.00 to $24.00 and gave the company an "outperform" rating in a research report on Thursday, March 28th. Mizuho assumed coverage on shares of Carnival Co. & in a research report on Tuesday, March 26th. They issued a "buy" rating and a $21.00 target price on the stock. Barclays lifted their target price on shares of Carnival Co. & from $24.00 to $25.00 and gave the company an "overweight" rating in a research report on Thursday, March 28th. Finally, UBS Group lifted their target price on shares of Carnival Co. & from $20.00 to $21.00 and gave the company a "buy" rating in a research report on Tuesday, May 14th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $21.58.

Hedge Funds Weigh In On Carnival Co. &

A number of institutional investors have recently bought and sold shares of the company. Richardson Capital Management LLC purchased a new stake in shares of Carnival Co. & in the 1st quarter valued at approximately $26,000. Friedenthal Financial purchased a new stake in shares of Carnival Co. & in the 4th quarter valued at approximately $28,000. Hanseatic Management Services Inc. purchased a new stake in shares of Carnival Co. & in the 3rd quarter valued at approximately $30,000. ICA Group Wealth Management LLC purchased a new stake in shares of Carnival Co. & in the 4th quarter valued at approximately $31,000. Finally, BNP Paribas purchased a new stake in shares of Carnival Co. & in the 1st quarter valued at approximately $32,000. 67.19% of the stock is owned by hedge funds and other institutional investors.

Carnival Co. & Stock Up 7.3 %

The business's 50 day moving average price is $15.31 and its 200-day moving average price is $15.84. The firm has a market capitalization of $18.06 billion, a PE ratio of 61.88 and a beta of 2.53. The company has a debt-to-equity ratio of 4.27, a quick ratio of 0.32 and a current ratio of 0.36.

Carnival Co. & (NYSE:CCL - Get Free Report) last released its quarterly earnings results on Wednesday, March 27th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.18) by $0.04. The business had revenue of $5.41 billion for the quarter, compared to the consensus estimate of $5.42 billion. Carnival Co. & had a net margin of 1.79% and a return on equity of 7.75%. The business's revenue was up 22.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.55) EPS. As a group, equities research analysts forecast that Carnival Co. & plc will post 1.02 earnings per share for the current year.

Carnival Co. & Company Profile

Carnival Corporation & plc engages in the provision of leisure travel services in North America, Australia, Europe, Asia, and internationally. The company operates through four segments: NAA Cruise Operations, Europe Cruise Operations, Cruise Support, and Tour and Other. It operates port destinations, private islands, and a solar park, as well as owns and operates hotels, lodges, glass-domed railcars, and motor coaches.