Carnival Co. & (NYSE:CCL) Trading Up 5.6% – Still a Buy?

Carnival Co. & plc (NYSE:CCL) rose 5.6% on Tuesday . The company traded as high as $26.58 and last traded at $27.12. Approximately 4,456,623 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 19,223,791 shares. The stock had previously closed at $25.68.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Bank of America boosted their price target on shares of Carnival Co. & from $24.00 to $28.00 and gave the stock a “buy” rating in a research note on Wednesday, November 13th. Truist Financial increased their price objective on Carnival Co. & from $29.00 to $30.00 and gave the company a “hold” rating in a report on Friday. Mizuho boosted their target price on Carnival Co. & from $26.00 to $32.00 and gave the stock an “outperform” rating in a research note on Thursday, December 5th. The Goldman Sachs Group raised their price objective on shares of Carnival Co. & from $24.00 to $32.00 and gave the stock a “buy” rating in a report on Tuesday, December 10th. Finally, Tigress Financial upped their target price on shares of Carnival Co. & from $25.00 to $28.00 and gave the company a “buy” rating in a report on Monday, October 7th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $27.24.

Carnival Co. & Trading Up 7.9 %

The firm has a market capitalization of $31.97 billion, a price-to-earnings ratio of 19.87, a P/E/G ratio of 0.80 and a beta of 2.64. The company has a debt-to-equity ratio of 2.80, a quick ratio of 0.25 and a current ratio of 0.29. The business has a fifty day moving average price of $25.35 and a 200 day moving average price of $20.99.

Carnival Co. & (NYSE:CCL) last released its quarterly earnings data on Friday, December 20th. The company reported $0.14 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.06. Carnival Co. & had a net margin of 7.66% and a return on equity of 24.13%. The company had revenue of $5.94 billion during the quarter, compared to analyst estimates of $5.94 billion. During the same quarter in the prior year, the business earned ($0.07) earnings per share. The business’s quarterly revenue was up 10.0% compared to the same quarter last year. As a group, equities analysts forecast that Carnival Co. & plc will post 1.74 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of CCL. State Street Corp increased its position in Carnival Co. & by 5.9% in 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 during the period. Geode Capital Management LLC grew its position in Carnival Co. & by 3.5% in the 3rd quarter. Geode Capital Management LLC now owns 24,027,160 shares of the company’s stock worth $442,515,000 after purchasing an additional 811,692 shares during the last quarter. Mizuho Securities USA LLC increased its stake in shares of Carnival Co. & by 8,431.1% in the third quarter. Mizuho Securities USA LLC now owns 6,644,000 shares of the company’s stock valued at $122,781,000 after purchasing an additional 6,566,120 shares during the period. Goldentree Asset Management LP raised its holdings in shares of Carnival Co. & by 16.1% during the third quarter. Goldentree Asset Management LP now owns 5,151,458 shares of the company’s stock valued at $95,037,000 after buying an additional 712,469 shares during the last quarter. Finally, Commonwealth Equity Services LLC boosted its position in shares of Carnival Co. & by 1.0% during the third quarter. Commonwealth Equity Services LLC now owns 4,075,201 shares of the company’s stock worth $75,310,000 after buying an additional 39,491 shares during the period. Hedge funds and other institutional investors own 67.19% of the company’s stock.

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.