StockNews.com Upgrades Carnival Co. & (NYSE:CCL) to Buy

Carnival Co. & (NYSE:CCL) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Friday.

A number of other brokerages also recently weighed in on CCL. Loop Capital cut their price target on shares of Carnival Co. & from $25.00 to $21.00 and set a “hold” rating for the company in a report on Monday, March 24th. BNP Paribas began coverage on shares of Carnival Co. & in a report on Thursday, March 27th. They issued an “outperform” rating and a $26.00 price objective for the company. William Blair reissued an “outperform” rating on shares of Carnival Co. & in a research note on Monday, March 10th. Morgan Stanley upgraded shares of Carnival Co. & from an “underweight” rating to an “equal weight” rating and dropped their target price for the company from $25.00 to $21.00 in a report on Thursday, April 10th. Finally, Stifel Nicolaus increased their price target on Carnival Co. & from $30.00 to $31.00 and gave the stock a “buy” rating in a report on Monday, March 24th. Five equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $26.84.

Carnival Co. & Price Performance

Shares of NYSE CCL opened at $17.94 on Friday. The business’s 50 day moving average is $20.87 and its 200-day moving average is $23.11. The firm has a market cap of $20.93 billion, a P/E ratio of 12.91, a price-to-earnings-growth ratio of 0.73 and a beta of 2.42. Carnival Co. & has a 1-year low of $13.78 and a 1-year high of $28.72. The company has a current ratio of 0.29, a quick ratio of 0.25 and a debt-to-equity ratio of 2.80.

Carnival Co. & (NYSE:CCL) last issued its quarterly earnings data on Friday, March 21st. The company reported $0.13 earnings per share for the quarter, topping the consensus estimate of $0.02 by $0.11. Carnival Co. & had a net margin of 7.66% and a return on equity of 24.13%. The business had revenue of $5.81 billion during the quarter, compared to analysts’ expectations of $5.74 billion. During the same quarter in the previous year, the company earned ($0.14) EPS. The business’s revenue was up 7.5% on a year-over-year basis. Equities research analysts predict that Carnival Co. & will post 1.77 earnings per share for the current year.

Institutional Trading of Carnival Co. &

A number of institutional investors and hedge funds have recently modified their holdings of the business. Vanguard Group Inc. grew its stake in Carnival Co. & by 4.0% in the 4th quarter. Vanguard Group Inc. now owns 117,095,566 shares of the company’s stock valued at $2,918,022,000 after purchasing an additional 4,458,329 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Carnival Co. & by 5.0% in the 4th quarter. Geode Capital Management LLC now owns 25,228,416 shares of the company’s stock worth $627,053,000 after buying an additional 1,201,256 shares during the last quarter. Nuveen Asset Management LLC grew its position in Carnival Co. & by 33.7% during the fourth quarter. Nuveen Asset Management LLC now owns 22,850,042 shares of the company’s stock valued at $569,423,000 after buying an additional 5,761,489 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in Carnival Co. & by 4.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 18,649,543 shares of the company’s stock worth $464,747,000 after buying an additional 877,694 shares during the last quarter. Finally, Renaissance Technologies LLC raised its position in Carnival Co. & by 17.7% in the fourth quarter. Renaissance Technologies LLC now owns 18,097,001 shares of the company’s stock worth $450,977,000 after acquiring an additional 2,720,096 shares during the period. 67.19% of the stock is owned by hedge funds and other institutional investors.

Carnival Co. & Company Profile

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.