Carnival Co. & (NYSE:CCL) Sets New 52-Week High – Time to Buy?

Carnival Co. & plc (NYSE:CCL) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $25.13 and last traded at $24.96, with a volume of 11265014 shares changing hands. The stock had previously closed at $24.51.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on CCL. Mizuho increased their target price on Carnival Co. & from $25.00 to $26.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. JPMorgan Chase & Co. increased their target price on Carnival Co. & from $23.00 to $25.00 and gave the company an “overweight” rating in a report on Wednesday, July 24th. Barclays increased their price objective on Carnival Co. & from $25.00 to $26.00 and gave the stock an “overweight” rating in a report on Tuesday, October 1st. Citigroup increased their price objective on Carnival Co. & from $25.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, Bank of America increased their price objective on Carnival Co. & from $24.00 to $28.00 and gave the stock a “buy” rating in a report on Wednesday, November 13th. One analyst has rated the stock with a sell rating, two have issued a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Carnival Co. & has a consensus rating of “Moderate Buy” and an average target price of $23.78.

Carnival Co. & Price Performance

The company has a quick ratio of 0.26, a current ratio of 0.30 and a debt-to-equity ratio of 3.10. The stock has a market capitalization of $28.96 billion, a price-to-earnings ratio of 22.40 and a beta of 2.66. The company’s 50-day simple moving average is $20.83 and its 200 day simple moving average is $17.87.

Carnival Co. & (NYSE:CCL) last posted its earnings results on Monday, September 30th. The company reported $1.27 EPS for the quarter, topping the consensus estimate of $1.17 by $0.10. The firm had revenue of $7.90 billion for the quarter, compared to the consensus estimate of $7.82 billion. Carnival Co. & had a net margin of 6.39% and a return on equity of 22.30%. The business’s quarterly revenue was up 15.2% on a year-over-year basis. During the same period in the prior year, the business posted $0.86 earnings per share. Equities research analysts forecast that Carnival Co. & plc will post 1.33 EPS for the current year.

Insider Activity

In other news, Director Sir Jonathon Band sold 17,500 shares of the firm’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $21.72, for a total value of $380,100.00. Following the sale, the director now directly owns 65,789 shares of the company’s stock, valued at approximately $1,428,937.08. This trade represents a 21.01 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 11.00% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Carnival Co. &

A number of institutional investors have recently added to or reduced their stakes in the company. State Street Corp grew its position in Carnival Co. & by 5.9% during the third quarter. State Street Corp now owns 41,426,562 shares of the company’s stock worth $765,563,000 after buying an additional 2,301,906 shares in the last quarter. Barrow Hanley Mewhinney & Strauss LLC acquired a new stake in Carnival Co. & during the second quarter worth about $466,838,000. Geode Capital Management LLC grew its position in Carnival Co. & by 3.5% during the third quarter. Geode Capital Management LLC now owns 24,027,160 shares of the company’s stock worth $442,515,000 after buying an additional 811,692 shares in the last quarter. Marshall Wace LLP grew its position in Carnival Co. & by 510.5% during the second quarter. Marshall Wace LLP now owns 10,331,092 shares of the company’s stock worth $193,398,000 after buying an additional 8,638,865 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in Carnival Co. & by 43.6% during the second quarter. Renaissance Technologies LLC now owns 9,585,200 shares of the company’s stock worth $179,435,000 after buying an additional 2,911,100 shares in the last quarter. 67.19% of the stock is owned by institutional investors and hedge funds.

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.