Carnival (NYSE:CCL) Price Target Raised to $30.00

Carnival (NYSE:CCL) had its target price hoisted by Susquehanna from $27.00 to $30.00 in a research note released on Wednesday morning,Benzinga reports. The brokerage currently has a positive rating on the stock.

Several other research firms have also recently weighed in on CCL. Mizuho increased their price target on shares of Carnival from $32.00 to $33.00 and gave the company an “outperform” rating in a report on Monday, March 24th. Citigroup reaffirmed a “hold” rating on shares of Carnival in a report on Monday. Barclays raised their target price on shares of Carnival from $30.00 to $33.00 and gave the stock an “overweight” rating in a report on Wednesday. Wall Street Zen raised shares of Carnival from a “hold” rating to a “buy” rating in a report on Wednesday, May 14th. Finally, Macquarie lowered their target price on shares of Carnival from $31.00 to $26.00 and set an “outperform” rating on the stock in a report on Friday, May 9th. Eight investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $28.53.

Carnival Stock Up 4.4%

Carnival stock opened at $27.31 on Wednesday. The stock has a market cap of $31.86 billion, a P/E ratio of 14.76, a P/E/G ratio of 0.57 and a beta of 2.58. The company has a quick ratio of 0.21, a current ratio of 0.34 and a debt-to-equity ratio of 2.58. Carnival has a twelve month low of $13.78 and a twelve month high of $28.72. The company’s 50-day moving average price is $22.24 and its two-hundred day moving average price is $22.84.

Carnival (NYSE:CCL) last released its quarterly earnings results on Tuesday, June 24th. The company reported $0.35 earnings per share for the quarter, beating the consensus estimate of $0.24 by $0.11. The firm had revenue of $6.33 billion for the quarter, compared to analysts’ expectations of $6.20 billion. Carnival had a net margin of 9.72% and a return on equity of 27.88%. The business’s revenue was up 9.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.11 EPS. As a group, analysts expect that Carnival will post 1.77 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. N.E.W. Advisory Services LLC bought a new position in Carnival in the first quarter valued at approximately $25,000. Graybill Wealth Management LTD. bought a new position in Carnival in the first quarter valued at approximately $26,000. Measured Risk Portfolios Inc. bought a new position in Carnival in the fourth quarter valued at approximately $29,000. Orion Capital Management LLC bought a new position in Carnival in the fourth quarter valued at approximately $30,000. Finally, Banque Transatlantique SA bought a new position in Carnival in the first quarter valued at approximately $33,000. 67.19% of the stock is owned by 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.