Carnival (NYSE:CCL) Price Target Raised to $31.00 at Truist Financial

Carnival (NYSE:CCL - Free Report) had its price objective boosted by Truist Financial from $27.00 to $31.00 in a research note released on Monday,Benzinga reports. The brokerage currently has a hold rating on the stock.

CCL has been the topic of several other reports. Stifel Nicolaus raised their target price on shares of Carnival from $33.00 to $34.00 and gave the company a "buy" rating in a report on Wednesday, June 25th. Macquarie dropped their target price on shares of Carnival from $31.00 to $26.00 and set an "outperform" rating on the stock in a research report on Friday, May 9th. Morgan Stanley increased their price target on shares of Carnival from $21.00 to $24.00 and gave the company an "equal weight" rating in a research report on Thursday, June 26th. Barclays upped their price objective on shares of Carnival from $30.00 to $33.00 and gave the company an "overweight" rating in a report on Wednesday, June 25th. Finally, Hsbc Global Res raised shares of Carnival from a "moderate sell" rating to a "hold" rating in a report on Friday, May 16th. Seven analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $29.67.

Carnival Stock Up 0.5%

CCL stock traded up $0.14 during midday trading on Monday, hitting $29.93. The stock had a trading volume of 12,880,989 shares, compared to its average volume of 25,049,349. Carnival has a 52-week low of $13.78 and a 52-week high of $30.46. The firm has a market cap of $34.93 billion, a price-to-earnings ratio of 16.18, a price-to-earnings-growth ratio of 0.65 and a beta of 2.61. The business has a 50-day moving average of $25.30 and a two-hundred day moving average of $23.18. The company has a debt-to-equity ratio of 2.58, a current ratio of 0.34 and a quick ratio of 0.30.

Carnival (NYSE:CCL - Get Free Report) last posted its earnings results on Tuesday, June 24th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.11. The business had revenue of $6.33 billion during the quarter, compared to the consensus estimate of $6.20 billion. Carnival had a return on equity of 27.88% and a net margin of 9.72%. The business's quarterly 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. As a group, equities research analysts forecast that Carnival will post 1.77 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Carnival

Several institutional investors have recently made changes to their positions in CCL. Causeway Capital Management LLC acquired a new position in shares of Carnival in the 1st quarter worth approximately $518,816,000. Nuveen LLC acquired a new position in shares of Carnival during the 1st quarter worth about $432,718,000. FMR LLC raised its holdings in Carnival by 186.6% in the 4th quarter. FMR LLC now owns 9,898,906 shares of the company's stock valued at $246,681,000 after acquiring an additional 6,444,444 shares in the last quarter. Nuveen Asset Management LLC raised its holdings 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 worth $569,423,000 after buying an additional 5,761,489 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in Carnival by 4.0% during the 4th quarter. Vanguard Group Inc. now owns 117,095,566 shares of the company's stock worth $2,918,022,000 after acquiring an additional 4,458,329 shares during the last quarter. 67.19% of the stock is currently owned by hedge funds and other institutional investors.

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.