Carnival’s (CCL) “Overweight” Rating Reiterated at Barclays

Barclays reiterated their overweight rating on shares of Carnival (NYSE:CCL) in a research note issued to investors on Tuesday, Marketbeat reports. Barclays currently has a $30.00 target price on the stock, up from their prior target price of $26.00.

A number of other brokerages also recently issued reports on CCL. Northcoast Research began coverage on Carnival in a report on Friday, April 25th. They set a “neutral” rating for the company. Mizuho lifted their price target on Carnival from $32.00 to $33.00 and gave the stock an “outperform” rating in a report on Monday, March 24th. Macquarie decreased their price target on Carnival from $31.00 to $26.00 and set an “outperform” rating for the company in a report on Friday, May 9th. Stifel Nicolaus lifted their price target on Carnival from $31.00 to $33.00 and gave the stock a “buy” rating in a report on Wednesday, June 11th. Finally, Hsbc Global Res raised Carnival from a “moderate sell” rating to a “hold” rating in a report on Friday, May 16th. Eight equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $26.79.

Carnival Trading Up 1.4%

NYSE:CCL opened at $23.61 on Tuesday. The firm has a market cap of $27.54 billion, a PE ratio of 15.74, a price-to-earnings-growth ratio of 0.55 and a beta of 2.58. The stock has a fifty day moving average price of $21.33 and a 200 day moving average price of $22.88. Carnival has a 12-month low of $13.78 and a 12-month high of $28.72. The company has a current ratio of 0.26, a quick ratio of 0.21 and a debt-to-equity ratio of 2.78.

Carnival (NYSE:CCL) last released its earnings results on Friday, March 21st. The company reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.02 by $0.11. The firm had revenue of $5.81 billion during the quarter, compared to analyst estimates of $5.74 billion. Carnival had a return on equity of 26.53% and a net margin of 8.07%. Carnival’s revenue was up 7.5% compared to the same quarter last year. During the same period last year, the business posted ($0.14) earnings per share. Sell-side analysts anticipate that Carnival will post 1.77 earnings per share for the current fiscal year.

Institutional Trading of Carnival

Several institutional investors and hedge funds have recently made changes to their positions in CCL. Empowered Funds LLC lifted its holdings in shares of Carnival by 11.0% in the 4th quarter. Empowered Funds LLC now owns 18,836 shares of the company’s stock valued at $469,000 after purchasing an additional 1,861 shares during the last quarter. Asset Management One Co. Ltd. increased its position in Carnival by 8.2% in the 4th quarter. Asset Management One Co. Ltd. now owns 400,065 shares of the company’s stock valued at $10,034,000 after acquiring an additional 30,482 shares during the period. Vontobel Holding Ltd. increased its position in Carnival by 128.6% in the 4th quarter. Vontobel Holding Ltd. now owns 60,858 shares of the company’s stock valued at $1,517,000 after acquiring an additional 34,231 shares during the period. Principal Securities Inc. increased its position in Carnival by 33.2% in the 4th quarter. Principal Securities Inc. now owns 24,725 shares of the company’s stock valued at $616,000 after acquiring an additional 6,160 shares during the period. Finally, Allworth Financial LP increased its position in Carnival by 24.3% in the 4th quarter. Allworth Financial LP now owns 20,471 shares of the company’s stock valued at $517,000 after acquiring an additional 4,002 shares during the period. 67.19% of the stock is owned by hedge funds and other institutional investors.

Carnival 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.