HSBC Upgrades Carnival Co. & (NYSE:CCL) to Hold

Carnival Co. & (NYSE:CCL) was upgraded by investment analysts at HSBC from a “reduce” rating to a “hold” rating in a report issued on Friday, Marketbeat Ratings reports. The firm currently has a $24.00 price objective on the stock. HSBC’s price objective would suggest a potential upside of 2.50% from the stock’s previous close.

CCL has been the topic of several other reports. Morgan Stanley upgraded shares of Carnival Co. & from an “underweight” rating to an “equal weight” rating and cut their price target for the company from $25.00 to $21.00 in a report on Thursday, April 10th. Macquarie lowered their price objective on shares of Carnival Co. & from $31.00 to $26.00 and set an “outperform” rating for the company in a research report on Friday, May 9th. BNP Paribas assumed coverage on shares of Carnival Co. & in a research 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 report on Monday, March 10th. Finally, Barclays lowered their price objective on shares of Carnival Co. & from $32.00 to $26.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. Eight equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, Carnival Co. & currently has a consensus rating of “Moderate Buy” and an average target price of $26.68.

Carnival Co. & Stock Performance

Carnival Co. & stock opened at $23.42 on Friday. The company’s 50-day moving average price is $19.45 and its 200-day moving average price is $23.03. Carnival Co. & has a twelve month low of $13.78 and a twelve month high of $28.72. The company has a quick ratio of 0.25, a current ratio of 0.29 and a debt-to-equity ratio of 2.80. The company has a market cap of $27.32 billion, a PE ratio of 16.85, a price-to-earnings-growth ratio of 0.73 and a beta of 2.50.

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

Hedge Funds Weigh In On Carnival Co. &

Several hedge funds and other institutional investors have recently modified their holdings of the business. Causeway Capital Management LLC acquired a new position in shares of Carnival Co. & in the first quarter valued at approximately $518,816,000. Nuveen LLC acquired a new stake in Carnival Co. & during the 1st quarter worth $432,718,000. FMR LLC boosted its stake in Carnival Co. & by 186.6% during the 4th quarter. FMR LLC now owns 9,898,906 shares of the company’s stock worth $246,681,000 after purchasing an additional 6,444,444 shares during the period. Nuveen Asset Management LLC boosted its stake in Carnival Co. & by 33.7% during the 4th quarter. Nuveen Asset Management LLC now owns 22,850,042 shares of the company’s stock worth $569,423,000 after purchasing an additional 5,761,489 shares during the period. Finally, Vanguard Group Inc. boosted its stake in Carnival Co. & 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 purchasing an additional 4,458,329 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.