Tigress Financial Forecasts Strong Price Appreciation for Carnival (NYSE:CCL) Stock

Key Points

• Tigress Financial has raised its target price for Carnival (NYSE: CCL) stock from $32.00 to $38.00, indicating a potential upside of 28.79% from the current price, along with a "buy" rating.
• Recent upgrades from other analysts include target prices from Citigroup ($30 to $37), Mizuho ($33 to $35), and Bank of America ($31 to $38), with the overall consensus suggesting a "Moderate Buy" rating.
• Carnival's stock had a trading volume of 6.9 million shares on Tuesday, with a current price of $29.51, down 0.8%, while the company reported a quarterly earnings surprise with earnings per share of $0.35.

Carnival (NYSE:CCL - Free Report) had its price target hoisted by Tigress Financial from $32.00 to $38.00 in a research report sent to investors on Tuesday morning,Benzinga reports. The firm currently has a buy rating on the stock.

Other equities analysts have also recently issued research reports about the company. Morgan Stanley lifted their price objective on Carnival from $21.00 to $24.00 and gave the company an "equal weight" rating in a report on Thursday, June 26th. Susquehanna upped their target price on shares of Carnival from $27.00 to $30.00 and gave the company a "positive" rating in a report on Wednesday, June 25th. Wall Street Zen upgraded shares of Carnival from a "hold" rating to a "buy" rating in a research note on Wednesday, May 14th. Mizuho boosted their price target on Carnival from $33.00 to $35.00 and gave the company an "outperform" rating in a research note on Wednesday, June 25th. Finally, TD Cowen initiated coverage on shares of Carnival in a report on Tuesday, July 22nd. They set a "buy" rating and a $36.00 price target on the stock. Seven investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, Carnival presently has a consensus rating of "Moderate Buy" and an average price target of $30.71.

Carnival Stock Down 1.3%

Shares of CCL traded down $0.40 during mid-day trading on Tuesday, hitting $29.75. 23,089,494 shares of the company's stock were exchanged, compared to its average volume of 19,396,298. Carnival has a twelve month low of $13.78 and a twelve month high of $31.01. The company has a quick ratio of 0.30, a current ratio of 0.34 and a debt-to-equity ratio of 2.58. The firm has a fifty day moving average of $26.44 and a two-hundred day moving average of $23.51. The stock has a market cap of $34.72 billion, a price-to-earnings ratio of 16.08, a P/E/G ratio of 0.67 and a beta of 2.61.

Carnival (NYSE:CCL - Get Free Report) last released 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. Carnival had a return on equity of 27.88% and a net margin of 9.72%. The business had revenue of $6.33 billion for the quarter, compared to analysts' expectations of $6.20 billion. During the same period in the previous year, the business posted $0.11 earnings per share. Carnival's quarterly revenue was up 9.5% on a year-over-year basis. On average, sell-side analysts forecast that Carnival will post 1.77 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. LPL Financial LLC boosted its stake in Carnival by 11.1% in the 4th quarter. LPL Financial LLC now owns 730,544 shares of the company's stock worth $18,205,000 after purchasing an additional 72,701 shares during the period. Blair William & Co. IL lifted its position in shares of Carnival by 16.0% in the fourth quarter. Blair William & Co. IL now owns 21,899 shares of the company's stock worth $546,000 after buying an additional 3,020 shares in the last quarter. Norges Bank purchased a new stake in shares of Carnival during the 4th quarter worth approximately $59,486,000. Nomura Asset Management Co. Ltd. grew its holdings in shares of Carnival by 5.9% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 312,641 shares of the company's stock valued at $7,791,000 after purchasing an additional 17,311 shares in the last quarter. Finally, Allstate Corp purchased a new stake in Carnival during the fourth quarter valued at $767,000. Hedge funds and other institutional investors own 67.19% of the company's stock.

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.