Carnival Corporation (NYSE:CCL) Shares Purchased by TCW Group Inc.

TCW Group Inc. boosted its holdings in Carnival Corporation (NYSE:CCL) by 5.7% in the first quarter, HoldingsChannel.com reports. The firm owned 15,270 shares of the company’s stock after buying an additional 825 shares during the quarter. TCW Group Inc.’s holdings in Carnival were worth $298,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Measured Risk Portfolios Inc. acquired a new stake in shares of Carnival in the fourth quarter valued at approximately $29,000. Orion Capital Management LLC purchased a new position in shares of Carnival during the fourth quarter worth approximately $30,000. Graybill Wealth Management LTD. purchased a new position in shares of Carnival during the first quarter worth approximately $26,000. Wealthquest Corp purchased a new position in shares of Carnival during the first quarter worth approximately $36,000. Finally, Ossiam purchased a new position in shares of Carnival during the fourth quarter worth approximately $46,000. 67.19% of the stock is owned by institutional investors and hedge funds.

Carnival Price Performance

Carnival stock opened at $29.73 on Tuesday. Carnival Corporation has a one year low of $13.78 and a one year high of $31.01. The company has a debt-to-equity ratio of 2.58, a quick ratio of 0.30 and a current ratio of 0.34. The business has a fifty day moving average of $26.14 and a two-hundred day moving average of $23.42. The company has a market cap of $34.71 billion, a P/E ratio of 16.07, a price-to-earnings-growth ratio of 0.67 and a beta of 2.61.

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

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Northcoast Research assumed coverage on shares of Carnival in a research report on Friday, April 25th. They set a “neutral” rating on the stock. HSBC upgraded shares of Carnival from a “reduce” rating to a “hold” rating and set a $24.00 target price on the stock in a research report on Friday, May 16th. Citigroup raised their target price on shares of Carnival from $30.00 to $37.00 and gave the stock a “buy” rating in a research report on Wednesday, July 16th. Stifel Nicolaus raised their target price on shares of Carnival from $33.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, June 25th. Finally, Truist Financial increased their price target on Carnival from $27.00 to $31.00 and gave the stock a “hold” rating in a report on Monday, July 21st. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, Carnival has an average rating of “Moderate Buy” and a consensus price target of $30.35.

About Carnival

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.